Biden taps Goldsmith Romero to lead FDIC; banks ramp up branch sales as source of cash
Christy Goldsmith Romero will be nominated by President Joe Biden to lead the Federal Deposit Insurance Corp. Photo credit: Bloomberg News

Biden taps Goldsmith Romero to lead FDIC; banks ramp up branch sales as source of cash

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

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Fall versions of some Apple devices (left) and Google Android phones (right) will have generative AI models built into their operating systems.

Will Apple's and Google's on-device AI be useful in banking?

The tech companies are building generative AI into the next generation of their smartphone operating systems.?

Read more: Regime change at JPMorgan Payments: What to expect

The parent companies of Atlantic Union Bank and Fulton Bank have both sold branches and then leased them back as a way to offset losses from bond sales. Photo credit: Bloomberg/Adobe Stock

Banks, navigating choppy seas, tap their branch networks for cash

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.

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Provident Financial Services in New Jersey plans to close several branches after its acquisition of in-state peer Lakeland Bancorp in May.

Fresh off deal closing, Provident in New Jersey to shutter branches

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.

Rohit Chopra, director of the Consumer Financial Protection Bureau, during a House Financial Services Committee hearing on Thursday. Photo credit: Bloomberg News

Chopra sees 'clear interest' in data privacy legislation

Consumer Financial Protection Bureau Director Rohit Chopra touted the bureau's work on data privacy and open banking, and asked that lawmakers on both sides of the aisle pursue legislation to further consumer protections.



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