Firms make billions from ‘cash sweeps.’ Could AI take that away?
Altruist’s release last month of an AI-driven tax manager may have been the event that sent many big brokerage firms’ stocks into a tailspin in recent weeks, but that may be only the beginning. The big business of ‘cash sweeps’ and the AI threat Processing Content Analysts warn there may be an even bigger artificial […]
Jefferies executives respond to Western Alliance suit
Jefferies CEO Rich Handler and President Brian Friedman Address Allegations Jefferies CEO Rich Handler and President Brian Friedman recently responded to accusations made by Western Alliance CEO Ken Vecchione regarding a lawsuit filed by the Phoenix-based bank against Jefferies. The lawsuit, filed on Friday, claimed that Jefferies breached its contract and committed fraud by refusing […]
Oregon on the verge of closing interest rate ‘loophole’
Oregon Moves to Close Interest Rate LoopholeOregon State Capitol, Salem, Oregon. Source: Adobe StockRecent legislative developments in Oregon indicate a significant shift in the state’s financial regulatory landscape. The state’s Senate has passed a bill that aims to close a loophole allowing out-of-state lenders to bypass Oregon’s cap on interest rates. The legislation follows a […]