LAS VEGAS -
Tom Glatt, CEO of Continental FCU, took over a credit union with 16.5% capital. It has since begun investing that capital, he said. "You need to have a net worth plan," said Glatt. "How are you using that net worth to benefit the members? The only time in this industry you have to have a net worth plan is when you drop below 6%."
The sixth bank failure this year shows that even as the industry overall is very profitable, there are pressures on a lot of banks that aren't the biggest.
Bankers have taken out ad buys against incumbent Republican Senator Roger Marshall of Kansas as he struggles to hold what has traditionally been a ruby-red Senate seat.
The $736 million Orange County bank had faced a smattering of enforcement actions over the years, including for concentration risks, governance issues and questionable insider transactions.
As the U.N. renews its call for $1.3 trillion a year in climate finance, four leaders in climate finance say the biggest question for advisors is where that money goes.
The National Association of Insurance Commissioners responded to a query from Sen. Elizabeth Warren about risks to policyholders stemming from private-equity ownership of life insurers.
The platform had a lawsuit filed against it by New York officials this week as the latest in a series of cases against prediction markets on the state level.
