Banking

After months of delay, Congress has passed its landmark retirement legislation. Here's what advisors should know about it.

Rohit Chopra, director of the Consumer Financial Protection Bureau, said the bank is "not making rapid progress" and hinted at the possibility of additional restrictions. But analysts saw positives for Wells in the $3.7 billion consent order.

The business being sold to Madison Dearborn Partners provides trustee and administrative services to asset managers and retirement plans.

Forget high-yield savings accounts (if you can find them). Money-market funds are having a moment.

If the program ultimately moves forward, tax professionals should know about the rules when advising their clients.

After several years when the scandal-plagued bank was focused on cost cutting, CEO Charlie Scharf indicated Tuesday that the company has opportunities to expand revenue across every line of business.

The rise of social media "finfluencers" and the tendency of millennials and Gen-Z investors to manage their own money are just two significant trends.

Revelations about the failed cryptocurrency exchange FTX's inroads into the banking system raise important questions about how limited the crypto crash really is.

Royal Bank of Canada's planned acquisition of HSBC Holdings' Canadian unit would expand its lead in the country's heavily concentrated financial market, strengthening its dealings with companies and wealthy individuals, while potentially drawing scrutiny from regulators.

The regulator's demand in confidential talks to settle a series of investigations into mistreatment of customers, described by people with direct knowledge of the matter, reflects its escalating frustration with the bank, which has been punished multiple times by authorities over the past six years for a variety of abuses.

Credit Suisse Group is planning a fresh round of job cuts at the global wealth management business starting next week, adding to dismissals that already started at the investment bank, according to people familiar with the matter.

The regional bank's play for a piece of the wealth management pie, under wraps for more than a year, has a unique twist.

The short-term loans surged in popularity during the pandemic thanks to consumers who were flush with extra cash and limited to shopping online.

Kristin Lemkau, CEO of J.P. Morgan Wealth Management, discussed the launch of the company's Personal Advisors hybrid advisory channel and the challenges of managing and recruiting talent at American Banker's Most Powerful Women in Banking conference.

Rich clients who have seen their portfolios dented are pursuing loans.

Goldman Sachs Group's David Solomon is embarking on his third major reorganization in just four years as chief executive, undoing some of the signature moves he made as recently as 2020.

The financial advisory firm cited recent conversations with the Federal Deposit Insurance Corp., where the current leadership is widely seen as unwelcoming of efforts to open new ILCs.

The troubled bank is still worth more than investors now value it.

When President Biden unveiled his plan for student debt relief, borrowers had many questions about what they needed to do. Now, a month later, there are some answers.

After investment banking fees fell by 54% last quarter, the nation's largest bank by assets is considering cutting back. "Last year, we had to add a lot of bodies just to execute the huge amount of volume we were executing," Chief Operating Officer Daniel Pinto said Tuesday.