Retirement lobbyists and plan sponsors are increasingly worried that tax reform will lead to a rollback of tax preferences given to retirement savings. As lawmakers look for ways to cut taxes without increasing the deficit, negotiators will be looking "where they feel they have the least political pain," said Lew Minsky, president and CEO of the Defined Contribution Institutional Investment Association.
Banks and payment sources have many times shied away from business with controversial entities, such as extremists groups and legal marijuana operations. Others affected include WikiLeaks and founder Julian Assange, as well as North Carolina, which has passed a controversial bathroom bill.
More banks and credit card issuers are using social media to attract not only consumers but also business clients. "Our current and prospective customers are business owners and employees, but most importantly they are people -- people who spend their time on social media," said Tatyana Zlotsky of American Express OPEN.
CBA board member Tim Wennes has been named one of the 500 most influential people in Los Angeles by the Los Angeles Business Journal. Wennes is the West Coast president of Union Bank.
Nearly all women in households with more than $4 million in investable assets are either sole or joint decision-makers regarding household banking, and 84% are at least somewhat responsible for the family's investments, an RBC Wealth Management survey finds. The survey also indicates that women in this classification -- which has been described as one of the world's largest emerging markets -- are more likely than men to seek financial advice and to be content with a general grasp of financial scenarios without needing to know details.
A group of young advisers who are considered future leaders recently offered predictions on the shape of the industry in coming years. Among their expectations are an increased focus on foreign national clients in the US, a rise in affluent female investors and a shift in emphasis away from straightforward financial to behavioral advice.
A $192 million settlement announced by the Consumer Financial Protection Bureau and 13 states covers about 41,000 students who obtained private loans to attend the now-defunct for-profit Corinthian Colleges. The settlement awaits approval from the US District Court.
Artificial intelligence helps banks fight cybercrime but also makes them vulnerable to attacks, cybersecurity experts say. "The reason cybercriminals don't knock over banks as much as they use malware or other cybertechniques is because the technology lends itself to providing better outcomes," said Steve Grobman, chief technology officer at McAfee.