Are target date funds aggressive enough to give Americans retirement savings that last their lifetimes?
The popular default investments may need to be more aggressive in order to fund decades of retirement.
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FinTech company Avant filed an application to establish an insured national bank called Avant Bank, N.A., the company said in a Friday (Sept. 18) press release. Avant filed the application for a national bank charter with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp., according to the release. Avant…
Retail Investing Opens Up to AI Assistants
Scalable Capital became the first bank in Europe to open its investment platform directly to outside artificial intelligence assistants on Aug. 25, letting customers connect ChatGPT, Claude or Grok to a real brokerage account holding actual money, Scalable Capital said in its announcement. The German neobroker, which holds more than €60 billion for over 1…
Hacked FBI Data Exposes Sensitive Details on Employees
A trove of data allegedly stolen from the FBI includes detailed information about employees working on sensitive intelligence, counterespionage and security operations, Reuters reported Wednesday (Sept. 23). The data, obtained by the hacking group ShinyHunters, includes a 5,000-line spreadsheet containing names, addresses, telephone numbers, dates of birth, Social Security numbers and emergency contact information for…
SAMPAN launches Nepal flood appeal
The South Asian Mortgage Professionals & Allies Network (SAMPAN) has launched an appeal to raise funds for those affected by devastating floods in Nepal. The network is aiming to raise £20,000 in support of the Nepal Appeal, delivered in partnership with disaster relief charity Sewa International UK. The volunteer-led charity has volunteers on the…
Arc Capital Lands $29M Refi for Chapman Market in L.A.’s Koreatown – Commercial Observer
Arc Capital Partners has secured $29.3 million to refinance the Chapman Market, a nearly century-old retail and dining destination in Los Angeles’ Koreatown. Voya Investment Management provided the financing for the popular 41,241-square-foot property at 3465 West Sixth Street, also known as Chapman Plaza, along one of Koreatown’s primary commercial corridors. Arc Capital acquired the…
Pennymac, UWM top competitors’ early conforming limit upsize
The two remaining large non-bank mortgage lenders that boost their conforming limits well in advance of the Federal Housing Finance Agency’s annual announcement have gone even higher than the competition in raising their preliminary thresholds. Processing Content The move comes as the Mortgage Bankers Association Weekly Applications Survey Market Composite Index for Sept. 11 ended…
