Why the way advisors talk about Social Security changes claiming plans
Focusing on minimum or maximum ages to claim Social Security benefits has an effect on retirement planning, new research shows.
Even the largest U.S. banks measure AI returns differently
JPMorgan and BofA executives discuss AI returns differently. An American Banker survey finds banks that use pre-AI baselines more likely to quantify AI ROI.
Fed’s preferred inflation measure comes in hot at 3.6%
The Bureau of Economic Analysis’ PCE index came in at an annualized rate of 3.6%, confirming that prices continue to rise faster than the Federal Reserve’s 2% target.
Digital assets will usher in multiple paradigm shifts in banking
The adoption of digital assets and the technology enabling consumers to transact with them at all times will have far-reaching effects on how financial services are delivered — many of which we can’t yet imagine.
Fed will drop one interest rate vote next year; two in 2028
Federal Reserve Chair Kevin Warsh said the Federal Open Market Committee will continue to meet eight times a year, but one such meeting will not include an interest rate vote or an official policy statement.
A guide to getting AI buy-in as RIAs look to scale
Two experts discussed how they’ve gotten AI use at their firms to go from a few power users to part of the culture — and what they’ve gained because of it.
Renasant eyes trust boost from deal for Tennessee bank
Renasant CEO Kevin Chapman said the much smaller acquiree has been growing its trust business “a notch or two faster” than his own Tupelo, Mississippi-based company.
BofA adds Wisconsin to branch map, with more states to come
Bank of America announced five new locations in Wisconsin, and said it plans to expand into Alabama and Louisiana next year. All three states are new to the lender’s branch network.
Ramp, Tipalti, Ripple hit the gas on business banking
The fintechs are pouring resources into technology to provide an alternative to traditional banks and payment companies.
UMB says deal gives it access to wealth fleeing California
The Midwestern regional bank is planning to acquire a small community bank in northern California. UMB executives said the deal offers low-cost deposits and a presence in parts of Nevada where wealthy Californians are relocating to avoid higher taxes.