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☆ 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

☆ What the Fed’s interest rate decision means for your savings
▼ + stars: | 2024-06-12 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

Online high-yield savings accountsThe best bang for your savings can still be had in online high-yield savings accounts at FDIC-insured banks, which yield way more than today’s 0.58% overall average savings rate. As of June 11, the average online savings account rate was 4.40%, according to DepositAccounts.com. If you leave it parked in a regular savings account at 0.5%, you’ll get $50 in interest for a year. As with any savings account, banks can lower the rate they offer — also known as the APY — at any time. Money market accounts and money market fundsMoney market deposit accounts and money market mutual funds are generating yields competitive with the best high-yield savings accounts.

Persons: ’, ”, Greg McBride, ” McBride, you’ll, —, McBride, “, Collin Martin, Martin Organizations: New, New York CNN, Federal Reserve, National Credit Union Share Insurance, Securities Investor Protection Corporation, Treasury, Fed, Schwab Center, Financial Research Locations: New York, Schwab.com, United States

☆ Sallie Mae hikes yield on 1-year CDs as Fed stays in rate policy holding pattern
▼ + stars: | 2024-06-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Last week, Sallie Mae boosted the annual percentage yield for its 12-month CD by 10 basis points, or 0.10% week over week, to 5.15%. Certificate of deposit rates have come a long way since the Fed started raising interest rates in March 2022. The average online bank APY has gone up by 4.14 percentage points to 4.79% since then, Wells Fargo analyst Michael Kaye said in a note Friday. Since banks generally follow the fed funds rate, interest rates on CDs and savings accounts are expected to fall in turn. "Broadly we still expect online bank deposit rates to decline," BTIG's Caintic said.

Persons: Sallie Mae, we're, Vincent Caintic, Wells Fargo, Sallie Mae's, APY, Wells, Michael Kaye, BTIG's Caintic, Morgan Stanley, BOK Organizations: Federal Reserve, Fed, New York Community Bancorp, Federal Deposit Insurance Corp, FDIC, Bank, Bank of America Locations: Wells, Wells Fargo, company's

☆ Former FDIC chair Sheila Bair on promoting regional bank mergers: They need scale to compete
▼ + stars: | 2024-06-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer FDIC chair Sheila Bair on promoting regional bank mergers: They need scale to competeSheila Bair, former FDIC chair and a Systemic Risk senior advisor, joins 'Squawk Box' to discuss why she's in favor of promoting regional bank mergers, concerns over concentration in the banking industry, how banking regulation and mergers will be regulated under different administrations, state of the FDIC, and more.

Persons: Sheila Bair Organizations: FDIC

☆ Synapse bankruptcy trustee says $85 million of customer savings is missing in fintech meltdown
▼ + stars: | 2024-06-07 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

Al Drago | Bloomberg | Getty ImagesThere is an $85 million shortfall between what partner banks of fintech middleman Synapse are holding and what depositors are owed, according to the court-appointed trustee in the Synapse bankruptcy. Customers of fintech firms that used Synapse to link up with banks had $265 million in balances. But the banks themselves only had $180 million associated with those accounts, trustee Jelena McWilliams said in a report filed late Thursday. The missing funds explain what is at the heart of the worst meltdown in the U.S. fintech sector since its emergence in the years after the 2008 financial crisis. She said Synapse apparently commingled funds among several institutions, using multiple banks to serve the same companies.

Persons: Jelena McWilliams, Al Drago, Andreessen Horowitz, McWilliams, Bank —, it's, Banks, Cravath, Judge Martin Barash Organizations: Federal Deposit Insurance Corporation, Banking, Housing, Urban Affairs Committee, Washington , D.C, Bloomberg, Getty, Synapse, Evolve Bank & Trust, American Bank, AMG, Bank, Partner Bank Locations: Washington ,, U.S, what's

☆ Higher interest rates have created 63 'problem banks' and $517 billion in unrealized losses, FDIC says
▼ + stars: | 2024-06-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +1 min

High interest rates continue to put pressure on the US banking system. The FDIC said the US banking system has 63 "problem banks" and is sitting on $517 billion in unrealized losses. AdvertisementMore than a year after the downfall of Silicon Valley Bank, higher interest rates are still putting pressure on the US banking system. According to the Federal Deposit Insurance Corporation's first quarter report, the US banking system is sitting on a collective $517 billion in unrealized losses and has 63 "problem banks." Those losses have been sparked primarily by a surge in interest rates over the past two years, which have driven down the price of fixed-income securities held by banks.

Persons: — Organizations: FDIC, Service, Valley Bank, Federal Deposit Insurance, Business

☆ Don't be so quick to take money advice from TikTok — here's why
▼ + stars: | 2024-06-02 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

Before passing on a movie or dinner date, consider that turning down those invitations can "lead to frustration and emotional distress," he said. watch nowThere may be better ways to cut back, Hoffman advised, without sacrificing time with the people close to you. This seems like a good idea "with a relatively low ceiling," according to Matt Schulz, chief credit analyst at LendingTree. In this case, if you had $5,000 in a high-yield savings account earning 5%, you would have made roughly $250 in interest in a year. 'Cash stuffing' also forfeits interestAnother envelope method, called "cash stuffing," advocates for dividing up your spending money into envelopes representing your monthly expenses, such as groceries and gas, to stay on budget and out of debt.

Persons: Paul Hoffman, Hoffman, you'll, Matt Schulz, Bankrate.com Organizations: Getty, Federal Reserve, FDIC

☆ Savings app CEO says 85,000 accounts locked in fintech meltdown: ‘We never imagined a scenario like this’
▼ + stars: | 2024-06-01 | by ( Hugh Son | ) www.cnbc.com time to read: +4 min

Instead, his company has inadvertently been a source of deep pain for thousands of customers who relied on Yotta accounts to receive paychecks, pay bills and save for emergencies. For the past three weeks, 85,000 Yotta customers with a combined $112 million in savings have been locked out of their accounts, Moelis told CNBC. Accounts at crypto firm Juno and at Copper, which offered savings accounts for families and teens, also have been frozen. Adam Moelis, Co-Founder at Yotta Savings. Representatives of the agencies have pointed to efforts they've made to encourage banks to manage the risks of using fintech partners.

Persons: Oscar Wong, Adam Moelis, Trust —, Moelis, Dave, We've, they've Organizations: Synapse, Bank, Trust, CNBC, Evolve Bank, Evolve, Mercury, Yotta Savings, Federal Reserve, Federal Deposit Insurance Corp Locations: Tennessee, Yotta, fintech

☆ FDIC did not report allegations of senior officials' misconduct 'in a timely manner,' watchdog says
▼ + stars: | 2024-05-24 | by ( Josephine Rozzelle | ) www.cnbc.com time to read: +3 min

The Federal Deposit Insurance Corp. failed to report allegations of senior officials' misconduct in a timely manner, according to a new memo from the agency's internal watchdog. The Office of Inspector General "learned of several allegations of misconduct regarding senior FDIC officials that were not reported to the OIG in a timely manner," said the letter, dated Thursday. "The OIG is now reviewing these allegations to determine how they should be incorporated into OIG work plans." A scathing independent report published in April found a widespread culture of harassment and discrimination at the FDIC, citing allegations from more than 500 FDIC employees. "The FDIC has failed to provide a workplace safe from sexual harassment, discrimination, and other interpersonal misconduct," the report concluded.

Persons: Martin Gruenberg, Jennifer Fain, Gruenberg, General, Fain, Gruenberg —, Joe Biden, —, Republican Travis Hill, Biden Organizations: Federal Deposit Insurance Corporation, Financial, Federal Deposit Insurance Corp, FDIC, FDIC's, Republican, GOP, Financial Services, White Locations: Washington , DC

☆ Jane Seymour on Her Best Movie & TV Roles: 'Wedding Crashers,' 'Dr. Quinn,' 'Bond'
▼ + stars: | 2024-05-23 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +14 min

AdvertisementI had to look and play a virgin — which I managed to do quite convincingly into my 40s on "Dr. Quinn," by the way. But I've only ever done two TV series, so now it's "Dr. Quinn" or "Harry Wild." AdvertisementAnd by the way, I got the worst reviews ever on "Dr. Quinn" as well. Studio Seven Productions/NM/Sygma via Getty ImagesI was going to bring up "Dr. Quinn" next — did you expect it to turn into such a beloved show when you initially signed on? There's another factoid that when I did "Dr. Quinn," I only washed my hair in English rainwater that was flown in on a 747 every week.

Persons: Roger Moore, Jane Seymour, Bond, Seymour, Harry Wild, she's, She's, Lindsay Lohan's, — she's, Christopher Reeve, Quinn, " Milne, I'd, It's, I'm, I've, Christopher Reeve Jane Seymour, Eddie Sanderson, Dana, Reeve, Chris, —, Sir, Shaw, Colin Powell, Dr, Doctor Quinn, Jane, she'll, we've, it's, Owen Wilson, You've, it'd, Owen, I'm Kitty Cat, Steffan, Princess Leia, Spielberg, Richard Chamberlain Organizations: Business, Acorn, Netflix, Hearts Foundation, Medicine, Seven, Getty, CBS, Orange, Raiders Locations: English, Dublin, Calgary, Eden, Hong Kong, New York, Mexico

☆ Fintech nightmare: 'I have nearly $38,000 tied up' after Synapse bankruptcy
▼ + stars: | 2024-05-22 | by ( Hugh Son | ) www.cnbc.com time to read: +4 min

The situation deteriorated in April after Synapse declared bankruptcy following the exodus of several key partners. That has left users of several fintech services stranded with no access to their funds, according to testimonials filed this week in a California bankruptcy court. One customer, a Maryland teacher named Chris Buckler, said in a May 21 filing that his funds at crypto app Juno were locked because of the Synapse bankruptcy. Synapse had contracts with 20 banks and 100 fintech companies, resulting in about 10 million end users, according to an April filing from founder and CEO Sankaet Pathak. The freeze-up of customer funds exposes the vulnerabilities in the banking as a service, or BAAS, partnership model and a possible blind spot for regulatory oversight.

Persons: Andreessen Horowitz, Chris Buckler, Buckler, Dave, Juno, Sankaet Pathak, Pathak, Joseph Dominguez, Dominguez, Jason Mikula, Mikula Organizations: Istock, Synapse, Evolve Bank & Trust, Mercury, CNBC, Evolve Bank, Trust, Regulators, FDIC, Federal Reserve Locations: California, Maryland, Joseph Dominguez of Sacramento , California, Silicon

☆ Jamie Dimon might finally be ready to call it quits
▼ + stars: | 2024-05-21 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The big storyA retirement loomsMarianne Ayala/BIThe world's most recognizable banker might finally be ready to call it quits. The comings and goings of Wall Street executives are common, even at the highest levels. Wall Street has long speculated about who will ultimately succeed Dimon. Martin Gruenberg has told staff he'll stand down as chairman once a replacement has been found , per The Wall Street Journal. A report from the Wall Street Journal says the company hopes to conduct its next implant in June.

Persons: —, Jamie Dimon's, Marianne Ayala, Jamie Dimon, Insider's Paul Squire, nodded, Morgan Stanley, JPMorgan's, Tom Williams, Dimon, Jennifer Piepszak, Marianne Lake, Troy Rohrbaugh, BI's Reed Alexander, Reed, M, Alyssa Powell, Goldman Sachs, Lindsay MacMillan, Nancy Lazar, Piper, Martin Gruenberg, OpenAI, Scarlett Johansson, Sam Altman's, Andrea Chronopoulos, they're, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Navy SEAL, Business, JPMorgan, Street, Citi, Bank, Inc, Getty, Wall, Dimon, Bank of America, FDIC, Microsoft, Wall Street Journal Locations: New York, London

☆ Jamie Dimon is worried about how much the US is borrowing. Here’s why
▼ + stars: | 2024-05-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —Major business leaders and economists are worried about America’s growing debt problem. Last week, JPMorgan CEO Jamie Dimon expressed fear that a crisis is looming and that unchecked deficit spending could explode. The big picture: Between the Trump-era tax cuts and Covid-era stimulus programs, the national debt has exploded in recent years. Trump Media (DJT) reported a loss of $327.6 million during the first three months of the year, compared with a loss of $210,300 a year earlier. The company generated just $770,500 of revenue, marking the second-straight quarter where its revenue totaled less than $1 million.

Persons: Jamie Dimon, ”, ” Dimon, “, Ray Dalio, Columbia Business School Glenn Hubbard, Joe Biden’s, Jason Thomas, Carlyle, ” Thomas, Hanna Ziady, Liz Truss, Treasuries, Hubbard, Thomas, it’s, Donald Trump, Matt Egan, Devin Nunes, Martin Gruenberg, Elisabeth Buchwald, ” Gruenberg, Sen, Sherrod Brown, Gruenberg, He’s, Cleary Gottlieb Steen, Gruenberg’s, Gruenberg Organizations: CNN Business, Bell, New York CNN —, JPMorgan, Sky News, Financial, Columbia Business School, United, CNN, IMF, Congressional, Office, Peterson Foundation, Treasury, Trump Media, Trump Media & Technology Group, Truth Social, Company, Big Tech, ” Trump Media, Federal Deposit Insurance Corporation, Senate Banking Committee, FDIC, Hamilton Locations: New York, Bridgewater, United States, —, United, United Kingdom

☆ FDIC chairman Martin Gruenberg to resign following investigations into sexual harassment at the bank regulator
▼ + stars: | 2024-05-21 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

The report also probed FDIC chairman Martin Gruenberg's strong temper. Staying in office would prevent FDIC vice chairman Travis Hill, a Republican, from becoming the agency's acting chairman. The White House said that President Joe Biden would soon nominate a new FDIC chairman and that it expects the Senate to move quickly to confirm the nominee. "I accept the findings of the reports and as chairman, I take full responsibility to anyone who has experienced sexual harassment, discrimination or other misconduct at the FDIC," Gruenberg said at the hearing. Investigators said they set up a hotline in mid-January and received more than 500 complaints — largely from current employees — about sexual harassment, discrimination, and other issues.

Persons: —, Martin Gruenberg's, Gruenberg, Travis Hill, Joe Biden, Cleary Gottlieb Steen, Hamilton Organizations: Service, Federal Deposit Insurance Corporation, Business, Democratic, Wall Street, Republican, Journal, Senate, FDIC

☆ Senate Banking Chair Sherrod Brown calls for new FDIC leadership after misconduct report
▼ + stars: | 2024-05-20 | by ( Josephine Rozzelle | ) www.cnbc.com time to read: +1 min

Sen. Sherrod Brown, D-Ohio, on Monday called on President Joe Biden to replace Federal Deposit Insurance Corporation Chairman Martin Gruenberg after allegations of widespread sexual harassment and misconduct within the agency. There "must be fundamental changes at the FDIC," Brown, who chairs the Senate Committee on Banking, Housing, and Urban Affairs, said in a statement. With his statement, Brown broke from fellow Democrats, who have largely condemned the allegations but refrained from pushing for Gruenberg's resignation, instead calling for him to drive changes at the agency. Law firm Cleary Gottlieb in April released a scathing report detailing an alleged culture of "sexual harassment, discrimination, and other interpersonal misconduct" at the FDIC. In one instance, Gruenberg allegedly screamed profanities at employees after they delivered bad news, the report said.

Persons: Sen, Sherrod Brown, Joe Biden, Martin Gruenberg, Brown, Cleary Gottlieb, Gruenberg Organizations: Federal Deposit Insurance, FDIC, Banking, Housing, Urban Affairs, Senate, Biden, Employees Locations: Ohio

☆ FDIC Chair Martin Gruenberg will resign following a scathing investigation that detailed a toxic workplace
▼ + stars: | 2024-05-20 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: 1 min

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☆ Senate Banking Committee Chair Martin Gruenberg calls for ‘new leadership’ at the FDIC following scathing report
▼ + stars: | 2024-05-20 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: 1 min

☆ Investors and economists are getting worried about more bank failures as interest rates stay high
▼ + stars: | 2024-05-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Fears of a potential banking crisis are on the rise as interest rates stay elevated. Interest rates are now at their highest levels since 2001 as the Fed keeps an eye on inflation. Markets have already seen 1 regional bank fail this year, according to FDIC data. According to Moody's Analytics chief economist Mark Zandi, the longer interest rates stay high, the more the Fed risks damaging the economy. "That's the kind of thing I'm worried about in the context of persistently high interest rates."

Persons: —, Mark Zandi, That's, Barry Sternlicht, Sternlicht, Daniel Pinto Organizations: Fed, Service, Analytics, Yahoo Finance, Bank, Regulators, First Bank, Fulton Bank, Stanhope Capital, Bloomberg Locations: Philadelphia, America

I've been working with wealthy clients for nearly 15 years, and I've noticed a few common habits. I've been advising wealthy clients for nearly 15 years, and I'm often asked for the secret sauce, or the commonalities I see in my wealthiest financial-planning clients that make them successful. My most successful clients lean on us to help them separate those emotions and make sound financial decisions. My most successful clients value receiving comprehensive financial plans specific to their goals and situations. My most successful clients value receiving comprehensive financial plans specific to their goals and situations.

Persons: I've, —, I'm, that's, they've, doesn't Organizations: Service, Everest, Google, Jobs, Relief, Economic Security Locations: Policygenius

☆ Blackstone says the real-estate market is bottoming. Here are 7 ways it's getting ahead of the situation.
▼ + stars: | 2024-05-08 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +2 min

This story is available exclusively to Business Insider subscribers. We found the firm has been spending on distressed real estate, such as its purchase of loans from the FDIC after the failure of Signature Bank, as well as investments in buzzy real estate, like data centers. In a January earnings call, Blackstone president Jonathan Gray announced that commercial real estate, which recently suffered its biggest price declines in half a century, could soon hit bottom. "While it will take time, we can see the pillars of a real estate recovery coming into place." Here are the 7 recent real estate and real-estate-adjacent deals that show how Blackstone is trying to get ahead of the CRE bottom in chronological order.

Persons: Jon Gray, Blackstone, Gray, Jonathan Gray Organizations: Business, Signature Bank

☆ The FDIC is a 'boys club' where some senior execs pursued romantic relationships with their staff, says new report
▼ + stars: | 2024-05-08 | by ( Meghan Morris | ) www.businessinsider.com time to read: +4 min

The Federal Deposit Insurance Corporation, or FDIC, has a "patriarchal" culture, according to an independent report. The bank regulator took no action on dozens of harassment complaints and moved wrongdoers around. The report said the FDIC has dismissed myriad harassment complaints and that wrongdoers are moved around internally or promoted. AdvertisementThe independent investigators spent nine pages discussing FDIC chairman Martin Gruenberg's conduct. The FDIC did not immediately respond to a request for comment from Business Insider sent outside standard hours.

Persons: —, Cleary Gottlieb Steen, Hamilton, Martin Gruenberg's, Gruenberg, Travis Hill, Karine Jean, Pierre didn't Organizations: Federal Deposit Insurance Corporation, Service, Wall Street Journal, FDIC, Democrat, Republican, White, Business Insider Locations: wrongdoers, Gruenberg

☆ The Chair of the FDIC is facing calls to resign after scathing report. The implications for banks could be significant
▼ + stars: | 2024-05-08 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New York CNN —Martin Gruenberg, the chair of the Federal Deposit Insurance Corporation, is facing a barrage of calls from lawmakers to resign after a scathing 234-page report released Tuesday detailed pervasive sexual harassment, discrimination and bullying at the agency. If he heeds the calls, there could be significant ramifications for banks across the country. “We do recognize that, as a number of FDIC employees put it in talking about Chairman Gruenberg, culture ‘starts at the top,’” the report said. Gruenberg’s temperament “may hinder his ability to establish trust and confidence in leading meaningful culture change,” the report added. Aside from Democratic Rep. Bill Foster, Democrats have stopped short of calling on Gruenberg to resign.

Persons: New York CNN — Martin Gruenberg, Cleary Gottlieb Steen, Gruenberg, ‘, ’, “, ” That’s, CNN Gruenberg “, Joe Biden, Bill Foster, That’s, Travis Hill, Rulemaking, ” Dennis Kelleher, Hill, Cowen, Sen, Elizabeth Warren aren’t, Karine Jean, Pierre didn’t, Biden, Kelleher Organizations: New, New York CNN, Federal Deposit Insurance Corporation, Hamilton, FDIC, CNN, Democrat, Democratic Rep, Republican, Senate, Democratic, Better, Federal Reserve, White Locations: New York, Basel

☆ U.S. probe finds widespread sexual misconduct at FDIC
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: +2 min

The Federal Deposit Insurance Corporation must make sweeping changes to address widespread sexual harassment and other misconduct, according to an independent report released on Tuesday that raises questions about the future of the banking regulator's leadership. The report, prompted by a Wall Street Journal investigation, cited accounts from more than 500 people, including some who alleged FDIC Chair Martin Gruenberg had engaged in bullying and verbal abuse. "For far too many employees and for far too long, the FDIC has failed to provide a workplace safe from sexual harassment, discrimination, and other interpersonal misconduct," said the report, adding that those accused of misconduct were frequently reassigned new roles. "Chair Gruenberg must accept responsibility and must immediately work to make fundamental changes to the agency and its culture." Some employees described Gruenberg as "harsh" and "aggressive", as well as prone to losing his temper, the report said.

Persons: Martin Gruenberg, Cleary Gottlieb, Gruenberg, Patrick McHenry, Sherrod Brown Organizations: Federal Deposit Insurance Corporation, Wall Street Journal, FDIC, WSJ, Democrat, Republican, Financial Services, Banking, Housing, Urban Affairs Committee

☆ The next airport terminal lounge or club you pass may also be a bank branch
▼ + stars: | 2024-05-03 | by ( Kevin Williams | ) www.cnbc.com time to read: +9 min

"One woman wanted to rent my office to work," remembers Lisa Slocum, the airport Fifth Third Bank branch manager. Capital One closed its branch at Washington, D.C.'s Dulles International Airport in 2020, instead creating "airport lounges" for cardholders in Dulles, along with similar spots at airports in Denver and Dallas. Yet full-service airport bank branches are a relative rarity, surprising in a retail landscape that often resembles an upscale mall more than a terminal. Fifth Third BankWells Fargo operates a full-service branch in Las Vegas's Harry Reid International Airport, and according to a bank spokeswomen, has a multi-year relationship with the airport that involves both the branch and multiple ATMs throughout terminals. McAdam says ATMs and advanced-function kiosks are one thing, but a full-service branch, except maybe in the largest markets, is overkill.

Persons: Kevin Williams Nicolette Nelson, Nelson, It's, Lisa Slocum, Slocum, Hannah Thelen, Ashley Thelen, Mindy Kershner, CVG's, Marketing Brent Andersen, Andersen, that's, Chase, John Sieg, Sieg, Harry Reid, Wells Fargo, Brian Davis, Paul McAdam, Power, McAdam Organizations: Northern, Northern Kentucky International, Fifth Third Bank, Fifth, Bank, TSA, Third, Dulles, Airport, Capital One, Washington , D.C, Wings Credit Union, Paul International Airport, Wings, Marketing, JPMorgan Chase, PNC, Sky, Fifth Third Bank Wells, Harry Reid International Airport, Truist Bank, Hartsfield, Jackson Atlanta International Airport, Financial Locations: Fairbanks, Cincinnati, Northern Kentucky, Spain, Washington ,, cardholders, Dulles, Denver, Dallas, it'd, Kentucky, Minneapolis, St, Las, Vegas, New York City, New York

☆ Why hundreds of U.S. banks may be at risk of failure
▼ + stars: | 2024-05-01 | by ( Andrea Miller | In Dreajmiller | ) www.cnbc.com time to read: +1 min

Hundreds of small and regional banks across the U.S. are feeling stressed. "You could see some banks either fail or at least, you know, dip below their minimum capital requirements," Christopher Wolfe, managing director and head of North American banks at Fitch Ratings, told CNBC. Consulting firm Klaros Group analyzed about 4,000 U.S. banks and found 282 banks face the dual threat of commercial real estate loans and potential losses tied to higher interest rates. "That means there'll be fewer bank failures. For individuals, the consequences of small bank failures are more indirect.

Persons: Christopher Wolfe, They're, Brian Graham, Graham, Sheila Bair Organizations: Fitch, CNBC, Consulting, Klaros, U.S . Federal Deposit Insurance Corp, FDIC Locations: U.S

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