M&T says it’s monitoring impact of AI agents on deposits
Chief Financial Officer Daryl Bible said Friday that M&T has not yet seen a significant impact on deposit flows from customers using AI agents.
Home equity deal shows VantageScore viable for RMBS ratings
A fintech’s transaction is the first to go through S&P Global’s preliminary rating process with VantageScore 4.0 used to underwrite for 100% of the loans.
Truist’s new CEO begins makeover with consumer business
Truist Financial, led since Sept. 1 by CEO Mike Lyons, is revamping its consumer-banking business by bringing on new leadership and selling a non-core lending platform.
Green-lighting new banks could help female entrepreneurs raise capital
Fintech firms are moving in large numbers to acquire bank charters. This could be very good news for entrepreneurs, especially women and minorities, who are often ignored by more traditional banks.
Basel may encourage more nonbank mortgage lenders to go bank
Proposed changes to the risk weightings assigned to certain assets could encourage more nonbank mortgage firms — particularly those with large servicing portfolios — to seek out bank charters.
Forget the billionaire tax. This California measure could affect 376K taxpayers
While California’s proposed billionaire tax gets the spotlight, Proposition 3 could permanently extend higher income tax rates that are set to expire in 2031.
Fed’s Warsh to look beyond interest rates over next 100 days
Federal Reserve Chair Kevin Warsh said he plans to spend the next 100 days focusing on supervision, regulation, payments and other functions of the central bank.
How 5 of the industry’s biggest firms do RIA custody
Wells Fargo, LPL, RBC, Raymond James and Goldman Sachs are flexing their ability to compete for RIA custody business. But that business also brings them into some unfamiliar, murky terrain for giant wealth management firms.
Schwab blocks unauthorized AI agents, points clients to ‘Charley’
Schwab executives are worried outside AI agents like Meta’s Muse could compromise client data. But some see an effort to protect the firm’s lucrative cash business.
Amid pessimistic economic and policy sentiments, advisors see the potential in their firms
Financial Advisor Confidence Outlook data revealed what advisors think about current issues around the economy, policy and practice management.