Citigroup joined rivals in trimming the ranks of its mortgage workforce as rising interest rates continue to crimp demand in the housing market. 

Higher mortgage rates have led to a sharp slowdown in cash-out refinances. Second mortgages were up nearly 50% in the first five months of the year as homeowners looked for new ways to borrow against their equity.

The top 5 have over 10 billion in assets.

Fiserv's fintech research venture, Block's Cash App enhancement and more in banking news this week.

The bank is looking to educate — and potentially hire — a new generation of tech experts by working with New Jersey's Liberty Science Center and two local high schools in areas where students are at higher risk of not graduating.

Executives at Canadian Imperial Bank of Commerce's London office kept a book full of "sexually suggestive comments" about women for a decade, in the latest employment tribunal case to shine a light on banking's sexist culture. 

Sandia Area Federal Credit Union in Albuquerque has named Kevin Todd as its next CEO. He will replace Paula Peknik, who will retire after a 38-year career with the $1.1 billion-asset credit union.

Standard Chartered's joint venture with an arm of Singapore's biggest trade union group started digital banking services in the city-state, adding to rivalry in the space where tech giants are also seeking to make their mark.

Celsius Network, the bankrupt cryptocurrency lender, is seeking to give coins back to a sliver of users who are locked out of their accounts. 

Jefferies Financial Group asked staffers to come back to the office on a more consistent basis as it looks to work through its investment banking backlog in the coming months.

Zepz Group, the U.K. financial technology startup and parent of the payments company WorldRemit, has named Mark Lenhard as its new chief executive, replacing Breon Corcoran.

President Andres Manuel Lopez Obrador is making it very difficult for Citigroup to fetch a price even vaguely close to the $12.5 billion it paid for the bank two decades ago. 

Gulf Winds Credit Union in Pensacola has hired Daniel Souers as its next president and CEO, effective Oct. 1. He will succeed Chris Rutledge, who is retiring.

Banks have shuttered their branches in droves, with Bank of America and Wells Fargo leading the pack over the past year. However, increased regulatory focus on banking services in lower-income areas makes downsizing more difficult now.

The state Supreme Court heard oral arguments in a lawsuit involving one of the nation's largest debt buyers. At issue is how much detail the industry must disclose about what consumers allegedly owe.

SRP Federal Credit Union in North Augusta named Eric Jenkins as the organization's next leader, effective Sept. 1. He will succeed current interim president Woody Shuler, who has led the $1.7 billion-asset credit union since November, 2020.

10 things to know in August: Community banks are partnering with smaller core providers for tech overhauls, Bread's outage leads to a consumer uproar and more.

JPMorgan Chase's Frankfurt offices are being raided by Cologne prosecutors as part of their vast probe into the Cum-Ex scandal that robbed tax payers of billions of euros.

Two of Wall Street's most prominent investment banks are removing some of the final hurdles to fully returning to offices following the COVID-19 pandemic.

At least two credit unions — Wright-Patt Credit Union in Ohio and Weokie Federal Credit Union in Oklahoma — have recently handed out bonuses to help employees meet rising expenses.