Banking & Financial Services News on Business Daily

BMO Financial Corp has announced that it has received an outstanding rating in the Community Reinvestment Act (CRA) Performance Evaluation, as assessed by the Office of the Comptroller of the Currency (OCC). The OCC's evaluation is based on a bank's adherence to federal law requirements, which set a standard for commitment to community reinvestment.

BMO has announced the expansion of its BMORE initiative, a program designed to eradicate employment barriers and bolster opportunities in banking and finance for historically marginalized communities. The initiative was launched three years ago in partnership with Cara Collective.

Information Technology And Innovation Foundation, a non-profit think tank focused on promoting policies that advance innovation, technology, and economic growth said that companies such as Amazon and Walmart have created faster and faster methods of delivering products. In the wake of these developments policymakers are creating regulations that stifle innovation and limit product availability.

A U.S. court has determined that data from the Interactive Advertising Bureau (IAB), a prominent industry association dedicated to the growth and development of the digital advertising ecosystem, is crucial for ensuring a just resolution in a legal case involving Amazon. The Federal Trade Commission (FTC) had attempted to prevent the primary trade association from submitting an amicus brief that highlights issues with the agency's legal action against the online retailer. This decision comes amidst ongoing disputes over antitrust laws and freedom of speech in the rapidly...

``` Bank of America announced a new feature allowing clients to prequalify for auto financing without affecting their credit scores, providing information on potential borrowing amounts and estimated terms. The bank's Digital Car Shopping tool has also been enhanced with improved search functions, electric vehicle inventory filtering, integrated loan applications, and in-platform CARFAX™ reviews. This innovation is in line with the bank's commitment to simplifying finance processes for its clients.

North Carolina has scored some economic development wins lately, including plans by biotech and electric vehicle companies. Now, JPMorgan Chase is adding its name to the list.

Many companies now report that group health insurance costs are climbing at a faster rate than corporate revenue. And it’s not just the employers that are facing increasingly harsh headwinds; employees are struggling to cope with payroll deductions for insurance premiums that are further eroding their ability to make ends meet.

As a state that has part of its pension funds under BlackRock's management, South Carolina might want to consider whether BlackRock’s strategy aligns with what its citizens want.

Consumers’ Research recently published a warning letter to the public and states with pension funds invested in BlackRock, a firm that holds roughly $10 trillion under management worldwide, highlighting its ties to China.