Banking

The New York megabank is considering splitting its institutional clients group division into three parts following the upcoming departure of top executive Paco Ybarra, the Financial Times reported. The heads of the three segments would report directly to CEO Jane Fraser.

After an aborted attempt to set up its own bank, Edward Jones is joining forces with Citi to provide savings and checking accounts for clients.

During the recent banking crisis, both businesses and wealth management clients moved their money out of banks. Commercial deposits have since recovered, but those in wealth accounts continue to decline amid fierce competition from both inside and outside the banking system.

The Wilmington, Delaware, bank announced this week that it had purchased Bell Rock Capital. WSFS' management says that legal troubles involving that investment advisory firm's founder won't affect the transaction.

After a quarter in which the institution helped the firm reap a record profit margin, the company followed rival Edward Jones in withdrawing its application.

A New York woman says she can move out of her parents' place or pay off her loans — but not both. Is there a way out?

Anna N'Jie-Konte discusses how advisors can grow their business by offering customized services to student loan borrowers and their families.

Decisions about which type of repayment plan to use and whether to file jointly or separately carry important implications for borrowers, experts said.

To pay for their kids' education, many Americans are postponing their golden years — or cracking open their 401(k)s.

Americans with student loans still have options. Here's what they should know.

The technology that powers ChatGPT can sift through and even synthesize massive amounts of data, though it must overcome doubts over reliability, transparency and regulatory risk before it can be harnessed to conduct useful research.

Rising interest rates on loans, greater borrowing and higher fees on deposit accounts all contributed to the increase. "Altogether, this paints a picture of debt that could really start to strain the checkbooks of American families," said Meghan Greene, a researcher at the nonprofit organization that authored the report.

After three years of student loan forbearance, the passing of the debt ceiling bill guaranteed the expiration of the freeze this fall.

As a result of the deleted records, the regulator said that JPMorgan could not come up with requested documents in eight SEC investigations and four other regulatory probes.

High debt, paired with persistent income inequality, has left LGBTQ employees unprepared for retirement.

The legislation, initiated by congressional Republicans, would have thwarted the president's executive action to cancel billions in student debt.

While former SVB and First Republic advisors are getting more attention, the private equity-backed firm added its largest recruit in 2023 from another shuttered bank.

Clients were offered a MasterCard made from 14-karat or 18-karat gold that could be embedded with as many as 164 precious stones.

Ever since Silicon Valley and Signature banks collapsed in March, a scramble began among regulators, politicians, bank executives and others to manage the fallout from this spring's banking crisis. Here are 10 predictions of what still lies ahead to be dealt with.

The No. 1 independent brokerage has boosted the number of brokers it recruits to financial institutions each quarter, its top recruiter in the channel tells FP.