As expected, the Fed again hiked short-term rates last week, a course aimed at damping inflation and tempering economic growth. Jeff Taylor, a NAFCU economist, said inflation continues to rise, especially for the Fed's core personal consumption index, which increased to an annualized 1.75%, and 2.3% for the last three months. "That's considered at the upper level of their comfort level," said Taylor. The Fed has raised the short-term rate six times over the past nine months.
Many clients avoid consolidating their assets at a single firm because they don't want the hassle. Advisors say it's important when to know not only when they're most likely to want to move assets, but also what to say.
The Consumer Financial Protection Bureau is overhauling its consumer complaint portal after receiving 6.6 million complaints last year, more than double the 3.2 million in 2024, citing abuse by credit repair firms and social media influencers.
The wealth management firm received its conditional approval from the OCC as it seeks to manage custody of digital asset investments for its clients.
Colony Bankcorp has reached a $163 million deal to acquire Florence, South Carolina-based First Reliance Bancshares.
The Federal Deposit Insurance Corp. issued proposals Thursday that would reduce planning requirements for big banks and slash deposit insurance prices, citing the financial health of the Deposit Insurance Fund.
The card network's recent partnerships attempt to build demand for new forms of artificial intelligence while feeding "value added" revenue — a nonpayment fee metric that investors watch closely.
