Why a $1.5B wirehouse team considered independence but jumped to Merrill
Although many advisors choose to leave Wall Street mainstays in favor of firms offering greater independence, some find they’re still most at home at another wirehouse. Just ask Todd Hatfield.
The oversight gap: banks must ramp up internal protections in a deregulatory climate
Expanding fintech charters and workforce shrinking across the Fed, OCC, and FDIC require financial services leaders to assume the role of technical auditor to protect against systemic contagion.
Bankers are asking the wrong questions about artificial intelligence
The biggest barrier to effective adoption of AI within banks is not the capability of the AI systems themselves, but the failure to recognize that the technology is only as good as the underlying systems it helps automate.
What good is a high yield on an empty account?
Whether or not the CLARITY Act becomes law, cryptos have a problem protecting assets, and that problem is not going away.
What we know about the CFPB’s forthcoming open-banking rule
The Trump administration is currently reviewing a soon-to-be-released proposal on consumer financial data rights.
Who loses when Upstart becomes its own lender?
The online lender said its national bank will become the “primary originator,” displacing the banks that are lenders of record. Loan buyers keep their role.
WTW, SEI partner on private market offerings
WTW Investments and SEI see enough of a market to develop private market offerings for U.S. defined contribution plans, such as 401(k) plans.
Circle officially opens its national trust bank
Having a trust bank will allow the stablecoin company to offer custody products and to have flexibility in where and how it issues its stablecoins.
Fed’s Cook ready to hike rates ‘if necessary’
The Federal Reserve governor said inflation is too high but said she ultimately voted last week to hold interest rates steady to give recent economic trends more time to play out.
Global Payments bets on AI to boost point-of-sale reboot
It has been one year since the payments fintech launched Genius, its refreshed point-of-sale and payments platform, as a lynchpin in the company’s attempted turnaround. Now, the company is looking to add more conversational AI features.