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.
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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.
The Department of Labor today announced a temporary enforcement policy on prohibited transaction rules applicable to investment advice fiduciaries.
The Fifth Circuit Court of Appeals today blocked third-party efforts to appeal its March ruling that vacated the Department of Labor’s fiduciary rule in its entirety.
Customers will continue to accelerate their demands for anytime/anywhere banking. They will look to banks as expert advisers who can help them overcome stress and manage financial goals.
In a long-awaited move, the Securities and Exchange Commission today proposed two new rules and an interpretation to improve investors’ understanding of their relationships with investment advisers and broker-dealers.
In a global study of banks’ digital sales capabilities, North American banks showed the largest improvement, led largely by U.S. institutions, according to a study by financial technology provider Avoka.
Over the past 15 years since they were created, health savings accounts have grown to 22 million accounts totaling $45.2 billion in assets — and assets are expected to surpass $60 billion by 2019. This fast-growing market represents a strong business opportunity for banks, according to two experts speaking on the latest episode of the ABA Banking Journal Podcast that is sponsored by WEX Health.
The FDIC has proposed to rescind the former Office of Thrift Supervision’s rule on fiduciary powers of state savings associations and amend current FDIC regulations regarding consent to exercise trust powers to reflect their applicability to both state savings associations and state nonmember banks.