Banking

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.

Securing higher education for your child while saving for retirement is no mean feat, as an advisor with firsthand experience juggling the two challenges explains.

Silicon Valley Bank's failure in early March kicked off a period of turmoil unlike anything the U.S. banking industry has been through since 2008 and 2009. Here's a look back at the key events.

The fintech already has a number of large bank partnerships, including Morgan Stanley at Work and Wells Fargo.

Five financial advisors left Lakeland Bank and Raymond James for Affinity Federal Credit Union prior to the $1.3 billion acquisition of their prior institution.

Meow and Vesto are two firms that help companies invest idle funds in safe instruments such as Treasury bills.

Level Four Group recruited a wealth program from its onetime brokerage as it made progress on its goal of doubling in size by 2025.

First Republic Bank was shuttered by regulators early Monday, and all its deposits and most of its assets were acquired by JPMorgan. San Francisco-based First Republic was undone by low-rate mortgages it made to its wealthy customers as well as by the fallout from last month's banking crisis.

A Tik Tok trend is helping some consumers to save more and spend less.

Some of the bank's wealth advisors are pitching a rescue plan involving offloading bonds — at above-market values.

The San Francisco bank, on shaky ground after two regional peers failed last month, said that customers pulled more than 40% of their deposits last quarter. It's been forced to turn to more expensive sources of funding, which analysts said will squeeze its profitability.