How a $10M check-fraud ring in Bronx exploited the homeless
Prosecutors say a Bronx crew recruited homeless people and walked them into branches to open accounts. The controls it beat were mostly human ones, standing at a branch counter.
Prosperity blames loan-growth woes on newcomers’ pricing
Banks that are new to the Texas market are pricing loans very aggressively, according to senior leaders at Houston-based Prosperity Bancshares.
How advisors can act as hubs for clients’ lawyers, accountants
By coordinating with a client’s other financial professionals, such as lawyers and accountants, financial advisors have the potential to deliver even more value.
The safety of the status quo is a risk. Here’s how to guide clients past it
Summer meetings might pose a scheduling challenge, but financial advisors could help clients avoid costly mistakes by guiding them away from the common bias in a midyear meeting.
Warsh welcomes yield spikes as ‘change for the better’
Federal Reserve Chair Kevin Warsh acknowledged that his limited guidance might have been a factor in rising market rates, but said whatever increased volatility can be attributed to the changes is more than offset by the benefit of a more nimble central bank.
SoFi’s revenue soars, but increased expenses hinder earnings
The lender reported a 40% increase in net revenue, but operating expenses and an uncertain interest rate environment held it back from increasing outlooks.
Banc of California takes big 2Q loss due to restructuring
The Los Angeles-based regional lender reported a quarterly net loss of $251.3 million, driven by a balance-sheet restructuring that included the sale of securities and certain commercial real estate loans.
How bank-based advisors can jump firms without getting sued
Industry lawyers and recruiters share the key steps bank-based advisors can take to avoid litigation or lower legal exposure when moving clients to a new firm.
Agentic commerce has a payment tech opening for banks
As consumers get more comfortable with the technology, they will want multiple checkout options beyond cards, creating a need for more digital wallets and account-to-account rails.
How Circle’s IBM patent deal shakes up stablecoins
The technology giant’s patents, which were built for banks and credit unions, will enhance the USDC issuer’s intellectual property as more banks enter the stablecoin market.