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FINRA's annual snapshot shows how the wealth industry is changing, from key business metrics and marketing trends to shifts in registration and a shrinking branch footprint.
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The regional bank revealed plans Thursday to close most of its supermarket-based branches and replace about half of them with new, nearby standalone branches. The multiyear transition could attract $20 billion to $30 billion in low-cost deposits, executives said.
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The bank regulators say they will limit the sending and storage of highly sensitive supervisory information, including by using alternatives such as on-site reviews and requiring notifying banks of data compromises within 72 hours.
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State Street executives said Thursday that one of its investment funds was selected as the default investment option for "Trump accounts."
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The U.K.-based bank renewed its longest tenured co-brand program, which has been running for more than 20 years, for another decade. The renewal will help the bank expand its consumer banking portfolio.
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The central bank failed to prevent critical economic information from falling into the hands of "foreign adversaries," according to a report from its inspector general.
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Published January 12, 2007, 2:00 a.m. EST
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Updated January 11, 2007, 4:03 p.m. EST
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