Financial services in the United States

Cetera Unveils Comprehensive "Resiliency Pack" to Enable Financial Advisors to Navigate the Impact of the Pandemic on their Business

Wednesday, April 1, 2020 - 2:00pm

The impact of the global pandemic has created challenges for advisors and their clients that are unparalleled in our time, combining market volatility with significant and widespread business disruption.

Key Points: 
  • The impact of the global pandemic has created challenges for advisors and their clients that are unparalleled in our time, combining market volatility with significant and widespread business disruption.
  • Through the Advisor Resiliency Pack, new programs like Advisor on Demand and Stimulus Access Plan help advisors grow and enhance client engagement as well as manage their business operations through the impacts of COVID-19.
  • "The Advisor Resiliency Pack is a comprehensive suite of services to enable advisors to move forward in serving clients and developing business opportunities even in a period of great uncertainty.
  • "Cetera Financial Group" refers to the network of independent retail firms encompassing, among others, Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), Cetera Financial Specialists LLC, and First Allied Securities, Inc. All firms are members FINRA / SIPC.

Bank of America Commits $250 Million in Capital and $10 Million in Philanthropic Grants to Community Development Financial Institutions (CDFIs)

Monday, March 30, 2020 - 2:00pm

In addition, Bank of America will provide up to $10 million in philanthropic grants to help fund the operations of CDFIs.

Key Points: 
  • In addition, Bank of America will provide up to $10 million in philanthropic grants to help fund the operations of CDFIs.
  • The funding and grants announced today will be provided to CDFI loan funds and CDFI- and minority-owned banks.
  • Small businesses are the backbone of our communities, said Anne Finucane, vice chairman of Bank of America.
  • Last week, Bank of America announced a $100 million commitment to support local communities impacted by the coronavirus.

The Primerica Foundation Donates $175,000 to COVID-19 Relief Efforts

Friday, March 27, 2020 - 12:26am

Primerica, Inc. (NYSE:PRI), a leading provider of financial services to middle income families in North America, today announced that The Primerica Foundation has donated $175,000 to the COVID-19 relief efforts through grants to the U.S. Centers for Disease Control and Prevention (CDC) Foundation, American Red Cross, Community Foundation of Northeast Georgia and United Way of Greater Atlanta.

Key Points: 
  • Primerica, Inc. (NYSE:PRI), a leading provider of financial services to middle income families in North America, today announced that The Primerica Foundation has donated $175,000 to the COVID-19 relief efforts through grants to the U.S. Centers for Disease Control and Prevention (CDC) Foundation, American Red Cross, Community Foundation of Northeast Georgia and United Way of Greater Atlanta.
  • Primericas top priority is to protect the health and well-being of our clients, representatives, employees, and the communities where we live and work, said Kathryn Kieser, EVP, Chairman, and President of The Primerica Foundation.
  • Primerica, through its insurance company subsidiaries, was the #2 issuer of Term Life insurance coverage in North America in 2018.
  • The Primerica Foundation is the charitable arm of Primerica, Inc. with tax-exempt status under section 501 (c)(3) tax code.

Comerica Bank Supports Colleagues, Customers Impacted by COVID-19

Thursday, March 26, 2020 - 7:17pm

During this unprecedented time, we want to underscore our commitment to colleagues who continue to work from Comerica locations, whether in our banking centers or in critical operations roles," said Curt Farmer, Chairman and CEO, Comerica Incorporated and Comerica Bank.

Key Points: 
  • During this unprecedented time, we want to underscore our commitment to colleagues who continue to work from Comerica locations, whether in our banking centers or in critical operations roles," said Curt Farmer, Chairman and CEO, Comerica Incorporated and Comerica Bank.
  • Comerica is supporting its business customers who have been impacted by COVID-19 with various loan payment deferral and fee waiver options.
  • Comerica Incorporated (NYSE: CMA) is a financial services company headquartered inDallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management.
  • In addition toTexas, Comerica Bank locations can be found inArizona,California,FloridaandMichigan, with select businesses operating in several other states, as well as inCanadaandMexico.

USAA, The USAA Foundation, Inc. commit $2.3 million to military-focused and national nonprofits to support COVID-19 response

Thursday, March 26, 2020 - 3:46pm

SAN ANTONIO, March 26, 2020 /PRNewswire/ -- USAA and The USAA Foundation, Inc. have committed a total of $2.3 million to military-focused and national nonprofits to support America's response to the coronavirus pandemic.

Key Points: 
  • SAN ANTONIO, March 26, 2020 /PRNewswire/ -- USAA and The USAA Foundation, Inc. have committed a total of $2.3 million to military-focused and national nonprofits to support America's response to the coronavirus pandemic.
  • This support is in addition to the $2.1 million that USAA has directed to local nonprofits in USAA communities.
  • Previously, USAA announced a $1 million donation to five San Antonio-area nonprofits.
  • It also is providing an additional $1.1 million to nonprofits in Phoenix, Tampa, Colorado Springs, Dallas/Fort Worth and southeastern Virginia.

Platinum Tax Defenders Offers Tax Prep Discount as Federal Government Approves 90-Day Tax Payment Deadline and Works To Fastly Issue Tax Refunds

Wednesday, March 18, 2020 - 10:00am

To assist taxpayers who still need to file during this difficult time, Platinum Tax Defenders is currently offering a $50 discount on tax preparation.

Key Points: 
  • To assist taxpayers who still need to file during this difficult time, Platinum Tax Defenders is currently offering a $50 discount on tax preparation.
  • For individuals and businesses who are in need of tax preparation services, Platinum Tax Defenders is offering a $50 discount on their fee.
  • With enrolled agents, tax attorneys and certified public accountants, Platinum Tax Defenders is prepared to help any individual or business with their tax needs.
  • During the COVID-19 outbreak, Platinum Tax Defenders are doing their part to ensure their clients remain at on top of their tax obligations.

Principal to Host 2020 Investor Day on June 23, 2020 in New York City

Monday, March 9, 2020 - 12:30pm

Principal Financial Group (Nasdaq: PFG) announced today that it will host its 2020 Investor Day on Tuesday, June 23rd, at the Nasdaq MarketSite in New York City.

Key Points: 
  • Principal Financial Group (Nasdaq: PFG) announced today that it will host its 2020 Investor Day on Tuesday, June 23rd, at the Nasdaq MarketSite in New York City.
  • Dan Houston, chairman, president, and CEO of Principal, Deanna Strable, CFO, and other members of the executive team will provide an update on the company and the opportunities that lie ahead.
  • Principal helps people and companies around the world build, protect and advance their financial well-being through retirement, insurance and asset management solutions that fit their lives.
  • Principal, Principal and symbol design and Principal Financial Group are trademarks and service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

Kemper Receives Outstanding Balance of Arbitration Award

Monday, February 24, 2020 - 11:30am

Kemper Corporation (NYSE:KMPR) announced today that its subsidiary, Kemper Corporate Services, Inc., has received $89.4 million as satisfaction of the remaining balance due on a judgment related to a 2017 arbitration award against Computer Sciences Corporation (CSC).

Key Points: 
  • Kemper Corporation (NYSE:KMPR) announced today that its subsidiary, Kemper Corporate Services, Inc., has received $89.4 million as satisfaction of the remaining balance due on a judgment related to a 2017 arbitration award against Computer Sciences Corporation (CSC).
  • In January, the United States Court of Appeals for the Fifth Circuit affirmed a district court ruling that confirmed the arbitration award in favor of Kemper Corporate Services.
  • The remaining balance at December 31, 2019 was treated as a gain contingency for accounting purposes in Kempers 2019 consolidated financial statements.
  • Accordingly, Kemper will recognize a gain of $89.4 million in its first quarter 2020 consolidated financial statements related to the final payment.

Home BancShares, Inc. Beefs Up Marine Business Through Loan Portfolio Acquisition

Wednesday, February 19, 2020 - 10:15pm

Under the terms of the agreement, Centennial Bank will acquire approximately $405 million in LH-Finance loan balances from Peoples United.

Key Points: 
  • Under the terms of the agreement, Centennial Bank will acquire approximately $405 million in LH-Finance loan balances from Peoples United.
  • Upon completion of the acquisition, this portfolio of loans will be housed within Centennials Shore Premier Finance division (Shore).
  • Shore is a $517 million specialized marine lending division of Centennial Bank with a national platform for floor plan and retail loans.
  • Shore will be responsible for servicing the acquired loan portfolio and originating new loan production.

Nonprofit Finance Fund Speeds Development of Permanent Supportive Housing in Los Angeles with $10 Million Fund

Wednesday, February 19, 2020 - 6:00pm

LOS ANGELES, Feb. 19, 2020 (GLOBE NEWSWIRE) -- Permanent supportive housing is a proven approach to reducing homelessness, and in Los Angeles, Nonprofit Finance Fund (NFF) is speeding development of much-needed homes.

Key Points: 
  • LOS ANGELES, Feb. 19, 2020 (GLOBE NEWSWIRE) -- Permanent supportive housing is a proven approach to reducing homelessness, and in Los Angeles, Nonprofit Finance Fund (NFF) is speeding development of much-needed homes.
  • NFFs $10 million Accelerating Permanent Supportive Housing Fund provides flexible financing to support developers critical work increasing the number of projects in development.
  • Additional grants provided by CCF, CIT Bank, and the Community Development Financial Institutions Fund (CDFI Fund) support the project.
  • The Accelerating Permanent Supportive Housing Fund was launched to support a pre-identified group of housing developers.