Fidelity Investments cut fees on all of its managed Section 529 college-savings plans by one-third to one-half. As a result of the fee cuts, the index fund fees that Fidelity sells in its direct-sold 529 plans based in New Hampshire, California, Massachusetts, Delaware and Arizona now range from 25 to 35 basis points. Actively managed fees now range from 59 basis points to 1.04%. For adviser-sold plans, fees now range from 84 basis points to 1.48%.
Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Tuesday morning that she is working with other regulators around the world to emphasize innovation in the banking sector, including with artificial intelligence.
The new Fed is going to do less talking, if Kevin Warsh has his way. But talking is a powerful tool the Fed can use to get what it wants.
Market watchers say it is plausible that regulators will have established rules of the road for tokenized bank deposits by next year. But to get there, many outstanding issues will need to be ironed out first.
Oklahoma's Bank7 may acquire New Mexico's Century Bank by the end of the year. The reason: A wealthy Century shareholder is being forced to sell his shares to satisfy a $40 million debt.
Organizers of Bank of St. George were close to the finish line in 2020 when the COVID-19 pandemic arrived. Now CEO Bruce Jensen says the planned bank should open its doors by the end of the year.
Two executive orders pulled federal deadlines for quantum-proof encryption forward to 2030, after 2026 research cut the cost of breaking today's codes.
