$1.25B AUM ex-First Republic team exits JPMorgan, joins Janney
The Apollo Group, a six-person team in New York, is the latest to show that former First Republic advisors are still not completely settled at JPMorgan.
‘We won’t cede any ground’: Huntington’s embedded payments push
Huntington is among the banks investing in technology that embeds payments and financial services into non-financial functions — a move designed to counter the encroachment of digital wallets and fintechs.
Sellers outnumber buyers by record margin in February
There were an estimated 630,000, or 46.3%, more home sellers than buyers in the United States in February, according to a Redfin report.
Fed’s Miran says oil shock unlikely to alter rate outlook yet
Federal Reserve Gov. Stephen Miran said it is too early to judge how U.S. involvement in the war with Iran will affect inflation and monetary policy.
Swalwell drops Pulte suit while FHFA fraud probes stall
The Trump administration hasn’t formally charged Swalwell, Adam Schiff or Lisa Cook, while a federal court tossed a prosecution against Letitia James.
Wall Street-style drama for two credit unions and a community bank
Two credit unions in San Diego are locked in a bitter fight over a proposed merger; and a community bank in upstate New York fights off a corporate raider.
Trump should scrap his plan to make bank customers prove citizenship
A rumored executive order that would require banks to verify the citizenship of their account holders would be incredibly burdensome for banks. It would also result in the “debanking” of untold numbers of Americans.
‘I did not call myself a dictator:’ Credit-union CEO
Todd Lane, the CEO of California Coast Credit Union, described an allegation by an executive at San Diego County Credit Union as “categorically inaccurate.” The two institutions are locked in a legal fight after their agreement to merge turned contentious.
Formerly ‘troubled’ bank reaches truce with activist investor
Lake Shore Bancorp in Western New York has reached a “standstill agreement” with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
The case for banks to offer digital asset custody
Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.