Bankers swing to negative view on funding costs: Survey
Bankers’ outlook on funding costs has grown decidedly cloudy compared to their expectations from a year ago, according to a new survey from the fintech firm IntraFi.
The calculus of Congress and the cost of cash
No matter which party wins Tuesday’s elections banks will still be in an enviable position, though deposit costs are expected to rise over the next year.
Survey: Firms commit to marketing but aren’t tracking the results
In two reports, the PR firm Gregory finds prominent wealth managers sometimes never show up in AI search results and that few firms are doing enough to track whether all the money they spend on marketing is having the desired effect.
High mortgage rates complicate the case for paying cash for a home
With mortgage rates elevated, the homebuying math has changed for some clients. Advisors weigh the costs of borrowing against other factors such as tax consequences and liquidity needs.
Montana bank employee sentenced to 8 months in prison
A First Interstate Bank employee was sentenced to eight months in prison for falsifying a bank loan to receive $50K; Cross River Bank’s parent company has entered into a memorandum of understanding with SBI Holdings toward a joint venture in Japan; Morgan Stanley’s Andrew Foster has announced his retirement; and more in this week’s banking […]
$6B Binance heist provokes stablecoin freeze dilemma
The norms around freezing stolen crypto are changing and affect any bank supporting digital assets.
Why the FTC and 8 states are suing payments fintech Toast
The suit alleges that the restaurant software fintech failed to deliver on its customer support promises, made it difficult to cancel its services and hit restaurants with hidden and unauthorized fees and unwanted add-ons. Toast has said that it “strongly disagrees” with the allegations and would “vigorously” defend itself.
OCC floats preemption of California climate-disclosure laws
The Office of the Comptroller of the Currency argued in a letter to California environmental regulators that the state’s greenhouse gas emission disclosure requirements may be preempted by federal banking law.
The credit market is strained but growing; crypto’s historic hack
The credit market is showing some strains, though overall it still looks solid; the crypto industry deals with a $6 billion hack at Binance.
Crypto, Epstein are Dems top oversight targets next Congress
With Democrats expected to take majorities in both chambers, investigations into institutions’ relationships with Jeffrey Epstein and President Donald Trump’s crypto ventures are the ripest topics for congressional inquiry.