A $1.3B RIA finds a middle path to succession
A succession merger deal that was nearly 10 years in the making at Nebraska-based Prairie Wealth Advisors offers a lens into the many factors involved with the wealth management industry’s looming financial advisor retirements.
The Clarity Act’s long stay in legislative limbo needs to end
The future of on-chain finance in the U.S. is dependent on there being statutory certainty about the rules of the road. The Clarity Act may not be perfect, but passing it is essential to maintaining U.S. leadership in the field.
Inside Bank of America’s $250 billion in data center funding
It’s not just about AI and the bank is not walking away from its green goals, Karen Fang, the initiative’s leader, told American Banker.
For Kalshi, an ’emergency’ is a state AG suing it
The CFTC said it was using ’emergency’ powers to keep the lights on at Kalshi after the New York Attorney General sued the sports-betting company.
Big banks left mortgages. Why some community banks stayed
United Bank and Five Points Bank, both ranked among the top-performing banks by Capital Performance Group, said they have stayed in the mortgage business because they see it as a way to build strong relationships in the communities they serve.
Banks’ interest in tokenized deposits grew in second quarter
American Banker’s digital asset index found growth in digital assets is outpacing stablecoins.
Are Altruist’s technology and low fees enough to tame the giants?
Altruist has earned legions of fans among financial advisors for sleek technology and low, clear fees. But its critics question whether that is enough to catch up to the giants that have dominated the business for decades.
Western Union’s LatAm strategy faces fintech pressure
Amid threats from immigration policy and emerging fintechs, International Money Express, a global remittance company and $500 million acquisition target for Western Union, reported a 18% year-over-year decline in revenue in the second quarter with analysts questioning whether the purchase holds the same value as it did a year ago when the deal was first […]
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.