Latest leadership shuffle shows Wells Fargo is in new phase
Scott Powell, who was hired by CEO Charlie Scharf to help fix the bank’s regulatory problems, is moving into the chief risk officer role.
AGs warn Congress that AI threatens the financial system
Federal banking agencies spent the year putting agentic AI outside their guidance. The attorneys general want Congress to move the opposite way.
BofA, seeking to extend careers, will train more apprentices
Even as it also spends big on AI, Bank of America is sending a clear signal that human workers will still play an important role in tomorrow’s workforce.
How more BNPL usage is increasing risk for banks
Sixteen percent of consumers took out a buy now/pay later loan in 2025, according to the Federal Reserve, as more low-income consumers turn to the short-term installment loans for everyday expenses such as groceries. That’s creating a blind spot for banks that underwrite consumer credit.
Why AI models favor fintechs over traditional banks
In conversations about small business banking, ChatGPT, Gemini and Perplexity recommended Mercury far more often than licensed financial institutions.
Why advisors are rethinking entity structures for clients — and maybe themselves
Recent tax law changes are prompting businesses to rethink entity structures. Here’s what financial advisors need to know when guiding clients or making decisions about their own RIAs.
Building RIA internship programs that become top talent pipelines
The days of a few firms hiring a summer intern with vague plans for them to perform menial tasks around the office may be finally coming to an end. Here’s how experts say RIAs can create successful internship programs.
Fed bars teller who stole $246K from banking
The Federal Reserve Thursday issued an enforcement action barring Renee Nicole Brown from the banking industry after she pleaded guilty to embezzling roughly $246,000 from teller cash dispensers over the course of a year.
ARM demand rises as buyers pivot from high fixed rates
Freddie’s 30-year hit 7.03%, first above 7% since Jan. 2025, as 10-year yield tops 5.1%. ARM share jumped to 9.8%; lenders should pitch ARMs to keep payment-sensitive buyers.
Democrats reintroduce bill to curb private equity
Senate Democrats, led by Senate Banking Committee ranking member Elizabeth Warren, D-Mass., reintroduced a bill meant to solidify the debt liability between private equity firms and their portfolio companies, among other changes.