Markets eye Fed hold after retail sales, consumer confidence fall
Retail sales fell 0.6% in July despite a World Cup bump and the University of Michigan’s consumer sentiment index declined to cap off a pivotal week of economic indicators.
CFPB’s open-banking plan likely to ignite new legal battle
Experts predict that either banks or fintechs will sue the Consumer Financial Protection Bureau, depending on the details of the fee structure in its forthcoming open-banking rule.
CFPB will no longer publish consumer complaint narratives
The Consumer Financial Protection Bureau said it will stop publishing consumer complaint narratives, citing concern that the information is one-sided.
Want ChatGPT to find your RIA? You may be overlooking your best tool
Web designer Bonfire Studio asked ChatGPT for advisor recommendations in five metro markets. The results give advisors more reason to tend to their online presence.
Women are inheriting trillions. How advisors can win their business
Women are projected to receive more than $100 trillion in the so-called great wealth transfer. But their planning needs can differ from men’s.
The Home Loan banks may be facing stormy weather in 2027
In a contentious hearing in the House Financial Services Committee, congressional Democrats evinced serious skepticism about the Federal Home Loan Bank System. That could bode ill for the Home Loan banks should control of the House flip in November.
Do AI agents create disintermediation risk for banks?
As AI agents promise a future where payments self-execute and investment portfolios rebalance without human intervention, some fear that retail banking is the next logical evolution for agent-led automation. Financial institutions may not be doing enough to stop it.
What small banks want from their vendors in the age of AI
As community banks lean on third-party vendors to keep up with AI developments, executives say regulatory standards must be put in place to account for the increased risk they face.
Advisors can uncover hidden retirement costs — and prevent years of cash drag
Retirement savers often don’t realize what they’re paying in fees or how much they can lose by leaving rollover cash uninvested, but advisors can help on both fronts.
New York puts bank boards on the hook for vendor tech
Many banks can’t say what software their IT provider runs. Only 58% of community and midsize banks even hold the right to audit that vendor, a survey found.