Assets of money market mutual funds rose 0.86%, to $1.252 trillion, in
The growth of retail money funds narrowly outpaced that of institutional
Institutional portfolios' assets rose 0.84%, to $490.18 billion. Taxable
There are regulatory and technology efforts to reform international payments, but it's a multifaceted, long process. Swift, The Federal Reserve, and fintechs like Wise and Revolut are pushing potential solutions. Here's what banks need to know.
The Bureau of Labor Statistics released its latest Consumer Price Index reading Friday morning, showing inflation rose by 0.3% in September, slightly below August's pace. The report also found core inflation steady at 3.0%, even as shelter costs eased and gasoline prices spiked.
Some customers reportedly complained about getting locked out of their accounts after signing up for the bank's new Strata Elite credit card. "We feel like we have done the right thing for all of our good customers," Pam Habner, Citi's head of U.S. branded cards, said Tuesday.
The Long Island-based bank hasn't been profitable in eight quarters, but executives maintain that it's on the right path, citing more loan book diversity, lower expenses and an improved margin.
From baby boomers' family needs to the fearlessness of Gen Z, three bank executives discussed the work habits of different age groups at American Banker's Most Powerful Women in Banking conference.
The bank asks a federal court to toss claims from five certified classes, arguing victims have been paid and that fraudsters are included in the suit.
