Wealth management

The U.S. economic recovery could take a major hit if the Biden administration fails to extend the federal government’s pandemic moratorium on student-loan payments past September, Senate Majority Leader Chuck Schumer said.

Join the newly appointed executive for a look at the changes happening at the online financial services company and broader fintech industry.

JPMorgan Chase is planning to more than double the advisors in its traditional broker business as the Wall Street giant plots an expansion in wealth management amid intensifying competition for rich clients.

The Pittsburgh company offset relatively flat revenue and lending in the second quarter with strong service charges, wealth management fees and a $1.1 million reserve release.

Citigroup will let retail customers bet on stocks without paying fees as the bank tries to expand its wealth business in the face of fierce competition from Silicon Valley ventures, discount brokerages and big-banking peers.

The Minneapolis company has agreed to buy PFM Asset Management. Like many in the industry, it is hunting for additional sources of noninterest income.

Credit Suisse Group and JPMorgan Chase’s asset and wealth management business are working together to develop a new investment strategy focused on sustainable nutrition.

The deal follows JPMorgan’s recent takeover of 55ip, a fintech that focuses on helping investors cut their tax liabilities.

Rohit Chopra, who was the Consumer Financial Protection Bureau's first student loan ombudsman, is expected to crack down on unfair debt collection and other practices once he is confirmed by the Senate to lead the bureau. Observers predict he'll work closely with former CFPB Director Richard Cordray, who now oversees the Education Department’s $1.7 trillion portfolio of federal student loans.