FINRA seeks to lessen brokers’ oversight of RIAs
The Financial Industry Regulatory Authority (FINRA) is set to implement a new rule that will relieve brokerages of the duty to monitor their advisors’ outside business activities. This rule change will allow advisors to engage in side hustles such as bartending or driving for services like Uber without the need for constant supervision. In addition […]
Fresh off merger, Pinnacle plans to keep hiring bankers
Pinnacle Financial Partners Plans to Keep Hiring Bankers Pinnacle Financial Partners, which completed a transformative merger just three weeks ago, is keeping its foot firmly on the gas pedal when it comes to hiring bankers. Processing Content The Atlanta-based holding company of Pinnacle Bank expects to bring on board between 225 and 250 revenue-producing bankers […]
Oportun CEO Vazquez to step down after investor pressure
The fintech landscape witnessed a significant leadership shift with the announcement of Raul Vazquez’s decision to step down as CEO of Oportun Financial. This move followed a nearly two-year campaign by Findell Capital, an activist investor that owns approximately 9.5% of Oportun and had been critical of the company’s lending practices. The announcement of Vazquez’s […]
Truist settles 15-year-old legal saga, causing earnings hit
Truist Financial Takes a Hit in Q4 Earnings Due to Legal Fees and Severance Costs Truist Financial, a prominent financial institution, has recently made the headlines due to a significant hit in its Q4 earnings. A substantial portion of this financial setback can be attributed to legal-related fees and severance costs that amounted to $130 […]