Merrill announces laser-targeted advisor bonus incentives for 2027
Industry consultants say one of the surest ways to lose advisors is to make frequent changes to their pay. Perhaps with this in mind, Merrill sticks to its basic compensation grid while seeking to boost recruiting.
Bread: Inflation making spending ‘increasingly selective’
While credit sales grew 9% in the third quarter, Bread Financial CEO Ralph Andretta said that consumers with lower credit scores showed greater selectivity in their purchasing patterns.
Visa, Mastercard bet on AI, crypto ahead of earnings
With the big card companies scheduled to issue quarterly reports next week, they’re releasing a number of products that support digital assets and artificial intelligence.
‘Tell me what you think’: Challenges of managing AI users
Speakers at the Most Powerful Women in Banking conference shared some of the challenges they are dealing with as employees lean on AI agents and AI agents start to become employees.
DC-area bank sees profits rise as new CEO seeks turnaround
Eagle Bancorp’s higher-risk loans declined 41% from a year earlier, but its nonperforming assets rose. New CEO Stephen Curley is working to strengthen the bank’s balance sheet, which has been hurt by troubled office loans, and expand lending.
Truist axes ‘leadership center’ as new CEO scrutinizes bank
The regional bank said it will close the Truist Leadership Institute by the end of the year. The announcement comes just weeks after the arrival of CEO Mike Lyons, who is conducting a detailed review of Truist’s businesses and operations.
New law requires dating apps to help block romance scams
The ICBA-supported Romance Scam Prevention Act requires fraud-ban notices that most apps already send.
Gould: banks preparing for rogue AI agents for ‘months’
Comptroller of the Currency Jonathan Gould said Thursday that national banks are “well fortified and well guarded” against cyberattacks, but stayed mum on who is liable when breaches occur.
As smaller rivals keep quiet, Axos opens up on custody fees
Axos Advisor Services, Hilltop Securities and Innovayte may not be as large as industry giants like Schwab, Fidelity and Pershing, but each has built a solid base of clients. And the three underdogs may have more opportunity in a fast-shifting fight for RIA clients.
A ‘double-flywheel’ effect is about to transform financial services
The application of AI agents operating on new payment rails and the rapid adoption of tokenized assets will work together to drive changes to the banking industry at an unprecedented pace, scale and breadth.