Nuveen Investments Inc. said fourth-quarter profits rose 15% from a year earlier, to $50.2 million, or 60 cents a share.
The earnings, which the Chicago money manager announced Friday, missed the average estimate of analysts polled by Thomson Financial by a penny a share.
Operating revenue increased 24%, to $195.6 million, and assets under management increased 19.1%, to $162 billion as of Dec. 31.
In order for artificial intelligence to be useful, it has to be powered by accurate information, three community-bank executives agreed at a virtual panel hosted by American Banker.
The Office of the Comptroller of the Currency issued an interim final rule Friday to clarify banks' leeway to charge interchange fees, explicitly blocking the applicability of a law passed in Illinois that would ban charging interchange fees on taxes and tips that goes into effect in July.
American Banker's BNPL Tradeoff Survey finds risk and regulatory fears are leading many banks and credit unions to hold off on offering the lending product.
In evaluating Enova's proposed acquisition of Grasshopper Bancorp, regulators must decide whether to allow lending products with annual percentage rates of nearly 100% into the national banking system.
The cryptocurrency company has collaborated with payment tech firm Nium to enable conversions to traditional currency, a play to boost use of the digital assets for payments and diversify Coinbase's revenue sources.
Fintech firm IntraFi's most recent quarterly survey of bank executives showed rising pessimism among bankers related to "instability in Washington," as well as growing concerns about technology-enabled fraud.
