Finance

With an interest rate hike from the Federal Reserve now widely expected to take place next month, some of the air has been firmly kicked out of yield plays' tires.

Federal Reserve officials stressed that policy should be tightened only gradually after interest rates are increased for the first time since 2006, with New York Fed President William C. Dudley saying the conditions for liftoff "could soon be satisfied."

The defendants laundered their “vast criminal proceeds” through at least 75 shell companies, according to the indictment.

Pimco fired back at Bill Gross, the co-founder who oversaw the firm’s ascent for 43 years, saying his lawsuit over his departure looks more like a screenplay than a legal filing and should be thrown out.

In a blow for RCS Capital, AR Capital and Apollo Global Management terminate a deal to buy the bulk of real estate investor Nicholas Schorsch’s holdings.

Federal Reserve Chair Janet Yellen and New York Fed President William Dudley both said the central bank could boost interest rates as soon as next month, while Fed Vice Chairman Stanley Fischer voiced confidence that inflation isn’t too far below the central bank’s goal.

Although millennials are less trusting of financial advisors than older investors, there are still ways for wealth management firms to court younger clients.

U.S. Senator Elizabeth Warren wants to restrict brokers from winning vacations, luxury cars and golf outings at the expense of retirees.

The Social Security Administration confirmed Thursday there will not be a cost of living increase for 2016 due to declines in consumer prices.

Deutsche Bank plans to sell its U.S. private-client brokerage unit, according to people briefed on the matter.

Swift CEO Gottfried Leibbrandt talks about how the global messaging network is looking to stay relevant to its bank members; the potential and limitations of blockchain technology; and his views on the startups looking to disrupt banking.

Compared with other recent breaches, the theft of 6,400 user email addresses and passwords on the American Bankers Association's website might seem like small potatoes. But experts said the attack — the first in the association's history — was still significant and could have implications for banks.

The only way to evaluate the appropriateness of Dodd-Frank's costs is to monitor the economic benefits that it creates. That's why the government needs to find a quantifiable way to measure the efficiency of its regulations.

The activist views LPL Financial as undervalued and may seek talks with management and the board on strategic and operational changes.

Activity at credit unions has been on the rise since the Bank Transfer Day movement in November 2011. It remains to be seen, however, if credit unions can succeed at keeping many of those relationships.

The third quarter ends in two weeks, and top executives at Citigroup, Wells Fargo, and two regional banks are raising concerns about cost pressures, impediments to revenue growth and heightened lending risks.

While economists at Goldman may not expect the Fed to raise rates until December, the bank's equity strategists are preparing clients for the first hike in nearly a decade.

After years of enduring meager returns on low-risk investments, retirees can look forward to more money in their pockets after the Fed starts raising interest rates, though the benefits won’t flow swiftly. The Fed, which has drawn political ire for policies that critics say penalized savers, says it expects to only raise rates gradually.

Opinions are split on whether the Fed will raise rates this week. Just over half of the analysts surveyed by Bloomberg predict no change, while about 48% predict some level of increase.

The Department of Labor is trying to get its fiduciary proposal passed before President Obama’s term is over—some question whether it can happen that quickly.