Wells Fargo raises hurdle for higher advisor payouts for first time in 5 years
Wells Fargo Advisors Head Sol Gindi says advisors on average will have to increase their revenue generation by about 2% annually to make up for the change.
Mastercard touts the importance of agentic tokens
CEO Michael Miebach said during the company’s third-quarter earnings call that one-time virtual cards as a go-between were not a long-term solution to facilitate agentic payments.
Ex-Treasury Sec. Paulson urges US to tame national debt
Henry Paulson, who helped steer the country through the global financial crisis, says the nation’s ballooning deficits threaten to cause another disaster.
When should RIAs hand clients to next-generation advisors?
With more than 72% of rookie advisors leaving the profession, firms need to train junior advisors well. Here’s how they do it.
Happen Bank ties 26% credit growth to home improvement loans
The lender-turned-bank is protecting itself against rising interest rates with extra hedging investments and anticipating external AI agent activity.
Freddie Mac’s loan acquisitions top Fannie’s as rates rise
Freddie has a smaller outstanding portfolio than Fannie but it has been more competitive when it comes to the dollar volume of single-family mortgages it buys.
Amex recruits its next chief risk officer from US Bancorp
Jodi Richard, who has been U.S. Bancorp’s risk chief since 2018, will oversee American Express’ global risk organization. The hire comes as Amex deals with anti-money-laundering compliance penalties.
ICE execs brush off spinoff talk amid mortgage challenges
The mortgage technology unit of Intercontinental Exchange also said in an earnings call that it will allow customer AI agents access through a new protocol.
Hassett sees Fed acting if October inflation data come in high
Hassett was speaking shortly after the latest PCE inflation report showed that core price gains, which exclude food and energy, clocked a 3.1% year-on-year pace for September.
Watch spreads, not the Fed, for mortgage rate shifts
Concerns regarding AI companies’ ability to handle inflation drove the 10-year Treasury under 5%, but with data still running hot, could yields turn upward?