Aspiration Bank co-founder sentenced to 14 years for fraud
Aspiration Co-Founder Joseph Sanberg Sentenced to 14 Years in Federal Prison In a recent development, Joseph Sanberg, the co-founder of Aspiration, a green banking fintech platform, was sentenced to 14 years in federal prison on charges of fraud. The now-defunct company has been under scrutiny for fraudulent activities, causing significant financial losses amounting to $248 […]
FNBO’s latest deal adds to its Kansas City buildout
FNBO Expands its Presence in Kansas City First National Bank of Omaha (FNBO) is set to acquire its second Kansas City-area bank in less than a year. The Nebraska-based company recently announced plans to purchase the $882 million-asset Blue Ridge Bancshares in Independence, Missouri, for an undisclosed sum. This acquisition follows the bank’s earlier purchase […]
The next financial crisis may start outside the banks
Non-Bank Financial Intermediation: A Brewing Storm for Global Financial Stability? The stability of the global financial system is a matter of paramount importance. Historically, the majority of the concerns regarding financial stability have been focused on the traditional banking system. However, a recent report from the Group of Thirty (G30) suggests that the greatest threats […]
Hedge funds are opening up internships in London for 2027
The Path to Working in a Hedge Fund If you aspire to work in a hedge fund, you typically have two main paths to get there. The most common route is to excel as a top trader within a bank’s sales & trading team and then transition into a hedge fund role. Alternatively, you can […]
RIAs, IBDs gobbling up advisors face a new challenge
Independent brokerages and registered investment advisory firms are winning the financial advisor recruiting race, according to a study by ISS Market Intelligence. The study revealed that over the past five years, these two channels have seen the largest net increases in registered representatives, with more than 39,000 representatives switching firms last year, marking a three-year […]
UniCredit stake in Commerzbank reaches 34.4%
UniCredit Raises Stake in Commerzbank Amid Opposition Italy’s leading financial institution, UniCredit, has significantly increased its stake in Commerzbank to 34.4%, a move that has faced considerable resistance in Germany. The stake was acquired through a takeover offer that commenced on May 5. This latest development has been reported in the weekly figures released by […]
With deadlines approaching, ABA urges banks to scrutinise the Scams Prevention Framework
An Overview of Australia’s Scams Prevention Framework As of 31 March 2027, the Scams Prevention Framework (SPF) will impose new codified obligations on banks in Australia. This unprecedented national-level regulatory regime is backed by federal legislation, solidifying Australia’s commitment to curb fraudulent activities in the digital age. On the previous Thursday, Ministers Daniel Mulino and […]
Fintech revenues hit record $504B in 2025: study
The Rise of Fintech Revenue Fintech revenues soared to a record high in 2025, reaching an impressive $504 billion. This growth outpaced traditional bank revenue by four times, showcasing the increasing importance of fintech in the financial services industry. A recent report highlighted this surge, indicating a significant shift in the landscape of financial technology. […]
Investor scorecard understates active performance: study
Financial advisors and other investors have, by and large, been choosing passive funds over active management for decades, thanks to their lower cost and the difficulty of beating an index. But a new working academic paper suggests one frequently cited comparison may overstate how often active managers fail to beat their passive peers. The Active […]
J.C. Flowers buys French banking arm of Monte Paschi
J.C. Flowers Acquires French Banking Arm of Monte Paschi Banque Global private investment firm, J.C. Flowers & Co, has recently acquired the French banking arm of Monte Paschi Banque. The firm has not disclosed the financial details of the acquisition. The bank, which previously operated as the French unit of Monte dei Paschi di Siena, […]