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Two of the banks that collapsed in 2023 were subject to a weaker system of investor-disclosure oversight than most public companies, prompting the government watchdog to call for changes.
The Securities and Exchange Commission proposal would eliminate a ban on investment advisors receiving government contracts within two years of making political contributions. The agency says existing laws can address pay-to-play conflicts of interest.
Fee increases Charles Schwab is adopting for its in-house advisory business will keep a cheaper alternative for high net worth clients while helping to plug revenue holes.
The billion-dollar Dallas bank had been cited for money laundering concerns, and its recent conversion to a national charter drew sharp criticism from Sen. Elizabeth Warren.
The digital bank announced a collaborative partnership with the crypto exchange platform as it continues to expand its overall digital asset strategy.
The U.S. economy added 162,000 jobs in August, bouncing back from a surprise decline in July. The Fed's next interest rate decision will still hinge on next week's inflation reading.