Taco Bell is reportedly pulling produce from some stores. Here’s what to know.
An outbreak of a parasite-caused illness has sickened more than 1,000 people in Michigan.
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Treasury Rethinks AML Rules for Banks That Know Customers
Treasury may raise longstanding bank reporting thresholds and take into account how long financial institutions have known their customers, Treasury Secretary Scott Bessent told lawmakers Tuesday (Sept. 15). House Financial Services Committee Chairman French Hill, R-Ark., asked Bessent about updating thresholds for Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs), saying the thresholds were…
T. Rowe Price to Buy F/m Investments for $19B AUM
T. Rowe Price Group is bolstering its fixed-income menu by agreeing to buy F/m Investments LLC, an asset manager with $19 billion in assets, largely focused on bond ETFs and SMAs. T. Rowe currently manages around $33 billion in ETFs across 34 funds. The addition of F/m will expand that list by 20 ETFs. According…
Federal Realty Spends $508M On Alabama Power Center
A half-billion-dollar sale of a Birmingham, Alabama, shopping center shows that deep-pocketed investors are still hungry for retail. The AMC movie theater at The Summit, an 870K SF mall in Birmingham, Alabama Maryland-based Federal Realty Investment Trust acquired The Summit, an open-air retail property spanning 870K SF, from its original developer for $508M, according to…
Archax Gains US Broker-Dealer Entry Through tZERO Infrastructure
Archax now has a regulated route into US securities distribution, entering the market without recreating its exchange, custody and clearing stack. The digital asset firm will operate as an introducing broker, relying on tZERO for the underlying US infrastructure. The Financial Industry Regulatory Authority (FINRA) approved the New Member Application of Archax Markets LLC, completing…
SEC Charges Two Individuals With Orchestrating Fraud Scheme That Targeted Veterans
The Securities and Exchange Commission today announced charges against Christopher Kenji Dinelli and Jacob David “Kobe” Frankel for allegedly orchestrating a fraud scheme that raised more than $8.7 million from 35 investors through their fund, Beyond Alpha Ventures LLC (BAV), and advisory firm, Beyond Equity LLC. According to the complaint, Dinelli, a former naval officer,…
Congress presses FHLBs on housing focus amid accusations of mission drift
At the first congressional oversight hearing to examine the Federal Home Loan Bank (FHLB) system in 15 years, lawmakers on the House Subcommittee on Housing and Insurance wanted to better understand why a Depression-era banking system designed to safeguard access to mortgage credit wasn’t doing more to advance that mission. That nearly century-old system of…
