Planned FDIC standards for tech vendors may help small banks
The banking regulator is in early discussions with trade groups to build an organization for certifying tech providers that pass voluntary due diligence checks.
Credit unions win round against Snowflake in data breach case
Santander’s employee data was breached. Credit unions that were never breached are suing over the cards they had to reissue.
2 AI platforms tackle the headaches of client, advisor moves
Dispatch and NetLaw target two different kinds of relocation friction. One for advisors switching firms, one for clients crossing state lines.
Despite private market concerns, advisors and clients are undeterred
A survey from the investment marketplace iCapital suggests that concerns about private credit have not derailed advisors’ growing desires to place more clients in alternative investments.
An impact investor’s case against ‘zero-sum thinking’
Roy Swan of the Ford Foundation said the simplest implication of his new book may be a nudge toward donor-advised funds. But he argues for a deeper examination of popular assumptions around figures like Adam Smith and Milton Friedman.
States sue OCC over mortgage escrow interest pre-emption
A 10-state coalition is asking a federal court to put a halt to the OCC’s rules which pre-empt laws on banks paying interest on mortgage escrow deposits.
Bank of America, JPMorgan Chase join new Swift framework
The two banks are among the early bank adopters of a Swift standard that’s designed to support near instant payments and serve as an alternative to stablecoins.
Regions takes new steps to refresh executive leadership team
Kate Danella, head of consumer banking since 2022, will become Region Financial’s chief administrative officer, as David Keenan plans to retire. John Jordan will take over leadership of consumer banking.
Second CFPB union member placed on administrative leave
Stephen Wheeler, a prominent Consumer Financial Protection Bureau union organizer, was placed on administrative leave as the agency investigates allegations it has not publicly disclosed.
Fed analysis shows return to stock-bond correlation of 1990s
After nearly two decades of positive correlation, the relationship between equities prices and bond yields has turned negative, the analysis finds, revealing a tricky dynamic for monetary policy.