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As high interest rates continue weighing on banks' balance sheets, some are selling branches to real estate firms and leasing them back. The strategy is helping lenders that want to restructure their underwater bond portfolios.

President Joe Biden also nominated fellow Commodity Futures Trade Commission board member Kristin Johnson to a top bank regulatory post at the Treasury Department.

Markets appeared to welcome signs of future rate relief, with the latest Freddie Mac average falling for the fifth time in six weeks.

The bank said it would reduce its physical footprint by nearly 15% as part of an effort to reduce overlapping operations, drive cost savings and meet profitability targets tied to its May acquisition of Lakeland Bancorp.

Legislation enabling new banklike stablecoin issuers would create direct competition for deposits, with small U.S. banks in the most danger. Where is the pushback from the industry?

Longtime payments chief Takis Georgakopoulos is leaving the bank. New co-heads Umar Farooq and Max Neurkirchen are inheriting a powerhouse, but they face lots of challenges.

Like its Wall Street rival Morgan Stanley, Citi sees a path to trillions in client assets in its workplace division.

The Federal Reserve chair said a rate cut would not solve the underlying issues driving up shelter costs, even as housing becomes a disproportionate driver of inflation.

A House Financial Services Committee's hearing on workplace misconduct at the Federal Deposit Insurance Corp. Wednesday offered Republicans an opportunity to call for FDIC Chair Martin Gruenberg's immediate resignation, but Democrats pushed back against the implication that Gruenberg alone is to blame.

After a disruption in February, LockBit roared back in May, highlighting persistent cyber threats to the financial sector.