As CDFIs face headwinds, states bolster their support
More states are providing funding to community development financial institutions, which are contending with hostility from the Trump administration and challenges from high interest rates.
Northern Trust begins search for CFO to succeed Fox
Chicago-based Northern Trust has started its search for a new CFO as David Fox plans to retire in March; the American Fintech Council has been appointed as an observer on the Conference of State Bank Supervisors’ newly formed nonbank industry advisory; Wells Fargo has hired JPMorganChase investment banker David Harkin to advise on technology deals, […]
SEC seeks to ease advisors’ custody burdens with discretionary trading
A proposal is meant to ensure advisors can trade client assets on a discretionary basis without triggering onerous custody requirements, while also giving them a self-custody option for crypto.
Exclusive: ICBA sues OCC over trust charters
The Independent Community Bankers of America argue in a new lawsuit that the Office of the Comptroller of the Currency is exceeding its statutory authority in granting trust charters to crypto companies.
Those sleepy deposits that are 90% of your customers are waking up
Apollo’s chief economist may be premature on the idea that AI agents will drive people into higher-rate savings products. But he’s not that premature.
Pulte’s FHFA to ease credit data rule for Fannie, Freddie
The new requirement could be announced by FHFA Director Bill Pulte as soon as Oct. 12, when he is scheduled to speak at a mortgage industry conference in Chicago, according to the person.
Hiring slows down significantly in September
The economy added just 29,000 jobs in September, far below economists expectations, though the unemployment rate remained steady, indicating softening in the labor market.
We could be sleepwalking into a repeat of the 2008 financial crisis
Many of the same signs that might have predicted the financial crisis nearly two decades ago are back, including sweeping deregulation, lax underwriting standards and opaque new financial products. We should proceed with caution.
Even some high earners face financial strain in saving for retirement: Goldman
Thirty-seven percent of those making more than $500,000 live paycheck to paycheck, Goldman Sachs found, making this a problem for more than just lower- income workers.
Fed’s Cook downplays systemic risks posed by private credit
Federal Reserve Gov. Lisa Cook said Thursday that private credit does not seem to pose additional risks to the financial system at the moment, but added that more information about the opaque market is needed.