Practice

Says Banks Will 'Skim the Cream’

A little-noticed provision tucked into regulatory reform legislation by the Treasury Department is causing a furor among large institutions, which say it would effectively ban all derivative transactions between banks and their affiliates.

America has yet to witness the tremendous societal transformation retiring Boomers will have, as the oldest is a mere 64 and the youngest, 46. But we are beginning to see signs of the tsunami-sized impact this army of 77 million will have on the workplace, the economy, healthcare and even the arts and entertainment.

Do you know what your clients want? If not, there’s a good reason: The affluent mind has changed.

Amid encouraging news, two “lost years” weigh heavily on participants near retirement.

America has yet to witness the tremendous societal transformation retiring Boomers will have, as the oldest is a mere 64 and the youngest, 46. But we are beginning to see signs of the tsunami-sized impact this 77 million-strong army will have on the workplace, the economy, healthcare and even the arts and entertainment.

As the Senate Banking Committee considers reform of the nation’s financial regulatory system, the American Insurance Association is seeking to amplify the distinctions between insurers and other financial services firms.

The Independent Community Bankers of America sent a letter Thursday to top Senate Banking Committee leaders raising concerns about rumored plans to name the Treasury Secretary as head of a proposed systemic risk council.

Just over a year after the height of the financial crisis, Citigroup Inc. is a fundamentally different company than it was when it needed billions to stave off a collapse.

UBS will have to purchase up to $200 million in auction rate securities from investors who were not covered in UBS’ initial agreement with state and federal regulators.