SEC moves to nullify pay-to-play ban for federal contracts
The Securities and Exchange Commission proposal would eliminate a ban on investment advisors receiving government contracts within two years of making political contributions. The agency says existing laws can address pay-to-play conflicts of interest.
Schwab raises fees on wealthy clients as upmarket push continues
Fee increases Charles Schwab is adopting for its in-house advisory business will keep a cheaper alternative for high net worth clients while helping to plug revenue holes.
Walmart-linked fintech’s banking incursion reaches autos
OnePay’s My Garage combines payments and financial information as it continues to build out a financial app.
Tax ‘traps’ and capital gains strategies for in-kind charitable donations
While donating stock is a clear win for clients to avoid capital gains taxes, gifts of property require a qualified appraisal to get a deduction.
GAO flags disclosure gaps exposed by 2023 bank failures
Two of the banks that collapsed in 2023 were subject to a weaker system of investor-disclosure oversight than most public companies, prompting the government watchdog to call for changes.
SoFi-Kraken partnership connects banking, digital assets
The digital bank announced a collaborative partnership with the crypto exchange platform as it continues to expand its overall digital asset strategy.
Press Release: FDIC Issues List of Banks Examined for CRA Compliance
PRESS RELEASE | SEPTEMBER 4, 2026 FDIC Issues List of Banks Examined for CRA Compliance WASHINGTON—The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in June 2026. The CRA […]
Labor market rebounds, but all eyes are on inflation for Fed
The U.S. economy added 162,000 jobs in August, bouncing back from a surprise decline in July. The Fed’s next interest rate decision will still hinge on next week’s inflation reading.
The Clarity Act would create some much-needed certainty for banks
One of the benefits of the Clarity Act is that it would codify much of digital asset firms’ anti-money-laundering responsibilities. This is good news for banks that have been understandably nervous about counterparty risk.
Private-sector deposit insurance is reemerging. Can it work?
A new consortium of community banks plans to offer deposit insurance above the FDIC’s $250,000 limit. But skeptics say such private-sector efforts have a spotty history.