The staunchest opposition to a universal fiduciary standard that would put clients' interests first isn't from securities brokers, it's from insurance agents.

Despite low rates, bank sales of annuities held steady in June, at $2.8 billion, the Kehrer-Limra consulting firm says.

Scout Investment Advisors, a Kansas City, Mo., unit of UMB Financial Corp., announced Thursday that it had signed a definitive agreement to buy Reams Asset Management Co. of Columbus, Ind. The deal would more than double its assets under management.

The tax law is expected to eliminate 300,000 affordable housing units over 10 years in part because it will reduce the value of banks’ low-income tax credits, which finance half of all affordable housing units.

PHH Corp. agreed to a $45 million settlement to resolve allegations from 49 states and the District of Columbia that it engaged in "foreclosure process abuses" involving "inconsistent signatures" in its servicing business from 2009 to 2012. The settlement comes as the nonbank mortgage company continues its legal challenge to a separate regulatory action by the CFPB.

Rep. Emanuel Cleaver, D-Mo., has emerged as one of the most outspoken members of Congress when it comes to fintech, both embracing its potential and calling for regulatory guardrails.

Many consumers started using digital payments out of necessity once the pandemic struck. They may continue as it recedes because they like the convenience.

During the crises, most of the investment is going toward mature fintechs, creating more challenges for startups, says Global Processing Services' Richard Hodgson.

As risk rises and budgets tighten post-pandemic, training all employees about security risks and conducting quarterly penetration tests helps to offset threats and potential losses.