What the Securities and Exchange Commission wants from a new and universal fiduciary standard for the retail investment community, and what will most likely materialize, figure to be two different stories.

For large investment houses and independent financial advisers, this new crop of potential clients — and the commissions they generate — is as elusive as it is exclusive.

Commonwealth Financial Network, which boasts one of the largest fleets of high-end independent advisers, is instituting new rewards for enriching the firm.

Reps. Lacy Clay and Emanuel Cleaver, both from Missouri, have shown interest in running the panel that could be a focal point in efforts to reform Fannie Mae and Freddie Mac.

The Democrat, who will likely head the Financial Services Committee, has signaled she'll make expanded housing opportunities for lower-income consumers a top priority.

Zions' Harris Simmons named Banker of the Year; distilling the hopes and hang-ups around CRA reform; new grist in still ongoing debate over Operation Choke Point; and more from this week's most-read stories.

The bank was fined $150 million for anti-money-laundering violations because it missed — or ignored — numerous red flags in its dealings with the convicted sex offender. Here's what it should have done differently.

In his new book, “Shutdown: How Covid Shook the World’s Economy,” the historian Adam Tooze argues that the Federal Reserve's interventions preserved a flawed economic status quo. But it still isn't clear what the central bank could have done differently.

Diane Morais, the bank's consumer and commercial banking president, writes that eliminating overdrafts has had little impact on the bottom line, and she encourages more banks to do the same.