Thomas J. Wurtz will step down as chief financial officer of Wachovia Corp., Charlotte, N.C., after a successor has been named, according to the company. Wachovia said it will immediately launch a search for a replacement. The reason for Mr. Wurtz's decision to step down was not disclosed. He served as the company's treasurer for seven years before becoming CFO two-and-a-half years ago, Wachovia said. The company can be found on the Web at http://www.wachovia.com.
The D.C. Circuit Court of Appeals halted the Trump administration's attempt to fire nearly two-thirds of the Consumer Financial Protection Bureau's workforce, upholding a March 2025 injunction.
Anthropic's head of banking told New York Banking Summit attendees that the future is agents that operate autonomously alongside employees.
The industry association said total multifamily mortgage debt alone increased by $23 billion, or 1% in Q1, representing a $2.32 trillion increase from Q4 2025.
Chair Travis Hill said SVB showed banks can't always sell securities fast enough to cover deposit outflows, but acknowledged the "stigma problem" with discount window borrowing remains unsolved.
The merger will bolster existing safeguards against AI threats, while providing a tool that should appeal to young homebuyers, leaders of the companies said.
At a conference in New York, Joseph Otting reflected on the difficult hiring decisions he made early in his tenure heading Flagstar Bank, which just two years ago was on the verge of collapse.
