Advisors would have another tool to help fraud victims under House-passed bill
A bipartisan bill awaiting a Senate vote aims to reduce tax burdens for financial fraud victims by restoring an expanded personal casualty loss deduction.
State bank examiners get a playbook for inspecting AI
State agencies supervise about 79% of U.S. banks. Their umbrella group just published the questions, documents and risk tiers examiners may use.
Huntington tempers outlook due to higher rates, lower yields
The Columbus, Ohio-based bank reevaluated its earnings guidance amid tough competition that hampered its production of commercial real estate and indirect auto loans.
Circle publicly releases Arc blockchain to institutions
The stablecoin issuer is the latest digital asset company to release its blockchain network to the public for financial institutions to use.
Borrowing from Federal Home Loan banks jumped 20% in 2Q
Commercial banks have increasingly tapped the Federal Home Loan Bank System for liquidity as rising Treasury yields have made the market for deposits more competitive.
5 ways wealth managers can reduce the tax burden of investments
Taxes can erode portfolio value in ways that add up over time. Explore five active investment strategies that can reduce capital gains tax impacts for clients.
Even without Clarity, crypto is the least of the challenges banks face
The Clarity Act’s failure is a relief for banks that didn’t want even more competition. But the crypto industry wasn’t a major headwind for banks anyway.
Community banks need supervisors’ help in assessing climate risk
Small banks are uniquely vulnerable to local climate disasters, from floods to wildfires to tornadoes. Supervisors should be playing a more active role in helping them identify, measure and manage their risk.
Chris Britt still says banking is broken, but Chime can fix it
Over the last 14 years, Chime has risen from fledgling fintech to a poster-child for what successful bank-fintech partnerships can look like. Now, as the neobank stands on the precipice of owning its own bank, it faces new challenges as it gears up to go toe-to-toe with some of the country’s largest banks.
Fannie servicers can contact consumers about MI cancellations
Bill Pulte, FHFA director, has ordered Fannie Mae to update its servicer guide to mirror Freddie Mac policy regarding notifying borrowers about dropping MI.