PCE inflation remains sticky as Fed weighs next move
The Bureau of Economic Analysis reported that the personal consumption expenditures, or PCE, price index rose 3.7% from a year earlier, indicating that inflation remains above the Federal Reserve’s target.
Indebted Americans need help, not restrictions on settlement services
Legislation that would place new rules on organizations that help consumers reduce their debt burden should not exempt services that have historically favored the priorities of lenders over debtors.
How Google and Apple’s youth plays are pressuring banks
As the big tech firms step up their financial services outreach to the next generation, payment professionals say banks shouldn’t be complacent about cultivating younger customers because they’ll lose them.
Why Edward Jones is finally chasing next-gen investors with a hybrid robo
With its Digital Managed Solutions robo advisory service, Edward Jones is moving into territory already occupied by Fidelity and Vanguard. But it’s building the offering on one of its greatest strengths: its network of branch advisors.
Florida’s wealth boom spurs Orlando bank to start trust unit
Cogent Bank has tapped an industry veteran to lead a new unit focused on ensuring high-net-worth clients can smoothly transfer assets to their heirs.
Why Municipal Credit Union is developing its own chatbot
The New York City-based credit union is planning to roll out the technology as more consumers turn to large language models to help manage their finances and hopes it will eventually provide more insight into its members.
Global Payments hits the road amid small business battle
The company’s Genius World, a miniature town that showcases different merchant types, is part of a plan to get the technology in front of more retailers.
BMO cites ‘good progress’ in push to boost U.S. profits
The Canadian bank, which generates a significant portion of its revenue in the states, is on a path toward higher returns in the U.S., executives said Tuesday.
A wave of calculators goes after advisors hoping to estimate their value
Recruiter Jeff Nash of Bridgemark Strategies created five calculator tools that aim to help financial advisors understand the key contributors to their revenue, expenses and take-home compensation as they weigh their potential next moves.
Postal carriers charged in $24M Houston check theft
The checks were drawn on accounts at JPMorganChase, Citibank, BMO, Stellar Bank and Amegy Bank. The largest single check ran just over $1.5 million.