Hiring shortfall leaves all options open for Fed
The economy lost 23,000 jobs in July, but the unemployment rate ticked down to 4.1% all the same. The development could embolden both hawks and doves at the central bank.
As asset managers chase advisors, Clark Capital says it was there first
Following its purchase by Raymond James, Clark Capital’s CEO discusses his firm’s future and how he aims to help advisors operate as “mini virtual multifamily offices.”
The folly and fallacy of arbitrary return-to-office mandates
Return-to-office mandates in the financial services world are based more on senior executives’ “gut” feelings than on real data. In many cases their main effect is to add stress to the lives of front-line employees.
German payment startup is close to launching US bank
Augustus National Bank, which is working to fulfill the conditions for its de novo OCC charter, was approved for federal deposit insurance by the FDIC.
CRA proposal may strain banks’ relationships with nonprofits
A proposal issued last week by the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. could lead banks to limit grants they give to nonprofits in exchange for Community Reinvestment Act credit.
How better understanding brain science can boost advisors’ business
From showing up authentically to understanding oxytocin, a session at this week’s CAAFP held by The American College of Financial Services called into question some traditional industry approaches to planning.
Epstein probe: When must banks report suspicions to feds?
A report released this week by Sen. Ron Wyden, D-Ore., shines a light on what is required of banks when high-net-worth clients engage in suspicious activity.
Why the consumer credit outlook for 2H looks cloudier
The latest consumer conditions study from the American Financial Services Association paints a less-than-rosy picture of how lenders expect the second half of the year to play out.
New professional designation aims to build DAF expertise
The American College of Financial Services is launching a certification program to train financial professionals on the ins and outs of donor-advised funds.
Mortgage rates keep rising, nearing last July’s peak
The 3 basis point gain in the 30-year fixed comes as investors are now pricing in the likelihood of a Federal Reserve short-term rate hike in September.