Overheated data center knocked 23 credit unions offline
Nine months before the outage, the NCUA told a federal council it may no longer need the authority to examine vendors like the one that failed.
One year after formation, Beacon Financial names new CEO
The Boston-based bank, created last year through a merger of equals, appointed Sean Gray as its next CEO. Gray’s predecessor informed the company last week of his plans to retire.
Inside Mastercard’s push to bring digital wallets together
The card network’s Wallet Pay is designed to make apps interoperable and available on its merchant network. It’s the latest of several moves from Mastercard and Visa that aim to attract banks and merchants into the digital wallet market.
Claude has entered the chat. Will tens of thousands of RIAs reply?
Anthropic lined up some of the biggest names in the industry for the rollout of Claude for Financial Advisors. But whether the tool is “revolutionary” or “just another integration,” the hard work is just beginning for the AI firm and for its sole custody partner, Schwab Advisor Services.
The estate-tax trap that lurks below the federal exemption
State-level estate taxes can be imposed at much lower thresholds. From domiciles to the timing of moves, here’s what financial advisors should keep in mind.
As fintechs nab bank charters, what’s happening to BaaS?
The banking-as-a-service business model has for more than a decade counted fintechs as its bread-and-butter clients, but as those same fintechs secure their own banking charters, some sponsor banks are narrowing their focus.
BofA: Add GSE scores to models to predict delinquencies
The release of Fannie Mae and Freddie Mac’s internal metrics support this process, but other measures will still be needed, according to Bank of America.
Takeaways for banks from Walmart’s about-face on Apple and Google wallets
Payment experts say that in the wake of Walmart supporting more digital wallets, many banks are missing the boat with mobile wallets by not aiming to stay top-of-wallet and by ignoring operational issues.
Fincen moves to rewrite banks’ due diligence requirements
A forthcoming rule from Treasury’s Financial Crimes Enforcement Network will spell out banks’ obligations to identify the true identities and beneficial ownership of its clients, even as the administration eliminated most U.S. beneficial ownership reporting.
Behind the curtain, the US economy looks shakier than many realize
Looking past the headline numbers, there are reasons to be concerned about the condition of the U.S. economy. Particularly troubling is the fact that large numbers of Americans live financially precarious lives.