How Wells Fargo keeps advisors by letting them go independent
As large wealth managers struggle to retain advisors seeking greater independence, Wells Fargo has taken a distinct approach with its FiNet channel. But is the loss of profit margin worth the retention gains?
SEC’s novel ETF review draws early pushback over prediction markets
On June 30, the SEC asked for public comments on the regulator’s proposed amendments to novel ETFs. About a week in, responses tilt to a hard “no thank you.”
Logan: Fed’s open market activities should be centrally cleared
Federal Reserve Bank of Dallas President Lorie Logan said at an event Thursday that conducting monetary policy actions through a third party would improve efficiency and make markets stronger.
Security Home Mortgage, CCBank to rebrand as Accordia
The move is designed to align the two Utah-based businesses under a single unique name and comes two years after the bank acquired the home lender in 2024.
PayPal boosts its stablecoin as banks prepare to launch a shared one
The payment company’s PYUSD has launched on Polygon’s international digital asset rail as big financial institutions give potential heft to Open Standard’s pending OpenUSD.
Fed announces membership of monetary policy task forces
Federal Reserve Chair Kevin Warsh’s five policy review groups will be composed of a broad mix of business leaders, academics and former central bankers, including venture capitalist Marc Andreesen and former Fed Gov. Jeremy Stein.
Why Standard Chartered, BNY launched stablecoin rails
The banks now let institutional clients mint and redeem Circle’s USDC directly, turning them into stablecoin infrastructure providers.
LPL surges in JD Power advisor satisfaction rankings ahead of Commonwealth onboarding
JD Power’s closely watched survey of financial advisors’ satisfaction with employee and independent brokerages crowned its perennial winners, with one interesting exception.
Sean Scott on how U.S. Bank won the Innovation of the Year award
Sean Scott of U.S. Bank discusses what his team did to win their Innovation of the Year award for their collaboration with Edward Jones, in conversation with American Banker’s Chana Schoenberger.
Swift recruits big banks to test its new blockchain ledger
Seventeen banks, including BNY, Citi, HSBC, Standard Chartered, and Wells Fargo, will make tokenized cross-border payments as the messaging network looks to counter threats from digital asset fintechs.