The Association for Financial Professionals (AFP) has expressed its support of the Business Checking Freedom Act (H.R. 1009), which would eliminate an outdated banking law that prohibits banks from paying interest on business checking accounts. Such restrictions also make commercial banks less competitive in serving the financial needs of many business customers. Some banks sweep sterile checking account funds on a daily basis to money market deposit accounts or other earnings instruments. These systems are cumbersome and costly for smaller banks and savings institutions to operate, which in turn, can impede their ability to compete for business checking accounts. Small businesses also may find it difficult to obtain the benefits of efficient use of funds often available to larger and more sophisticated businesses.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.