FDIC releases 2024 Summary of Deposits data

Pennsylvania regulators closed Tioga-Franklin Savings Bank in Philadelphia and appointed the FDIC as receiver. Second Federal Savings and Loan Association of Philadelphia agreed to assume all deposits and purchase substantially all assets of the bank.

A proposed rule to require payment stablecoin issuers to maintain customer identification programs must go further if it is to reflect those firms’ business models and ensure equal treatment for all financial institutions, ABA said.

A recent effort by the Financial Action Task Force to improve cross-border payment transparency is commendable, but there are additional steps the task force should take to reduce operational challenges and preserve a true risk-based approach, ABA said.

The 30-year Treasury yield recently reached a nearly 20-year high amid concerns over the fiscal deficit, AI-related borrowing, and inflation

Finances remain a major source of stress in relationships, with nearly three in five people saying they have felt scared or embarrassed to discuss their financial situation with their partner, according to a new survey by TD Bank.

Most parents and grandparents believe today’s children are less prepared to manage money as adults than they were at the same age, according to a new survey by Wealth Enhancement. The survey also polled adults on their feelings...