Pershing LLC, a subsidiary of Bank of New York Co. Inc., said Monday that it had added Goldman Sachs Asset Management to its no-transaction-fee FundVest mutual fund program.
The FundVest program offers investors access to more than 1,700 mutual funds, managed by nearly 150 fund companies. Through FundVest, investors can buy, sell, or exchange load and no-load mutual funds without incurring regular transaction fees.
There's been an onslaught of nonbank financial technology company charter applications and approvals already this year.
A business unit CEO Jane Fraser called a "crown jewel" during the bank's first-quarter earnings call says its reaping efficiencies through virtual assistants.
The Pennsylvania-based regional bank said it will collaborate with OpenAI to deploy artificial intelligence across its commercial banking operations. OpenAI technical teams will be onsite to build custom AI capabilities.
The Treasury Department will look at recipients of awards from the Community Development Financial Institutions Fund for "potential violations of applicable law" as the Trump administration continues its campaign against alleged abuses related to the program.
Sen. Thom Tillis, R-N.C., said on Sunday that he no longer opposes Kevin Warsh's nomination to serve as chair of the Federal Reserve following the Justice Department's announced closure of its inquiry into current Fed Chair Jerome Powell.
Banks weighing stablecoin partnerships need to know whose playbook regulators will endorse before another major crypto theft tests the question.
