BROOKFIELD, Wis. - (11/29/05) -- Fiserv said its Investment SupportServices unit has acquired more than 1,000 self-directed IRAaccounts with $48 million of assets from Arrowhead Trust Inc., awholly owned CUSO of Arrowhead CU. The accounts held bothtraditional investments, such as mutual funds, and alternativeinvestments, like private equity, real estate, mortgages and trustdeeds. Fiserv is the largest independent custodian that administersboth types of assets in retirement accounts, and has 320,000accounts and custodian accounts with $38 billion inassets
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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
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Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
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The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
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Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
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