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The latest generation of anti-money-laundering software uses agentic AI to help alleviate AML alert fatigue. Experts say this use of the technology is promising, though they offer some caveats.

  • Brick Sturgeon remembers his "lightbulb moment." His clients were two middle-aged sisters who had inherited $500,000 from their father. Two years after his death, however, the money still sat in their father's accounts.

  • The nation's largest independent broker-dealer, LPL recently signed a contract with a social media compliance service and has signed up 1,000 advisors to use sites including Facebook, LinkedIn and Twitter. It is adding about 100 more each week, said Andy Kalbaugh, executive vice president of business consulting at LPL Financial.

  • Congress may hand oversight of almost 12,000 investment advisors to Wall Street's self-funded regulator as a cost-saving measure. The price could be paid by investors.

Technology

Bank of America customers could soon interact with the bank via Facebook's Messenger app, the banking company said Tuesday.

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Lisa Cook

In her first public appearance since President Trump moved to fire her from the Federal Reserve Board of Governors, Fed Gov. Lisa Cook reiterated her commitment to bringing inflation under 2% and said that the labor market remains "solid."

Financial literacy advocate John Hope Bryant has joined with a Los Angeles-based developer in an effort to raise up to $300 million from banks to preserve and construct low-income housing around the country.