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☆ Gen Z couple left the U.S. and relocated to a houseboat in London: 'We feel like we're living in a children's picture book'
▼ + stars: | 2024-07-07 | by ( Celia Fernandez | ) www.cnbc.com time to read: +5 min

Dewey and Kent lived in a townhouse with a third roommate and paid $966 each in rent. Before relocating to London, the couple lived in a townhouse in Philadelphia that they shared with a roommate. "We feel like we're living in a children's picture book," Dewey says. Dewey says she loves to explore London Kent and their dog, Kipper. "I hope that people who watch my videos, get a realistic view about what it's like to move abroad, and specifically live in London," Dewey says.

Persons: Dewey, Kent, Maisy Dewey, Harrison Kent, they'd, I'm, Kipper, Maisy Dewey Dewey, Harry Organizations: Savannah College of Art, Dewey, CNBC, Kingston University, of, Kent, London Kent Locations: New Jersey, United Kingdom, London, Hong Kong, France, Philadelphia, America

☆ Gen Z's Never-Ending Safety Net: Living With Mom and Dad
▼ + stars: | 2024-07-07 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +13 min

Despite a strong job market, many Gen Zers are still relying on the bank of Mom and Dad to make ends meet. The young adult has their entire life ahead of them. Some parents might be more willing to provide financial support because they want to feel like a good parent. The young adult has their entire life ahead of them," Bailey said. When India Anderson turned 20 and decided to move in with her boyfriend, her mother cut off most financial support.

Persons: David Nuñez, freeloader —, Zers, Nuñez, frazzled, Nuñez's, Gen Zers, Monica Kirkpatrick Johnson, They're, Zillow, haven't, Kirkpatrick Johnson, Jeffrey Jensen Arnett, Jo Clark, Clark, I'm, Teresa Bailey, There's, Ali Lupo, Lupo, —, doesn't, Bailey, JP Krahel, Cody, Erika Archie, Cody Archie, Archie, Erika, there's, They've, India Anderson, Anderson, She's, Uber Organizations: Netflix, Pew Research Center, Pew, Washington State University, Clark University, Waddell & Associates, Urban Institute, Loyola University Maryland Locations: Tampa , Florida, America, Surrey, England, New York, Texas, Orlando

Despite doing well enough to pay for his parent's retirement, the 28-year-old tells CNBC Make It he found himself without purpose, feeling depressed, and needing to make a change. Lee moved to Bangkok, Thailand in 2021. Despite lower grocery costs in Bangkok, Lee eats out for every meal and spends $500 a month on food. Lee tells CNBC Make It he chose to leave America because he found himself materialistic and living in an "environment that was just very individualistic, very doggish, and very hyper-aggressive." Lee has made a new life for himself in Thailand, he says, and returning to the U.S. doesn't feel likely.

Persons: Paul Lee, Lee, Marc Aziz Ressang, it's, Thailand — Organizations: CNBC Locations: Thailand, United States, Georgia, New York City, Bangkok, Soho, New York, America, South Korea

High-yield savings accounts have become very popular. With many boasting interest rates over 5% — far greater than the average savings account interest rate — there's no question why they're on so many people's minds. My first high-yield savings account was with AllyWhen I started my savings journey, I opened my Ally high-yield savings account after reading articles that compared different banks and seeing that name come up often. I use the savings account for longer-term savings (right now, an upcoming extended time off from work) and the checking account for shorter-term goals, like buying a new iPad. Using high-yield savings accounts with high interest rates helped, allowing me to get a small bonus deposit each month.

Persons: I've, Ally, it's, — Organizations: Service, Business, Capital, Ally Locations: Maldives

☆ We're paying for private school for our son, but we won't pay for college
▼ + stars: | 2024-07-03 | by ( Laura Niebauer Palmer | ) www.businessinsider.com time to read: +4 min

As we entered the kindergarten room on a tour of our local public school, the entire class was wearing headphones and engrossed in their tablets. Related storiesI knew that moving him into our local public school setting would be at odds with who he is naturally and would be like trying to fit a square peg in a round hole. Unfortunately, the local public school system prioritizes teaching to the standardized state test, continuously makes cutbacks to the arts and music programs, and has burgeoning class sizes with too few teachers. AdvertisementInvesting in his education during these crucial formative years makes more sense for our family than paying college tuition, which he may or may not even attend. While we will not pay for his college education, we have set up a custodial account for him, which he will have complete control of upon turning 18.

Organizations: Service, Montessori

☆ Online-gambling giants conquer U.S. with tactics deemed too tough for Britain
▼ + stars: | 2024-07-03 | by ( ) www.cnbc.com time to read: +22 min

NYSEIn 2018, British regulators sanctioned the UK arm of online gambling giant Flutter after it failed to catch an astonishing anomaly. The United States is Flutter's largest and fastest-growing market in terms of revenue. Both online sports betting and online casinos have been legal and regulated far longer in Britain than in the United States. But in the United States, Flutter doesn't place such limits on the age group. Around a decade ago, British politicians became concerned about a rise in gambling-linked fraud and suicides involving online VIP customers.

Persons: Peter Jackson, America —, Amit Patel, Patel, Alex King, King, FanDuel, Chris Ratcliffe, haven't, hasn't, Jackson, weren't incentivized, Flutter's FanDuel, Entain, Rob Wood, BetMGM, Paul Tonko, Tonko, Entain's Wood, —, Joe K, Joe, Pavlo Gonchar, Rob Gronkowski, Jamie Foxx, Foxx, Gronkowski, Goldman Sachs, who'd, Betfair, Entain's, Felicia Grondin, Silquia Patel, Eduardo Munoz, Flutter's, Chris Jones, Josh Giaramita Organizations: MGM, New York Stock Exchange, NYSE, Flutter's U.S, Jacksonville Jaguars, Reuters, Fanduel Inc, Bloomberg, Getty, The New York Stock Exchange, NYSE BetMGM, MGM Resorts International, MGM Resorts, New York Democrat, U.S, Lightrocket, Supreme, American Gaming Association, New York, Gaming Commission Locations: America, Edinburgh, Britain, United States, Dublin, U.S, British, BetMGM, New Jersey, States, United Kingdom, Ireland, New York, East Rutherford , New Jersey, FanDuel

☆ How thousands of Americans got caught in fintech’s false promise and lost access to bank accounts
▼ + stars: | 2024-07-02 | by ( Hugh Son | ) www.cnbc.com time to read: +10 min

Craft had her wages deposited directly into a Yotta account and used the startup's debit card to pay for all her expenses. CNBC reached out to fintech customers whose lives have been upended by the Synapse debacle. Instead of spending years and millions of dollars trying to acquire or become banks, startups got quick access to essential services they needed to offer. They account for 60% of all new fintech account openings, according to data provider Curinos. The FDIC's exact language about whether fintech customers are eligible for coverage: "The short answer is: it depends."

Persons: Natasha Craft, Craft, fintech, Adam Moelis, Sankaet Pathak, Michele Alt, Scott Sanborn, Sanborn, LendingClub, she's, Rick Davies, Taylor Stitch, " Davies, He's, he's, Davies, hasn't Organizations: FedEx, CNBC, Federal Deposit Insurance Corp, Synapse, Indiana FedEx, Disney, Bank, Trust, JPMorgan Chase, Klaros, PayPal, Getty, Financial Technology Association, D.C, Block, Regulators, Federal Reserve, FDIC, Oakland, San, OCC Locations: Mishawaka , Indiana, Craft, Oakland , California, New York City, Santa Barbara , California, Maryland, Bristol , Connecticut, Seattle, Tennessee, Yotta, Boston, Washington, fintechs, Silicon, San Francisco

☆ This bank just boosted its 1-year CD yield to more than 5%, even as traders await Fed rate cuts
▼ + stars: | 2024-07-02 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +2 min

Marcus' yield hike places it in an exclusive group of financial institutions continuing to offer rates in the 5% range on deposits. Citizens Access and Capital One Financial each offer a 1-year CD that yields 5%, while Sallie Mae offers a 5.15% APY. Bread Financial is at the top of the heap, with an APY of 5.25% on a 1-year CD. Indeed, LendingClub recently slashed its 1-year CD APY to 4.2%, reflecting a cut of 95 basis points, Caintic found. For instance, investors may forfeit some interest if they "break" their CD ahead of maturity, which makes these funds less liquid compared to money market funds.

Persons: Marcus, Goldman Sachs, BTIG, Sallie Mae, Vincent Caintic, LendingClub, Caintic Organizations: Reserve, BTIG Locations: LendingClub

☆ How to turn your passion into a career, says 42-year-old who quit marketing to become a breakup coach
▼ + stars: | 2024-06-29 | by ( Gili Malinsky | ) www.cnbc.com time to read: +4 min

Along the way, "I had this idea for the breakup bootcamp," she says, a place where people who'd recently gone through a breakup could find solace and comfort together. Despite writing out the vision for breakup bootcamp in 2015, "I was too scared" to make it happen immediately, she says. That's why, now, her best advice for turning your passion into a career is "whatever it is," she says, "just launch it." Finally, in February 2017, she launched the first breakup bootcamp. They laid out a potential career path as a breakup coach and, in August 2017, she finally left her job in marketing to launch into her relationship-oriented career full-time.

Persons: Amy Chan, Chan, I'm Organizations: Huffington, CNBC Locations: New York

☆ How a criminal record affects your chances of being hired
▼ + stars: | 2024-06-28 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

In fact, for many if not most jobs, there are no legal prohibitions on hiring those with criminal records. And when a criminal record of any kind turns up, that can kill a person’s chances, regardless of how well-qualified they may be for a position, either because an employer has a high aversion to risk or a bias against those with a record, Love said. Or the paperwork and time required to get approval for someone with a criminal record may be such that an employer simply decides to look at candidates without a record. “Sometimes people believe they are required to turn my clients down because of a criminal conviction. That law provides for eligible conviction records to be automatically “sealed,” meaning they should no longer show up on employer background checks.

Persons: Donald Trump, Trump, he’d, ”, Margaret Love, aren’t, Love, Beth Avery, Avery, Sabina Crocette, Crocette, ” Crocette, Jason Hoge, Hoge, ‘ I’m, ” Hoge, Wes Moore Organizations: New, New York CNN, Employment Opportunity Commission, of Columbia, National Employment Law, Economic, Federal Deposit Insurance Corporation, Legal, Western, Employers, Whites, New York’s, Criminal, Services, Maryland Gov Locations: New York, United States, NELP, San Francisco, California , New York, Blacks

☆ Step into the daily lives of Canyon Coffee's cofounders. Here's how they balance business, family, and finances.
▼ + stars: | 2024-06-28 | by ( Sponsor Post | Sponsored Apple Card | ) www.businessinsider.com time to read: +10 min

4 You can choose to direct Daily Cash to a Savings account or to an Apple Cash card. By opening a Savings account, Apple Card Owners and Co-Owners are affirmatively electing to have all future Daily Cash automatically deposited into their respective Savings account. Daily Cash may not be divided between Apple Cash Card and Savings accounts. To access and use all Apple Card features and products available only to Apple Card users, you must add Apple Card to Wallet on an iPhone or iPad that supports and has the latest version of iOS or iPadOS. If you reside in the U.S. territories, please call Goldman Sachs at 877-255-5923 with questions about Apple Card.

Persons: Wojtalewicz, Ally Walsh, Casey, Ally, Casey Wojtalewicz, she'll, they're, Daily Cash, Cash, Goldman Sachs Organizations: Apple, Apple Card, Coffee, Savings, Daily, Insider Studios, Goldman Sachs Bank, Salt Lake City Branch, FDIC, Green Dot Bank, Branch, Member FDIC, Apple Cash Card, Minor Outlying Locations: Los Angeles, Echo Park, LA, Salt Lake City, Daily, Salt Lake, American Samoa, Guam, Northern Mariana Islands, United States, U.S

☆ EToro surveyed 10,000 retail investors to see what's in their portfolios. Here's the breakdown of how they're betting on cash, crypto, and their top 3 stock-market sectors.
▼ + stars: | 2024-06-27 | by ( Christine Ji | ) www.businessinsider.com time to read: +4 min

EToro surveyed 10,000 retail investors in 12 countries to see what they're holding in their portfolios, collecting data from the period of May 15 to June 5, 2024. Thirty-eight percent and 32% of retail investors in these countries, respectively, own cryptocurrency, compared to 27% in the US. Top stock market picksEquities remain popular among retail investors, coming in second only to cash. Unsurprisingly, technology was a top pick for retail investors eager to take advantage of the tech-driven market rally of this year. Other areas of interest include real estate, communications, and healthcare, with 30% or more of retail investors indicating that they were invested in these sectors.

Persons: —, eToro, Cash, Sam North, Cryptocurrency Organizations: Service, Business, ECB Locations: EToro, Spain, Germany

☆ It’s raining plastic beer cups at Euro 2024 – on players, fans and TV commentators
▼ + stars: | 2024-06-25 | by ( Ben Morse | ) edition.cnn.com time to read: +2 min

Another phenomenon over the opening 12 days of the European soccer championship, however, has been fans throwing plastic beer cups onto pitches, or onto other fans. Some players have responded with levity – notably France’s Antoine Griezmann who shared a smile with the Netherlands supporters throwing cups near him at the corner flag. Slovenia goalkeeper Jan Oblak takes a freekick during a game against Serbia at Euro 2024 with beer cups around him. “We’re getting soaked,” Murphy said, while Pearce added: “We’re getting absolutely drenched up here.”“This cannot continue, the cups being thrown from the stands,” Pearce said later in commentary. “Players are experiencing plastic cups being thrown at the pitch and it’s happening more and more.

Persons: levity –, Antoine Griezmann, Jan Oblak, Carl Recine, Jonathan Pearce, Danny Murphy, “ We’re, ” Murphy, Pearce, ” Pearce, “, – Organizations: CNN, European soccer, Red Bull Arena, Italy, Croatian, Serbia, England, UEFA, European, Croatia “, The Athletic Locations: Croatia, Italy, Leipzig, Netherlands, Slovenia

☆ Hidden Stashes: Keeping Money Secrets From a Loved One
▼ + stars: | 2024-06-23 | by ( Lisa Rabasca Roepe | ) www.nytimes.com time to read: +1 min

But he soon realized that although he had two and a half years to save for the trip, he wouldn’t have enough, so he increased the deposit to $150. “This went on for a while before my wife noticed that there seemed to be money from my paycheck unaccounted for,” Mr. Shahin said. So his wife, Martha Shahin, knew how much he was paid and how much was deducted. She began asking to see his pay stub, but Mr. Shahin always had an excuse — he didn’t know where it was, he must have left it at work. Mr. Shahin, now 66, finally confessed that he was depositing money into a secret travel fund.

Persons: Ric Shahin, ” Mr, Shahin, Martha Shahin, Ms Locations: Midland, Mich

"[It's] the first car-free neighborhood built from scratch in the U.S.," Ryan Johnson, CEO of Culdesac tells CNBC Make It. Mickey Todiwala. Mickey Todiwala. Mickey Todiwala. Mickey Todiwala.

Persons: Jada Stratman, Ryan Johnson, They're, Mickey Todiwala, I've, I'm, Stratman, who's Organizations: Culdesac, CNBC Locations: U.S, Tempe , Arizona, Culdesac

☆ A retired boomer who moved from the US to Costa Rica said it's 'horribly incorrect' to assume life in Central America is much cheaper
▼ + stars: | 2024-06-21 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Keenan said he's loved the peace and nature of Costa Rica after spending most of his life in Albuquerque. During his time with the insurance company, he attended a retreat in Playa Zancudo, located in the south of Costa Rica. After these visits, he knew he wanted to retire in Costa Rica to live an "easygoing" life far from the US. AdvertisementCosta Rica is more expensive than he thoughtKeenan said that when he first moved to Costa Rica, prices were cheaper than in the US but not by too much. AdvertisementHe never bought a house, as he said the process can take years in Costa Rica.

Persons: Gary Keenan, Little, Keenan, he's, it's, Costa Rica Keenan, José, hasn't, Kelley Organizations: Service, Business, Google, Costa Locations: New Mexico, Costa Rica, Albuquerque, America, Costa, Playa Zancudo, Playa Grande, Guanacaste, Europe, France, José, San Pedro, capital's, Santa Ana, San José, Costa Rican, Panama, Argentina, expats

☆ Regulators hit Citigroup, JPMorgan Chase, Goldman Sachs and Bank of America over living will plans
▼ + stars: | 2024-06-21 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Banking regulators on Friday disclosed that they found weaknesses in the resolution plans of four of the eight largest American lenders. The Federal Reserve and the Federal Deposit Insurance Corporation said that the so-called living wills — plans for unwinding huge institutions in the event of distress or failure — of Citigroup , JPMorgan Chase , Goldman Sachs and Bank of America filed in 2023 were inadequate. Regulators found fault with the way each of the banks planned to unwind their massive derivatives portfolios. The living wills are a key regulatory exercise mandated in the aftermath of the 2008 global financial crisis. "We are fully committed to addressing the issues identified by our regulators," New York-based Citigroup said in a statement.

Persons: Jane Fraser, JPMorgan Chase, Goldman Sachs, credibly, we've Organizations: Citigroup, Banking, Housing, Urban Affairs Committee, Nations Largest Banks, Federal Reserve, Federal Deposit Insurance Corporation, JPMorgan, Bank of America, Regulators, Wall, Goldman, Bank of, FDIC, Citi Locations: New York

☆ A Boston college blames pro-Palestinian student protests for lower enrollment
▼ + stars: | 2024-06-20 | by ( Amanda Goh | ) www.businessinsider.com time to read: +3 min

Read previewStudent protests are one of the reasons Emerson College in Boston is facing a decline in enrollment this fall, an internal message to staff stated, per CBS News. In late April, Emerson students set up a pro-Palestine encampment in a public alley next to Boylston Street, following the student protests that started at Columbia University earlier in the month. AdvertisementThe college enrolled a total of 4,149 undergraduate students in fall 2022, 4,117 in fall 2021, and 3,708 in fall 2020, Boston Herald reported. However, declining college enrollment rates could also be due to the changing sentiments of the younger generation. AdvertisementAdditionally, the availability of high-paying jobs that don't require a college degree has also prompted Gen Zs to rethink college.

Persons: —, Jay Bernhardt, Emerson, Bernhardt, YouGov, Zs, Gen Zs Organizations: Service, Emerson College, CBS, Business, Palestine, Columbia University, Protesters, NBC, Boston Herald Locations: Boston, Gaza, Israel, NBC Boston

☆ Gordon Black: US Soldier sentenced to nearly four years in Russian penal colony, state media reports
▼ + stars: | 2024-06-18 | by ( Cnn Staff | ) edition.cnn.com time to read: +2 min

CNN —A Russian court on Wednesday sentenced a US soldier to three years and nine months in a penal colony on charges of theft and threatening murder, state news agency RIA Novosti reported. Gordon Black was arrested in May on charges of theft in the far eastern city of Vladivostok, where he had traveled to visit a woman, believed to be his girlfriend. Black was also accused of assaulting the woman during a quarrel. The US soldier did not admit to charges of threatening to kill the woman, but partially admitted guilt to theft charges, RIA Novosti previously reported. Black will appeal the sentence handed down by the court in Vladivostok, his lawyer said Wednesday, according to TASS.

Persons: Gordon Black, Black, Paul Whelan, Evan Gershkovich, Gershkovich Organizations: CNN, RIA Novosti, Staff, TASS, RIA, US State Department, Wall Street, Wall, Journal Locations: Vladivostok, Russia, South Korea, Pervomaisky, Washington, Moscow, Ukraine, Yekaterinburg

☆ A team of climbers just summited 3 of the most challenging peaks in the world. They made it even harder by collecting roughly 2,000 pounds of trash along the way.
▼ + stars: | 2024-06-18 | by ( Ellyn Lapointe | ) www.businessinsider.com time to read: +7 min

These three peaks — Mt. Everest, Mt. Professional mountaineer Garrett Madison has achieved the Everest triple crown not once, but twice — first in 2023, the deadliest Everest climbing season on record, and again this year. Plus, the climbers have to carry extra protective equipment like gloves and packages for transporting the trash down the mountain. Madison's cleanup project partners with both of these organizations in a united front against trash pollution on the world's tallest peaks.

Persons: —, Garrett Madison, he's, we've, Madison, PRAKASH MATHEMA, Everest haven't, Troy Aupperle, summitted, Aupperle, PIERRE BESSARD, it's, Alton Byers, Byers, It's Organizations: Service, Business, Madison, DOMA, Everest, Pollution Control Locations: Everest, Mt, Lhotse, Nuptse, microplastics

☆ Gordon Black: Trial of US soldier underway in Russia
▼ + stars: | 2024-06-17 | by ( Sergey Gudkov | Alex Stambaugh | ) edition.cnn.com time to read: +2 min

CNN —A US soldier arrested in Russia on suspicion of theft, Staff Sgt. Gordon Black, has appeared in court in the Russian city of Vladivostok, as his trial got underway on Monday. Black did not admit to charges of threatening to kill a Russian woman, but partially admitted guilt to theft charges, according to Russian state news agency RIA Novosti. Black was arrested in May on charges of theft in Vladivostok, where he traveled to visit the woman, believed to be his girlfriend. The trial comes against the backdrop of heightened tensions between Washington and Moscow, as Russia’s invasion of Ukraine rages on.

Persons: Gordon Black, Black, Cynthia Smith, Evan Gershkovich, Marine Paul Whelan Organizations: CNN, RIA Novosti, US Defense Department, US State Department, Street, Marine, RIA Locations: Russia, Russian, Vladivostok, Korea, South Korea, Washington, Moscow, Ukraine, Pervomaisky

☆ Investors may be looking at commercial real estate risk all wrong and missing these opportunities
▼ + stars: | 2024-06-16 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +6 min

The threat from a looming wave of maturing commercial real estate loans has been well telegraphed to investors, but it's possible the metrics they are using to protect themselves from risk are flawed. Many investors have been avoiding bank stocks with high concentrations of commercial real estate (CRE) exposure. Investors have been punishing regional bank stocks, especially when the bank's commercial real estate exposure tops more than 300% of its total equity . While the latter two have some exposure to New York City real estate, both banks benefit from strong management teams, he said. (New York real estate markets are navigating both falling office values as well as the dynamics of rent-regulated multifamily properties.)

Persons: Erika Najarian, Stephens, Matt Breese, Breese, Webster, Najarian, Piper Sandler, Scott Siefers, Siefers, generalists Organizations: Owners, KBW, Regional Banking, UBS, Federal Deposit Insurance Corp, Federal Reserve, Kansas City Fed, NBT Bancorp, Webster, National Bancorp, Micron Technology, Financial Group, Citizens Locations: New York City, York, . Connecticut, New, New York, Providence, R.I

☆ This sector is loved by Wall Street for its attractive yields and relative value
▼ + stars: | 2024-06-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

High interest rates have been a boon to Americans holding cash, but many on Wall Street are cautioning investors to start thinking ahead. People have been piling into cash vehicles like money market funds and certificates of deposit since the Federal Reserve started hiking interest rates. Interest rates appear to be staying higher for longer, with the Federal Reserve on Wednesday projecting only one rate cut this year. Agency MBS have a duration of about six years, per the Bloomberg US MBS Index as of June 3, Jones noted. Right now, the residential mortgage-backed securities sector looks attractive because of its relative value compared to investment-grade corporate bonds, he said.

Persons: Jones, Leslie Falconio, Fannie Mae, Freddie Mac, Ginnie Mae, Wells Fargo, Luis Alvarado, Alvarado, Falconio Organizations: Federal Reserve, Investment Company Institute, Schwab Center, Financial Research, Agency MBS, Bloomberg, MBS, UBS, Wells, Wells Fargo Investment Institute, Investors, corporates, UBS America's, AAA Locations: UBS Americas, Wells, Wells Fargo

Analyst Brian Essex upgraded Zscaler to overweight from neutral and raised his price target to $230 per share from $205. The bank upgraded the software stock to overweight from neutral on Friday, and raised its price target to $580 per share from $570. Champine reiterated a buy rating on the wholesaler and raised its price target to $940 per share from $890. The analyst upgraded shares of BofA to outperform from market perform and raised his price target to $46 per share from $37. He has an overweight rating and a price target of $52, implying upside of 20% over the next 12 months.

Persons: KBW, Piper Sandler, Pinterest, Brian Essex, Essex, — Brian Evans, Mark Murphy, Laura Champine, Champine, Keefe, David Konrad, Konrad, Brian Evans, Thomas Champion, Fred Imbert Organizations: CNBC, of America, JPMorgan, Security, Zero Trust Network Security, Adobe, Wall, Costco, Bank of America, Bank, America Locations: U.S, Los Angeles

☆ Biden nominates Christy Goldsmith Romero to lead FDIC at pivotal time for the banking regulator
▼ + stars: | 2024-06-13 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

New York CNN —President Joe Biden has nominated Christy Goldsmith Romero as chair of the Federal Deposit Insurance Corporation. Goldsmith Romero, a Democrat, served as special inspector general for the Troubled Asset Relief Program at the Treasury Department that was borne out of the Great Recession. As incoming head of the FDIC, she will largely be viewed as the figure responsible for fixing the longstanding problematic culture at the agency. An independent investigation commissioned by the FDIC released in early May confirmed the Wall Street Journal’s reporting from last year. Gruenberg’s exitUnder pressure from the top-ranking Democrat on the Senate Banking Committee, Sherrod Brown of Ohio, Gruenberg announced he would vacate the position once a new chair is confirmed.

Persons: Joe Biden, Christy Goldsmith Romero, Martin Gruenberg, Goldsmith Romero, Goldsmith Romero “, ”, “, wrongdoers, Sherrod Brown of, Gruenberg, Travis Hill Organizations: New, New York CNN, Federal Deposit Insurance Corporation, Democrat, Troubled Asset, Treasury Department, FDIC, ”, Senate Banking, Republican Locations: New York, ”, Gruenberg’s, Sherrod Brown of Ohio

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