Bank channel

Low interest rates on CDs mean traditional fixed-term assets are in motion.

While Union Bank of California is having a good year in terms of brokerage revenues, it isn’t having much luck holding onto sales managers, according to sources.

The initiative by the Toronto-based company is designed to create a fourth business line as part of its strategy to develop a strong fee-based business for managing assets.

The creator of the highest daily value rider saw bank sales shoot up by 144% year-over-year in the second quarter.

Though Democrats scored a big political victory in passing regulatory reform, many are already paying for it as the financial services industry directs more of its contributions toward Republicans and moderates who tried to pare back the revamp.

Things look up for the bank channel after a challenging few years.

At a hearing on "too big to fail" institutions, commissioners questioned if the new systemic risk council would have the political will to break up risky firms and raised concerns about "living wills."

Fixed annuities, which experienced a sales boom last year in banks, stem the bleeding, while variable annuities finally start trending upward, Kehrer-Limra says.

Roughly two years after its near collapse, critical questions about the fall of Wachovia remain unanswered

Members of the Financial Crisis Inquiry Commission sought to overturn the conventional wisdom that Wells Fargo's purchase of Wachovia was done without government assistance.

Community banks reported investment program income of $110.1 million for the first quarter, up from 4.6% in '09's fourth quarter and a 12.6% jump from the first quarter of '09.

The FDIC chairman said the agency would soon publish an interim rule on its new resolution authority over systemically important banking companies and certain nonbanks.

Banks and thrifts had their best performance in almost three years during the second quarter, earning $21.6 billion, a 16% jump from a quarter earlier, the Federal Deposit Insurance Corp. said Tuesday.

A New York Federal District Court has “substantially denied” Bank of America Merrill Lynch’s motions to dismiss a September 2009 case filed by Ohio Attorney General Richard Cordray on behalf of five pension funds.

PNC is betting that its Virtual Wallet account, which has always focused on teaching consumers to be better savers, can also teach them to be better spenders.

As the Fed and OCC take over supervision of thrifts and their holding companies, savings and loans have grown increasingly scared about a possible crackdown on their business.

Eight months after calling off a deal to buy Royal Asian Bank, Edward Shin, the bank's CEO, is back with a new deal, crediting perseverance and a grassroots approach.

While it's clear that tighter rules for securitization are on their way, varying approaches to the issue by different agencies are making bankers and issuers uneasy.

Premiums in life insurance of all stripes was up across the board in the second quarter, but term life couldn’t keep pace with last year’s record run.

While some advisors complain a fiduciary standard would be an unnecessary compliance expense, others say being able to raise client expectations is a plus.