Many employees, particularly women, are likely to become unexpected caregivers at some point. Companies should do more to ease their burden, says a top retirement and wealth specialist at Bank of America Merrill Lynch.
The agency says it is not cutting its workforce but that the new strategy is necessary because it has an unusually high number of workers near retirement age.
A range of startups are experimenting with more ethical retirement savings products than traditional reverse mortgages and annuities, says venture capitalist Ben Cukier. However, according to Cukier, they're too focused millennials and ignoring a group with more urgent needs and greater wealth — baby boomers.
Readers react to Capital One's massive data breach, raise alarm to The Bancorp's expansion in CRE securitizations, defend fintechs offering retirement plans and more.
House lawmakers go light on BB&T-SunTrust merger; Santander Bank names longtime MUFG Union executive its CEO; the fintechs trying to solve America's retirement problem; and more from this week's most-read stories.
The business, which has $827 billion in assets under administration, includes operations in the U.S., the Philippines and India, according to the buyer, Principal Financial Group.
Two U.S. senators demand an investigation into the German bank over security, criminal risks; the Treasury has proposed rules to help foreign banks deal with last year’s tax law.
Wells Fargo is considering a sale of its retirement-plan services business, which could fetch as much as $1 billion, according to people familiar with the matter.
