First Citizens takes $83 million hit tied to First Brands
First Citizens BancShares and South State Bank Take a Hit from First Brands Bankruptcy The recent bankruptcy of U.S. auto parts manufacturer, First Brands, has had a significant impact on a number of regional banks. The latest financial institutions to disclose credit losses related to the bankruptcy are First Citizens BancShares and South State Bank. […]
AI startup Brico aims to make licensing ‘joyful,’ gets $13.5M
For any fintech company operating in the United States, obtaining money transmitter and lending licenses in all 50 states can be a daunting and time-consuming task. However, BitGo, a Palo Alto-based digital asset custody and services provider, has found a way to streamline this process using artificial intelligence (AI). BitGo has partnered with fintech startup […]
What financial advisors should know about heirs’ property
Estate planning for heirs’ property could help families preserve and pass down hundreds of billions of dollars in assets, but “tangled titles” are putting that generational wealth at risk. That problem — joint or complex ownership land and housing across dozens or even hundreds of descendants of titleholders who died without a will — requires […]
Wall Street hired 3,000 people last year. Now it’s firing them
The Financial Services Industry in New York: A Look Ahead The financial services industry in New York is bracing itself for potential changes in the near future. Zohran Mamdani’s proposed high-earner taxes could have significant implications for the sector. However, there are a few factors that may provide some comfort to industry professionals. Bonuses on […]
APRA eases path to IRB accreditation
The Australian Prudential Regulation Authority (APRA) has recently outlined several proposals aimed at introducing a new, streamlined pathway towards Internal Ratings-Based (IRB) accreditation. This process is instrumental for calculating the minimum capital requirements for authorized deposit-taking institutions (ADIs). These reforms are a part of a broader series that APRA has initiated, focusing on elevating the […]
Fed researcher makes case for liquidity support for non-banks
Exploring Liquidity Support for Non-Banks: An Insight from Sirio Aramonte In recent financial discourse, an important perspective has emerged advocating for the provision of liquidity backstops for certain sectors of non-bank intermediation. The proposition, put forth by Sirio Aramonte, a principal economist with the Federal Reserve Board, merits serious consideration and discussion. Aramonte’s viewpoint was […]
Redlining is a bigger problem than banks’ representatives admit
Redlining: A Persistent Issue in American Lending PracticesThe ABA’s assessment of the Biden administration’s fair lending enforcement efforts makes questionable claims about a practice that remains a major problem in some U.S. communities. Adobe Stock Redlining, a discriminatory lending practice that disproportionately affects communities of color, continues to be a problem in the U.S., despite […]
Banking Associate – West Roxbury, MA
Discover a Rewarding Career in Personal & Commercial Banking in West Roxbury, Massachusetts For those seeking a fulfilling job in the banking sector, a remarkable opportunity awaits in West Roxbury, Massachusetts, United States of America. TD, a leading global financial institution, is seeking a dedicated and customer-oriented Banking Associate. A role that not only offers […]
Charitable giving strategies for the 2025 tax year
This year my family transitioned from homeownership to renting This year, my family made a significant decision to move from our Boston condominium to renting a single-family home in a nearby suburb. The high housing costs and mortgage rates led us to choose renting over buying another home. This transition had a direct impact on […]
5 hot topics BofA CEO Brian Moynihan is watching
Bank of America CEO Brian Moynihan on Cybersecurity Resilience Bank of America CEO Brian Moynihan emphasized the critical importance of cybersecurity resilience in today’s digital landscape. “It only takes one of these instances to get out in the paper,” he noted, highlighting the potential risks that organizations face in the cyber world. Moynihan stressed the […]