Other banks may follow Bank of America Corp.’s decision this month to cut mortgage clients’ borrowing costs drastically, including waiving the requirement for private mortgage insurance, industry observers say.
Brokerage firms, preparing to transition existing customers into alternative fee programs, are putting the freeze on new fee-based brokerage accounts.
LOS ANGELES — Fueled by a flood of money from private-equity firms buying local businesses as well as a spectacular appreciation of real estate values, California’s Orange County has emerged from the shadows of neighboring Los Angeles as a wealth management powerhouse in its own right.
State-level budget pressures are fueling an investment bonanza for those firms with the resources and wherewithal to tap into a fast-developing market of infrastructure investments.
Now that the Financial Planning Association’s victory over fee-based brokerage accounts is cemented, some in the securities industry are wondering whether the group will take aim at other brokerage transactions that hinge upon a registered representative giving clients advice.
Bank of America Corp. has been sued for race discrimination by allegedly steering wealthy clients to white co-workers.
Add financial literacy and trust in financial institutions to the factors that increase 401(k) participation rates.
Bank of America appoints Moynihan and Sevilla-Sacasa to head a wealth team that incorporates U.S. Trust Corp.
John C. Whitehead said he is outraged by the excessive compensation given to Wall Street top execs.
Russia's customs service is suing the Bank of New York for $22 billion over alleged misdeeds dating from the 1990s, according to Russian news agencies.
