Practice

According to the latest Federal Deposit Insurance Corporation (FDIC)’s “How America Banks” report, there is an estimated 7.1 million unbanked households in 2019. Given the record levels of unemployment, the pandemic has brought on the FDIC expects this number to rise. Join Joe Adler, American Banker’s Washington Bureau Chief and Leonard Chanin, Deputy to the Chairman of the FDIC as they discuss the FDIC’s stance on financial inclusion and how banks can get millions of unbanked Americans into the traditional banking system.

“Financial wellness is front and center [for employers], so the partnership between Betterment and Lumity made perfect sense,” says Amit Ahluwalia, Lumity’s national employee benefits practice leader.

Beverley Schottenstein steps back into legal combat against her grandsons — two brothers — after a deal to hash out an agreement over their mishandling of her $80 million fell apart.

The technology debuted at the annual INSITE conference reveals how the firm is looking to expand market share among advisors and fintechs.

Merrill Lynch, Ameriprise Financial and Hightower Advisors are on the list for the 2021 Digital Wealth Management Impact Innovation Awards.

The firm’s head of advisors says implementation required significant additions and enhancements.

The China-based company is said to be working with Goldman Sachs to prepare for the share sale, which could take place as soon as this year.

DAFs come with a potential upfront tax deduction, allowing newly empowered investors to consolidate their giving flows, writes Tom Brilli.

The four largest U.S. banks face investor pressure to deliver the returns of smaller rivals, but they complain that the federal deposit cap and capital rules make that difficult. So they're pouring money into wealth management, payments and digital banking to seize more market share in existing businesses and fend off nonbank challengers.

Cardea Capital signs up for the technology just weeks after a rival attacked the fintech’s methodology and levied accusations of racism.