DOL Proposes Rule to Help Small Businesses Offer Retirement Plans
A new proposal from the Department of Labor today would allow small businesses to band together to offer 401(k) plans to employees like those offered by larger companies.
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FS-ISAC Launches Framework to Address Secure Exchanges of Bank, Nonbank Data
As more consumers seek to use various nonbank fintech solutions that depend on bank-based data, the Financial Services Information Sharing and Analysis Center today launched Financial Data Exchange, or FDX, an organization that will facilitate the secure sharing of customers’ data.
Podcast: How Insurance and Wealth Management Round Out a Community Bank Model
Clay Ewing is president and chief banking officer of a community bank with a name that reflects its heritage — but German American Bank is well ahead in developing a well-rounded community bank model that thrives.
Executive Order Calls for Review of Retirement Account Rules
President Trump on Friday issued an executive order requiring the Treasury and Labor Departments to consider amendments to rules affecting retirement accounts, including employer plans and individual retirement accounts.
Survey: Consumers Worried about Third-Party Financial Data Access
Two-thirds of consumers who use nonbank fintech apps are extremely concerned or very concerned about data privacy, according to a recent survey conducted for the Clearing House.
SEC ‘Best Interest’ Proposal Reflects ABA-Supported Principles
In a comment letter to the Securities and Exchange Commission today, ABA offered feedback on…
IRS Clarifies Deductibility of Trustee Fees from Trust Income
In a recent notice, the Internal Revenue Service released guidance clarifying that trustee and executor fees may continue to be deducted from a trust or estate’s income after the new tax reform law suspended the deduction of miscellaneous itemized deductions for by individual, trust and estate taxpayers.
Podcast: ITMs, Wealth Management and High-Touch Community Banking with Jim Edwards
For Jim Edwards, a third-generation banker and the chairman and CEO of United Bank Corp. in Zebulon, Ga., community banking is about providing a “high-touch” experience.
DOL Announces Relief for Fiduciaries
The Department of Labor today announced a temporary enforcement policy on prohibited transaction rules applicable to investment advice fiduciaries.