Why BMO is selling its transportation, vendor finance portfolios
The Canadian bank signed an agreement to sell the businesses to Stonepeak, an alternative investment firm in New York. The move will free up capital and allow the bank to invest in higher growth-potential areas.
Treasury staffer Crews nominated to lead NCUA
President Donald Trump has tapped Treasury official John Crews to be the next chair of the National Credit Union Administration.
Corporate card fintech Parker shuts down without warning
Parker Group unexpectedly ceased operating last week, then filed for Chapter 7 bankruptcy a few days later as sponsor banks and customers were left scrambling.
Energy shock drives consumer prices up 0.6% in April
The Consumer Price Index for April showed consumer prices rising across all categories, including food and shelter costs, and up 3.8% year-over-year. Grocery prices rose 0.7% from the month prior.
Why advisors should see life settlements as a planning option
Allowing clients to surrender or lapse life insurance policies before gauging value on the secondary market amounts to a fiduciary fail, argues Cole Hallman of Citizens Life Group.
‘Credit access is absolutely a problem’: Upstart’s Paul Gu
The company’s new CEO, and long-time chief technology officer, shares his views on why some banks are stuck in old ways of determining creditworthiness, how Upstart has been modifying its underwriting models and the objections people sometimes have to AI-based lending.
Deposit insurance should prevent bank runs, not just react to them
Calls to replace proposed deposit insurance reforms with a revived Transaction Account Guarantee program would make the federal government’s role in a bank run purely reactive. That would be a mistake.
Missouri bank faces call for boycott over data-center controversy
Plans were moving along smoothly for a new data center in Franklin County, Missouri — until residents found out about it. Now the project is facing a fierce public backlash, and a local community bank is caught in the crossfire.
How high can gas prices go before they do some real damage?
The economy is already showing signs of stress from the oil crisis. How much longer will it last, and is there a red-line number that breaks the economy?
Boston-area bank will host retail incubator in new branch
The Village Bank is already mulling expanding the concept to other locations if the one planned for its Wellesley, Mass., office lives up to expectations.