NASAA asks states to eliminate conflicts with SEC’s new marketing rule
NASAA’s proposal would align state laws with the SEC’s marketing rule, eliminating concerns advisors have about running afoul of more local laws as they accept testimonials and reviews.
Rising energy costs may squeeze families, but not the economy
Market watchers say that the economy as a whole is holding up under higher energy prices and do not expect a recession. Even so, observers are watching financial markets and consumer spending for signs that inflation expectations are taking hold.
IMF calls Mythos a systemic risk
Three senior officials say attackers will eventually breach bank defenses, and supervisors should plan for it — while U.S. regulators stay nearly silent.
Banks mobilize against crypto market structure bill markup
Banks continue to push back on what they describe as insufficient protections against stablecoin yield as the Senate Banking Committee is poised to mark up its long-awaited crypto market structure bill this week.
The cost of deposits and the next Fed chair
The cost of deposits has fallen but the trend may get short-circuited by a Fed that can’t cut rates amid the inflationary pressures of the war in Iran.
As payment partnerships proliferate, here’s how bank risks are changing
With regulatory scrutiny on the rise, banks are putting payment collaborations under the microscope.
Another noneconomist Fed chair isn’t what the country needs right now
Kevin Warsh is a younger version of Jay Powell but with a convincing economist “eminence front.” What Warsh does not have, as was the case with Powell, is an economics Ph.D., and that, as the post-pandemic inflation surge has shown us, is critical.
Fed rate pause may rekindle bank deposit competition
Banks’ deposit costs fell as the Fed made borrowing cheaper. But signs of increased competition are already emerging, and analysts see a tougher road ahead.
Fed flags overheated markets as top stability risk
The Federal Reserve’s April financial stability report found that asset valuations remain elevated, even as investors are beginning to demand more compensation for risk amid rising uncertainty around monetary policy.
Appeals judge sends Illinois interchange case back to district court
Banking groups that sued the state of Illinois over its law barring banks from charging interchange fees on taxes and tips cheered an appeals court ruling remanding the law to a lower court and vowed to keep the law going into effect, which is slated for July 1.