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Rep. Jamie Raskin, D-Md., said that House Republican subpoenas seeking information about the finances of the Biden family cross a line in bank data privacy.

Pick, 54, a co-president and three-decade veteran of the firm, will be elevated to the top role in January and join the board, the bank said. Gorman, 65, will stay on as executive chairman.

Banks and dissenting policymakers have raised the possibility of challenging regulators' Community Reinvestment Act overhaul in court, but it remains unclear whether they intend to walk the walk.

Banking executives anticipate that loan demand will remain muted over the next 12 months, according to a new survey by the financial services firm IntraFi. That finding lines up with bankers' expectation that rates won't start declining until at least the second half of 2024.

Truist Financial Corp. has been the lone lender to test investor appetite for new bonds in the U.S. this week, marking a sharp slowdown after a $24.5 billion rush of fresh, post-earnings issuance last week. Bank of America Corp., Citigroup Inc. and Morgan Stanley have all held off selling debt.

The Oklahoma-based bank is projecting a modest uptick in spending alongside continuing loan growth. Many other banks are tightening the purse strings amid weaker loan demand.

The fintech Greenlight Financial has formed a CUSO to expand access to its family banking app and educational resources after strong interest from credit unions.

The U.K. Information Commissioner's Office concluded that the former chief executive officer of NatWest Group breached data-protection laws when she discussed the closure of former British politician Nigel Farage's bank account with a reporter. 

As financial institutions increasingly rely on artificial intelligence for anti-money-laundering and fraud detection, they face challenges in meeting regulators' demands for complete transparency and documentation.

As Chief Executive Officer Christian Sewing doubles down to lower expenses and increase profitability, a new round of cuts is expected to exceed the 800 announced in April.