Green-lighting new banks could help female entrepreneurs raise capital
Fintech firms are moving in large numbers to acquire bank charters. This could be very good news for entrepreneurs, especially women and minorities, who are often ignored by more traditional banks.
Basel may encourage more nonbank mortgage lenders to go bank
Proposed changes to the risk weightings assigned to certain assets could encourage more nonbank mortgage firms — particularly those with large servicing portfolios — to seek out bank charters.
Forget the billionaire tax. This California measure could affect 376K taxpayers
While California’s proposed billionaire tax gets the spotlight, Proposition 3 could permanently extend higher income tax rates that are set to expire in 2031.
Fed’s Warsh to look beyond interest rates over next 100 days
Federal Reserve Chair Kevin Warsh said he plans to spend the next 100 days focusing on supervision, regulation, payments and other functions of the central bank.
How 5 of the industry’s biggest firms do RIA custody
Wells Fargo, LPL, RBC, Raymond James and Goldman Sachs are flexing their ability to compete for RIA custody business. But that business also brings them into some unfamiliar, murky terrain for giant wealth management firms.
Schwab blocks unauthorized AI agents, points clients to ‘Charley’
Schwab executives are worried outside AI agents like Meta’s Muse could compromise client data. But some see an effort to protect the firm’s lucrative cash business.
Amid pessimistic economic and policy sentiments, advisors see the potential in their firms
Financial Advisor Confidence Outlook data revealed what advisors think about current issues around the economy, policy and practice management.
Why some banks are exploring ‘bring your own AI agent’
Bank of America, BBVA, Synchrony and Wells Fargo have joined the Personal Agent Protocol, a framework that allows companies to set parameters for what external AI agents can do.
With rates sky-high, mortgages drag down banks’ earnings
High mortgage rates aren’t just a problem for homebuyers. As the loans grew more expensive, many banks reported that mortgages were a drag on their third-quarter financial performance.
Citizens’ payment exec on how banks can coexist with fintechs
Digital-focused companies like Square, Stripe, PayPal, Brex and Ramp have made luring merchants from banks a big piece of their strategies. Matt Valente, the bank’s new treasury and wholesale payments SVP, spoke with American Banker about where he sees space for banks.