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Wall Street's AI Coaches Charge $25K a Day to Drive the Agentic Shift
technology11 hours ago

Wall Street's AI Coaches Charge $25K a Day to Drive the Agentic Shift

Two former bankers, Felipe Sinisterra and Dave Wang, run Wall Street Prompt and now charge about $25,000 per day to teach banks how to deploy AI in workflows, using Google’s Gemini to analyze pitch videos, FBI-inspired behavioral analytics to flag red flags, and OpenAI/Anthropic tools to turn earnings calls into forecast-ready data. Their clients include Citi, Bank of America, and others, and demand is so high they’re backlogged for two months. The trainers claim AI is becoming a necessary edge and are even exploring Singapore as a base while building live webinars for finance professionals.

via Bloomberg.com|
#ai-trainers#artificial-intelligence#automation
Fed invites input on a pilot 'payment account' to streamline settlement for select institutions
finance5 days ago

Fed invites input on a pilot 'payment account' to streamline settlement for select institutions

The Federal Reserve Board is seeking public comment on a proposal to establish a dedicated 'payment account' that eligible institutions could use to clear and settle payments. The account would not provide intraday credit or interest and would include automated controls to prevent overdrafts, aiming to reduce costs and speed up payments for evolving business models while managing risks. The plan also contemplates a temporary pause on access decisions for Tier 3 institutions during policy development and notes a higher closing-balance limit. The 60-day comment period follows publication in the Federal Register.

via Federal Reserve (.gov)|
#federal-reserve#finance#nonfederally-insured
Mortgage rates rise again, nudging buyers toward riskier ARMs as demand cools
finance6 days ago

Mortgage rates rise again, nudging buyers toward riskier ARMs as demand cools

U.S. mortgage rates rose again last week, with the 30-year fixed-rate average at 6.56% (up from 6.46%), the highest in seven weeks, as higher yields push borrowers toward riskier ARMs. Total mortgage applications fell 2.3% and purchase applications declined 4%, signaling softer demand. The ARM share rose to nearly 10%—the highest since October 2025—reflecting demand for lower initial payments despite later rate resets. The five-year ARM averaged 5.76%. Refinance activity fell 0.1% but remained 35% higher year over year. Analysts attribute the rise to inflation concerns and rising Treasury yields.

via CNBC|
#adjustable-rate-mortgage#finance#homebuying
Generational Wealth Preserved: Four Habits of the Ultra-Wealthy
finance10 days ago

Generational Wealth Preserved: Four Habits of the Ultra-Wealthy

In an as-told-to interview, Rob Mallernee, CEO of Eton Solutions and a longtime adviser to ultra‑high‑net‑worth families, says the four habits that keep wealth lasting are: cultivate a purpose-driven family culture so wealth is stewarded rather than owed, treat tax planning as an ongoing, strategic process with tax-efficient investments, buy-and-hold core assets to reduce taxes and costs (and borrow against holdings rather than selling), and stay frugal by scrutinizing even small expenses to protect wealth across generations.

via Business Insider|
#family-culture#finance#long-term-investing
San Diego’s $118M Budget Gap: Tough Tradeoffs to Keep City Services Running
local-government11 days ago

San Diego’s $118M Budget Gap: Tough Tradeoffs to Keep City Services Running

San Diego faces a $118 million budget shortfall for the current year, prompting Mayor Todd Gloria to propose painful cuts to arts and culture, libraries, parks and recreation, while KPBS explains the underpinnings of the city’s finances—general fund, special revenue and enterprise funds—and what a structural deficit means, aided by an interactive budget-balancing game and insights from Independent Budget Analyst Charles Modica on how decisions are evaluated and made for the July 1–June 30 fiscal year.

via KPBS|
#budget#finance#local-government
Mom Battles SoFi in Court to Erase a $55K Private Student Loan
finance12 days ago

Mom Battles SoFi in Court to Erase a $55K Private Student Loan

A mother of two is suing SoFi to discharge a $55,000 private student loan after a mistaken “Congrats, your balance is $0” email coincided with a loan transfer, triggering a default and a lawsuit. Representing herself for two years, she uses AI to help draft filings and faces the emotional and financial toll, plus potential wage garnishment and credit damage if she loses. The story illustrates how confusing notices and loan ownership changes can push borrowers into lawsuits, a theme explored in Business Insider’s ongoing Student Debt Spiral coverage.

via Business Insider|
#consumer-finance#debt-relief#finance
Griffin Expands Miami Footprint as NYC Finance Jobs Face Potential Outflow
business19 days ago

Griffin Expands Miami Footprint as NYC Finance Jobs Face Potential Outflow

Hedge fund titan Ken Griffin says Mayor Mamdani’s 'tax the rich' video spurred Citadel to scale back NYC plans and shift investment toward Miami, warning that up to 2,700 finance jobs and about $168 million in tax revenue could leave New York; Apollo Global Management weighs a 1,000-employee hub in Florida or Texas as Citadel expands in Miami, while Mamdani defends tax reform aimed at funding city services and reducing inequality.

via New York Post|
#business#corporate-relocation#finance
OpenAI CFO Signals IPO Might Slip to 2027 Amid Cash-Flow Cautions
business23 days ago

OpenAI CFO Signals IPO Might Slip to 2027 Amid Cash-Flow Cautions

OpenAI's chief financial officer Sarah Friar reportedly advised delaying the company's planned 2026 IPO to 2027, citing the need to tighten cash burn and meet rigorous public-company reporting requirements; the Wall Street Journal says Friar has questioned OpenAI's spending on data centers and its path to profitability, noting a race to go public against rivals like Anthropic, though OpenAI officials claim revenue goals have been met for Q1 and internal targets differ from investors' expectations.

via Gizmodo|
#business#finance#ipo