Living in Philadelphia’s Society Hill during the 1976 Bicentennial was a banking historian’s dream come true. Most Americans experienced it through the lens of patriotism and politics. I experienced it through the lens of banking history. Philadelphia didn’t just host the Founding Fathers. It financed them. Philadelphia gave us the bank that funded Washington’s army,…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not…
Somewhere in most 1031 exchanges, the advisor hits a fork. The client has an appreciated rental or a small commercial building, a gain large enough that a straight sale would hand close to a third of it to the IRS, and a growing sense that they are done being a landlord. They have 45 days…
“We pay up to 2 1/2 points on our HELOCs,” he said. “We recently enhanced our HELOC to allow up to a $1 million HELOC, and 2.5% on a $1 million deal, that’s $25,000. You do four of those, that’s $100,000 a year.” He noted that homeowners are sitting on approximately $35 trillion in home…
Citi strengthened its position as one of the world’s leading Islamic finance institutions in 2025, combining scale, product expertise and international distribution capabilities to maintain its role at the centre of the global sukuk market. Building on more than four decades of experience in Islamic finance, the bank continued to invest in its franchise while…
Enterprise AI has spent the last two years proving it can summarize documents, answer questions and automate repetitive work. Banking has spent the same two years asking a different question: can artificial intelligence be trusted to make decisions that carry financial, regulatory and legal consequences? That threshold, as Maik Taro Wehmeyer, co-founder and CEO at Taktile,…
Minutes Item 1: Welcome and Apologies Andrea Rosen (Chair, Bank of England) welcomed James Ellery (Goldman Sachs) and Oliver McCausland (FCA) to the Committee.Ms Rosen also welcomed Alina Ishmuratova (JPMorgan), Paul Robson (NatWest Markets) and Vasileios Gkionakis (Aviva Investors) as guest presenters; and Mark Wyatt (Barclays) as an observer.Ms Rosen announced that Alan Barnes (FCA),…
Matt Schulz (pictured top), chief consumer finance analyst at LendingTree, said in the highest-cost markets, first-time buyers have very little room to work with when trying to become a homeowner. The practical solution may involve looking at other markets, if their situation allows, which could be an advantage for brokers licensed in multiple states. “People…
A proposal to put a McDonald’s drive-through on a corner in Huntington, NY, drew such a large crowd to a recent zoning hearing that the board scrapped the rest of its agenda to deal with it. The plan would replace a long-vacant Citibank property in the Greenlawn hamlet at East Pulaski Road and Park Avenue…
Global analytics software leader FICO has announced that Fannie Mae and Freddie Mac have released expanded historical datasets for FICO Score 10T, covering loan-level performance data from April 2013 through September 2025. “The Federal Housing Finance Agency and the GSEs have taken an important step forward in advancing the credit score modernization effort with the…