TD Bank Financial Group's wealth management arm said Monday that it plans to terminate its family of exchange-traded funds.
TD Asset Management Inc., which is based in Toronto, said it will liquidate its four exchange-traded portfolios on or about March 13. A spokeswoman for TD Asset Management said it had decided to scrap the funds because of a lack of investor interest and low trading volumes since they were launched.
The recent uptick in commercial-and-industrial lending is the result of disruption in the private credit sector, one economist argues. Bank analysts say the upheaval in private credit is one factor among many.
The president's son has seemingly cut ties with the digital asset fintech ALT5 Sigma, whose shares lost 90% of their value after purchasing the tokens.
The Consumer Financial Protection Bureau finalized a new version of a small-business lending rule that took 17 years to get over the finish line. Banks are still lobbying for the rule to be repealed.
New York extracted $5 million and a broker registration from Uphold over its promotion of CredEarn, a yield product whose issuer collapsed in 2020.
A federal judge harshly criticized the settlement of a civil suit between the Department of Justice and a Texas land developer.
The San Antonio-based bank reported annual declines in net charge-offs and nonaccrual loans, extending a run of solid credit-quality trends at Texas-based regional banks.
