MetLife Inc. in New York has introduced a guaranteed withdrawal benefit for all its individual variable annuity products; the company said the feature is aimed at those entering retirement.
Regardless of investment performance or the actual account balance, MetLife said Tuesday, the benefit allows customers to withdraw up to 7% annually until every dollar invested has been returned - less any applicable withdrawal charges.
Two U.S. banks have failed so far in 2026, continuing the recent pattern of smaller lenders collapsing abruptly due to firm-specific issues. January's failure of Metropolitan Capital Bank & Trust and the early May failure of Community Bank & Trust – West Georgia both fit that mold.
American Banker research finds that while more than 30% agree buy now/pay later is good for banks and consumers, the majority of respondents are unconvinced.
The Iran war's disruptions have sent oil prices jumping, but drillers are far more disciplined than they were a decade ago.
The litigants, with some of the industry's deepest pockets, may be filing the rare cases to flag and potentially punish bad brokers, one expert said.
Sens. Thom Tillis, R-N.C., and Angela Alsobrooks, D-Md., have released compromise language on stablecoin yield for a long-awaited crypto market structure bill, clearing the way for a markup in the near future.
The FDIC moved quickly on Friday to sell $288 million in assets Community Bank and Trust – West Georgia to Anchor Bank, but the sale announcement leaves the fate of $27 million in uninsured deposits to be determined.
