SEC pushes private market access, but retail is already in
As the SEC pushes to widen access to private equity, private credit and other alternative investments, Morgan Stanley and Envestnet are among firms that already have funds no longer aimed exclusively at “accredited investors.”
The markets are consistently mispricing private credit risk
Investors in a panic about private credit valuations need to draw a distinction between funds backing AI-threatened software companies and those whose collateral includes the hard assets of frontier AI companies themselves.
How wide is the gender pay gap among financial advisors?
An albeit smaller sample of financial advisors participating in FP’s Compensation Survey nevertheless reflected the industry-wide trend around gender pay gaps.
PNC is latest bank to say costs will rise alongside revenue
In its latest 2026 guidance, the Pittsburgh-based bank predicted an increase in income, but also an uptick in expenses. Much like JPMorganChase, which made a similar revision to its forecast this week, PNC views the two trends as inseparable.
BNY: AI bet is paying off, client impact is ‘measurable’
“Ultimately, adoption and embedding in a company is going to be the differentiator for many firms on whether or not they’re successful with AI,” said BNY CEO Robin Vince.
Bank of America’s Moynihan touts ‘good economics’ of AI
Increased use of artificial intelligence led to revenue growth and productivity gains during the second quarter, the bank’s leaders said.
CSI purchases treasury payments fintech Qolo
The deal is the latest in a series of acquisitions by bank core provider CSI, which is further expanding its offerings for regional and community banks.
Budget for 6.3% rates through 2027, Fannie Mae warns
Economists at the government-sponsored enterprise have been lowering their single-family origination volume estimates for several months.
Fed Gov. Cook: ‘inflation is simply too high’
Federal Reserve Gov. Lisa Cook said risks, including geopolitical tensions, are tilted toward higher inflation in the near term.
Democrats preview tough oversight of CFPB post midterms
Russell Vought, testifying in front of the House Financial Services Committee for the first time in his tenure atop the bureau, was unapologetic about his attempts to cut the consumer protection agency and its regulation and supervision functions.