As divisions linger, Senate punts CLARITY Act to September
Senate Majority Leader John Thune, R-S.D., said the cryptocurrency market structure bill will be considered “first thing” after senators return from recess in September.
Wealth management has got junior advisors’ first 90 days covered. What happens on day 91?
As AI tools take over more of the research, drafting and prep work that once taught new advisors the job, firms are racing to figure out what should replace it.
Exclusive: Warren presses OCC to revoke United Texas Bank charter
In a letter to the Federal Reserve and Office of the Comptroller of the Currency, Sen. Elizabeth Warren, D-Mass., questioned the decision to allow a Texas bank to change charters while under a cease-and-desist order related to money laundering controls.
Hiring shortfall leaves all options open for Fed
The economy lost 23,000 jobs in July, but the unemployment rate ticked down to 4.1% all the same. The development could embolden both hawks and doves at the central bank.
As asset managers chase advisors, Clark Capital says it was there first
Following its purchase by Raymond James, Clark Capital’s CEO discusses his firm’s future and how he aims to help advisors operate as “mini virtual multifamily offices.”
The folly and fallacy of arbitrary return-to-office mandates
Return-to-office mandates in the financial services world are based more on senior executives’ “gut” feelings than on real data. In many cases their main effect is to add stress to the lives of front-line employees.
German payment startup is close to launching US bank
Augustus National Bank, which is working to fulfill the conditions for its de novo OCC charter, was approved for federal deposit insurance by the FDIC.
CRA proposal may strain banks’ relationships with nonprofits
A proposal issued last week by the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. could lead banks to limit grants they give to nonprofits in exchange for Community Reinvestment Act credit.
How better understanding brain science can boost advisors’ business
From showing up authentically to understanding oxytocin, a session at this week’s CAAFP held by The American College of Financial Services called into question some traditional industry approaches to planning.
Epstein probe: When must banks report suspicions to feds?
A report released this week by Sen. Ron Wyden, D-Ore., shines a light on what is required of banks when high-net-worth clients engage in suspicious activity.