Beneficial ownership regime’s demise removes tool for banks
The Treasury’s Financial Crimes Enforcement Network’s decision to permanently exempt U.S. businesses from disclosing their true owners eliminates a database banks hoped would help them satisfy their customer due diligence.
Supporting clients with caregiving can yield ‘return on empathy’
As clients ask advisors for help navigating caregiving resources, advisors who are able to provide trusted referrals may find clients return the favor with referrals of their own.
CU vendor TruStage faces 14 suits over monthslong outage
The company, which says it serves 93% of credit unions, expects most key processes to run by mid-August. Its status page still said “Investigating” Wednesday.
BofA strikes $1.9 billion deal for stake in India lender Jio
The move gives Bank of America a stronger foothold in the Indian market by investing in one of the fastest-growing financial firms in the region.
New Jersey is latest frontier in NY bank’s reinvention
Long Island-based Dime Commercial Bancshares, which continues to transform itself from a thrift into a commercial bank, is eyeing additional expansion in the Garden State.
Beyond ROI: How banks can better measure AI impact
This is the first in a three-part series on measuring AI impact. Subsequent pieces will explore related organizational and methodological challenges.
Apple executive in charge of pay and wallet services is leaving
Apple Inc.’s Jennifer Bailey, the longtime head of Pay and Wallet services, is retiring after more than two decades at the company, adding to a sweeping changing of the guard at the iPhone maker.
Goldman Sachs to acquire ETF provider Neos in $2.3 billion deal
The cash-and-equity deal will add a fast-growing ETF issuer to the Wall Street giant’s roster of offerings.
Humid July CPI report puts pressure on Fed to hike
The consumer price index ticked up last month, bolstering arguments about broad based inflation and raising the odds of a rate hike next month.
Here are 3 major misconceptions about the Home Loan banks
The Federal Home Loan Bank System is a vital part of the country’s housing market, but over the years, misunderstandings and misleading statistics have muddied the picture when it comes to assessing their importance.