NEW YORK New York Life Insurance Co. has two new products for the estate and business succession planning market.
Both are variable life products in the Pinnacle Series line and are marketed through the companys New York Life Insurance and Annuity Corp. subsidiary.
The new products have 33 investment options, including a fixed account and a scheduled term rider. The latter lets the customer adapt coverage beyond the year 2010 to changes to estate-tax law.
The top five banks and thrifts have combined total assets of nearly $13 trillion.
The two regional banks are anticipating that borrower demand will increase in the back half of the year. High interest rates and economic uncertainty have been muting the appetite for borrowing.
In a letter to Treasury Secretary Janet Yellen last week, the Massachusetts senator highlighted the growing use of cryptocurrencies by malicious organizations abroad and underscored the need for anti-money-laundering and counterterrorism provisions in future proposals.
Brendon Falconer, finance chief of the Indiana company since 2019, faces felony child molestation charges. But CEO James Ryan says management is focused on the CapStar integration and organic growth.
The banking-as-a-service middleware provider will be acquired by TabaPay. Other middleware providers may be forced to evolve or face the same fate.
Institutions and their investors are facing pressure from climate activists, cautiously awaiting interest rate cuts and adjusting to new Federal Reserve and FDIC policies.
