NASAA's proposal would align state laws with the SEC's marketing rule, eliminating concerns advisors have about running afoul of more local laws as they accept testimonials and reviews.

Stephan Feldgoise and Joshua Schiffrin will join Goldman Sachs' management committee; Fidelity Investments is dismissing about 800 personnel as it restructures its technology and product-delivery teams; Citi has hired JPMorgan's André Ross as its country officer and banking head for South Africa; and more in this week's banking news roundup.

Wealth head Andy Sieg sees bank-based advisors as key to securing more of the $3 trillion its U.S. banking customers hold elsewhere. But he's also looking to AI.

Employers hired an additional 115,000 workers in April, while unemployment remained unchanged at 4.3%. Despite the positive headline figure, a spike in newly unemployed workers and a rising number of underemployed workers suggests instability under the surface.

Freddie Mac was more aggressive than its counterpart for much of the past year but March activity establishes that there's a different trend at play in 2026.

A rule change requiring trial modifications before other loss-mitigation options is creating workflow and liquidity challenges, especially for smaller servicers without deep resources.

Calls to replace proposed deposit insurance reforms with a revived Transaction Account Guarantee program would make the federal government's role in a bank run purely reactive. That would be a mistake.

Kevin Warsh is a younger version of Jay Powell but with a convincing economist "eminence front." What Warsh does not have, as was the case with Powell, is an economics Ph.D., and that, as the post-pandemic inflation surge has shown us, is critical.

The cost of deposits has fallen but the trend may get short-circuited by a Fed that can't cut rates amid the inflationary pressures of the war in Iran.