Banks BofA VP Erin Piacenti killed in Times Square stabbing attack Bank of America VP Erin Piacenti, 32, was killed in a random Times Square stabbing on Monday. NYPD shot and killed the suspect, 49-year-old Pamela Cisneros, who had a documented mental health history.
Banks Wall Street Banks Push Big Law to Cut Fees, Citing AI Efficiency Goldman Sachs, Morgan Stanley, and Citi are pressing Big Law to cut fees, arguing AI has made the billable-hour associate model unsustainable. Here is what it means for the banks and the market.
Banks Judge Approves Bank of America's $72.5M Epstein Victims Settlement A federal judge approved Bank of America's $72.5 million settlement with Jeffrey Epstein's victims, making BAC the third major bank to publicly settle after JPMorgan and Deutsche Bank.
Markets BofA's Hartnett: Stocks Face 10%+ Drop if Democrats Take Senate Bank of America's Michael Hartnett warns that U.S. stocks could fall over 10% if Democrats take control of the Senate in the upcoming November midterm elections. This forecast is based on potential impacts to financial deregulation and AI capital expenditure policies, challenging the market's…
Markets SEC subpoenas Goldman, JPM, Citi, BofA over Situational Awareness collapse The SEC has subpoenaed Goldman Sachs, JPMorgan, Citigroup and Bank of America over their role financing AI hedge fund Situational Awareness, which nearly collapsed in July after a leveraged chip trade blew up.
Markets Private Equity Sitting on 33,575 Unsold Businesses: NYT Private equity is stuck with 33,575 unsold portfolio companies, per NYT and PitchBook, the biggest backlog on record. Exits are jammed and holding periods are stretching.
Macro Gray Divorce Rates Surge Among Americans Over 65 While overall U.S. divorce rates decline, divorces among adults aged 65 and older have nearly tripled since 1990, now accounting for 15.2% of divorces.
Markets Wells Fargo Forecasts Potential Fed Rate Hike Amid Inflation Concerns Wells Fargo anticipates a potential 25 bps Fed rate hike in 2026 due to persistent inflation, impacting bond markets and investor strategies.
Markets Y'all Street is hiring: Dallas becomes finance's new power center Dallas has become the second-largest finance hub in the country, with Goldman Sachs, JPMorgan, and Bank of America pouring billions into a region now branded Y'all Street.
Macro 53% of Millennials Still Lean on Parents Financially: Northwestern Mutual 53% of Millennials are not fully financially independent from their parents, per a new Northwestern Mutual study. The read-through hits housing, lenders, and consumer names.
Macro 72% of Gen Z Still Financially Dependent on Parents: Northwestern Mutual Northwestern Mutual's 2026 Planning & Progress Study shows 72% of Gen Z and 53% of millennials still lean on parents for financial support, with the average American not independent until age 37.
Macro 1 in 3 Workers Have More Credit Card Debt Than Retirement Savings: Schroders Schroders' 2026 US Retirement Survey shows 33% of workplace plan participants carry more credit card debt than retirement savings, while the target for a comfortable retirement climbed to $1.2 million.
Politics Treasury repeals FinCEN beneficial ownership reporting rule Treasury and FinCEN finalized a rule permanently ending beneficial ownership reporting for U.S. companies under the Corporate Transparency Act, and will delete previously filed data. Foreign entities still face reporting obligations.
Markets Americans Say It Takes $2.1 Million to Retire Comfortably A BlackRock survey put the number to retire comfortably at $2.1 million, above the $1.46M Northwestern Mutual figure. Most workers are not close to either.
Markets 35% of Adults Pay for Groceries with Credit Cards and Settle Balances Monthly Approximately 35% of adults use credit cards for grocery purchases and pay off balances monthly, while others carry debt, indicating varied financial strategies amid rising food costs.
Macro Bank of America Sees Three Fed Rate Hikes in 2026 Bank of America now expects the Fed to hike three times in 2026 — September, October, and December — reversing its prior on-hold call. CME FedWatch puts those odds at just 6.2%.
Banks Bank of America Spends $250M a Year on GLP-1 Drugs for Employees Bank of America now spends more than $250 million a year on GLP-1 drugs like Ozempic, Wegovy, and Zepbound for its 211,000 employees, about 13% of its total healthcare budget, CEO Brian Moynihan said.
Markets 63% of Americans Have Less Than $500 Left After Monthly Bills A recent survey reveals that 63% of Americans have less than $500 remaining each month after paying bills, highlighting potential impacts on consumer spending and market sectors.
Banks Wells Fargo: Paychecks Rising Faster Than Inflation for Customers Wells Fargo CEO Charlie Scharf says paychecks are rising faster than inflation for its customer base, with card spend up double digits and delinquencies falling, even as broader CPI data tells a more complicated story.
Macro Boomers Sit on $93 Trillion in Assets, Visa Says — But Heirs Get $36T Visa says baby boomers hold at least $93 trillion in assets, but only $36 trillion will actually reach Gen X and millennial heirs after debt, retirement spending, taxes and charity.
Banks 85% of finance workers admit to faking productivity at work: survey A Software Finder survey found 85% of finance and banking workers admit to faking productivity, the highest of any industry and 19 points above the overall average.
Markets Burry Warns PE, Private Credit Use Life Insurers as Taxpayer Backstop Michael Burry warns private equity has turned life insurers into a state-backed dumping ground for risky private credit tied to tech and infrastructure, with taxpayers ultimately on the hook.
Macro 1 in 3 Workers Have More Credit Card Debt Than Retirement Savings Schroders’ 2026 US Retirement Survey found 33% of workplace retirement plan participants carry more credit card debt than retirement savings, with 51% expecting to retire with under $500,000 saved.
Macro 51% of Americans Expect Under $500K Saved for Retirement A new Schroders survey shows 51% of workplace retirement plan participants expect to retire with under $500,000 saved — well below the $1.2 million they say they need.
Macro South Koreans Are Getting Richer Faster Than Anyone Else: UBS UBS Global Wealth Report 2026 ranks South Korea first in the world for real wealth per adult growth since 2020, with gains over 55%. Here is what it means for markets and Korea-linked tickers.
