Following New York Community Bancorp's acquisition of Flagstar, the company is ditching the regional bank brands that it long used. CEO Thomas Cangemi calls Flagstar a "neutral" but "patriotic" name that underscores the firm's nationwide expansion strategy.

But at the same time, the publicly traded company is selling off another type of housing finance asset to some large depository institutions.

The Biden administration tapped Adriana Kugler, executive director of the World Bank and a professor at Georgetown, to fill a seat on the Board of Governors that had been vacant since February.

A continued slowdown in refinances, though, drove overall loan-application volumes lower last week, even as the Government Index posted a small gain, according to the Mortgage Bankers Association.

A joint letter from the banking and financial trade groups is the latest effort by the industry and its representatives in Washington to push back against the Basel III capital proposals, which would raise capital significantly for the largest banks.

The bank aims to use new tech to make account-to-account transfers for merchants an easier option than credit cards.