Regulators said the living wills of six banks — not Goldman or JPM — need tweaking; the investment values the global business travel unit at $5 billion.
The move follows similar offers from other major brokerages in the last two weeks, as the wealth management industry races to woo clients with the lowest-priced products possible.
Last year’s Dodd-Frank rollback facilitated the Chemical-TCF deal; the Fed is holding a conference this summer to discuss possible changes to the tests.
The financial system is safer than it was 10 years ago, says John Taft, vice chairman of Baird. But there are still risks lurking unseen in areas like ETFs,
