Why Mutual Funds Are the Most Popular Investment for US Households: ICI
The mutual fund industry trade group reports that almost half of all U.S. households own mutual funds.
What Bank Investors Learned From JPMorgan, Citigroup Results
Start of earnings season showed trading revenue was muted; JPMorgan had better lending margins, Citigroup cut expense.
5 Takeaways From BofA, Wells Fargo Q3 Earnings
Consumer lending shows cracks on the second day of earnings season; the four largest U.S. banks cut their combined workforce after a pause.
Wells Fargo Hit by Surprise Charge From Pre-Crisis Mortgages
The bank takes a $1 billion charge for a pre-crisis mortgage probe; the surprise charge adds to headaches from the fake-accounts episode.
Trump Names New EBSA Chief to Replace Borzi
If confirmed, Preston Rutledge will be instrumental in shepherding through any change that Labor makes to its fiduciary rule.
SEC Charges 3 in Caffeinated Snack Scam: Enforcement
In another action, the SEC charged an attorney with participating in a Ponzi scheme.
Oranj Launches Free Wealth Management Software Product for Advisors
The MAX offering includes model portfolios and funds from BlackRock, Direxion, Morningstar, ETF Securities and Frost Investment Advisors.
Bill to Kill DOL Fiduciary Rule Passes House Panel
Opponents of the DOL fiduciary rule were quick to express support of Rep. Wagner’s bill.
Families Saving More for College but Underestimating Costs: Fidelity
Fidelity's College Savings IQ survey also found that more families are using 529 college savings plans but many don't understand all the advantages.
Largest Women’s Symposium Ever, Yet Percentage of Women Hasn’t Budged
Michelle Lynch described the process of getting more women into the industry as “organic and slow.”