Economy

Drawing from both 9/11 and the 2023 Silicon Valley Bank failure, KBW's CEO Tom Michaud talks about the need to modernize deposit insurance to prevent digital bank runs.

Brent Reston will serve as BMO Financial Group's inaugural chief digital officer; LCNB Corp. appoints Susan Zaunbrecher to its board; HSBC and Standard Chartered complete a bank-to-bank tokenized deposit transaction on Swift's blockchain-based ledger; and more in this week's banking news roundup

The bank has invested in Payload, a company that has grown quickly selling new processing technology to real estate companies, with plans to expand into other industries with multiparty transactions.

A group of community development financial institutions are asking a federal court in California to compel Treasury to disburse funds from the CDFI Fund before they expire in September.

The Trump administration's refusal to release funds appropriated by Congress for community development financial institutions is actively damaging programs that serve low-income Americans.

Industry consultants recommend steps RIAs in Schwab's referral network can take if they're worried about competition for clients.

As banks consider how to expand relationships by selling new uses for artificial intelligence, getting clients to trust the innovation is a major challenge.

In a constantly changing industry, clearing and custody fees defy generalizations. The largest independent broker-dealers present financial advisors with the choice of working with a "self-clearing" firm or one that outsources those essential services.

View the exclusive research from Financial Planning's latest annual study of brokerages whose financial advisors aren't employees of the firms — and sort and compare data across the past 15 years.

The printable PDF includes rankings based on the firms' 2025 revenue as well as the number of financial advisors, compensation, total client account assets and more.

Competition for loans and deposits in Texas is mounting as out-of-state banks swoop into the Lone Star State, eager for a piece of the economic pie. Some Texas-headquartered banks are trying to hold their ground by doubling down on full relationships and customer service.

Retail sales fell 0.6% in July despite a World Cup bump and the University of Michigan's consumer sentiment index declined to cap off a pivotal week of economic indicators.

Altruist has earned legions of fans among financial advisors for sleek technology and low, clear fees. But its critics question whether that is enough to catch up to the giants that have dominated the business for decades.

Long Island-based Dime Commercial Bancshares, which continues to transform itself from a thrift into a commercial bank, is eyeing additional expansion in the Garden State.

The Federal Home Loan Bank System is a vital part of the country's housing market, but over the years, misunderstandings and misleading statistics have muddied the picture when it comes to assessing their importance.

New York City's new pied-à-terre tax is prompting financial advisors to help wealthy clients reassess their options, from residency status to estate plans.

The July jobs report was bad, but the context is worse: people leaving the labor force, stubborn inflation and rising bond yields.

America's smallest bank, with just $3.7 million of assets, survived for more than a century, including the Great Depression and the Great Recession. But, it could not survive overzealous regulators.

In American Banker's ranking of banks with the strongest metrics, here is this year's list in the $10-$50 billion range, based on data from Capital Performance Group.

Augustus National Bank, which is working to fulfill the conditions for its de novo OCC charter, was approved for federal deposit insurance by the FDIC.