Banking & Financial Services News

Banking & Financial Services

With May Approaching, Pump Prices Stick to the Slow Lane

WASHINGTON, D.C. (April 25, 2024)—With domestic gasoline demand decidedly in the doldrums and the cost of oil retreating, the national average dipped two cents since last week to $3.65.Andrew Gross, spokesperson for AAA, noted, "Domestic gas demand is pretty pokey at the moment, which is often the case in the runup to Memorial Day and the traditional start of summer driving season."Gross also added, "The recent national average price of $3.67 could be the peak until hurricane season is well underway. But as always, the wildcard will be the cost of oil, so stay tuned."...
Banking & Financial Services

Fast on the Freeway Can Lead to Fury on the Side Streets

Washington, DC (April 25, 2024) – Raising speed limits on highways could lead to more crashes on nearby roads, according to new research by the AAA Foundation for Traffic Safety. Dr. David Yang, president and executive director of the AAA Foundation, emphasized this point by stating, “Increasing posted speed limits on freeways may improve traffic flow but could also lead to safety concerns in adjacent communities once speeding drivers proceed to neighboring roadways.”The study conducted by AAA Foundation researchers focused on the impact of speed limit changes on...

Latest News


Banking & Financial Services

Nationwide Launches Dynamic Default Feature to Accelerate Adoption of In-Plan Protected Retirement Solutions

Nationwide has announced the launch of its Dynamic Default feature, aimed at speeding up the adoption of in-plan protected retirement solutions by allowing plan sponsors to automatically default participants into a protected retirement solution. Eric Stevenson, President of Nationwide Retirement Solutions, stated, "We’re really starting to see a lot more employers become more comfortable offering protected retirement solutions, and we believe offering them through dynamic default will be the next generation of retirement plan auto features."The implementation of the...

Banking & Financial Services

Morgan Stanley Names 10 Women and an Ally as their MAKERS Class of 2024

Morgan Stanley Wealth Management has announced the 2024 MAKERS Class, a group of 11 outstanding professionals dedicated to advancing women and breaking barriers within the firm. Jed Finn, Head of Wealth Management at Morgan Stanley, expressed the importance of celebrating leaders committed to supporting women, mentoring, and driving positive change. He stated, "At Morgan Stanley, we believe it’s important to share and celebrate the stories of our leaders who are committed to advancing women, mentoring and breaking barriers. The MAKERS program, a powerful tradition at our...

Banking & Financial Services

Nationwide Catastrophe Response Unit Deployed to Rock Hill, SC for Vehicle Damage Assessment

A Catastrophe Response Unit (CRU) is being deployed to Rock Hill, SC, to setup a temporary drive-in for vehicle damage assessment and will offer appointments every 30 minutes. This initiative aims to streamline the assessment process for customers affected by recent events in the area.Customers who have already filed a claim and wish to schedule a drive-in appointment can contact their claim representative to discuss inspection options. This personalized approach ensures that individuals can easily access the support they need during this challenging time."Our Claims...

Banking & Financial Services

Graystone Consulting Receives Third Consecutive Quality Leader Designation from Coalition Greenwich

Graystone Consulting, a business of Morgan Stanley, has once again been recognized for its excellence in the financial services industry. The company announced that it has been named a Quality Leader for the third consecutive year by Coalition Greenwich in Overall U.S. Investment Consulting among large consultants.Jeremy France, Head of Institutional Consulting Solutions at Morgan Stanley, expressed his pride in the achievement, stating, “Our clients are at the heart of Graystone, and we focus on bringing them the best of what our organization offers – boutique-level...

Banking & Financial Services

The Future of Insurance podcast: Chetan Kandhari

Nationwide Chief Innovation and Digital Officer Chetan Kandhari recently addressed the key questions surrounding innovation in the insurance industry. In a podcast episode titled "The Future of Insurance," Kandhari pondered, "How does a Fortune 100 company innovate in a highly regulated industry? And where, and where doesn’t it, make sense to implement generative artificial intelligence?"Kandhari's insights shed light on Nationwide's strategic approach to innovation in an industry known for its stringent regulations and traditional practices. The discussion delved into...

Banking & Financial Services

Resilient Waters Fund Wins the 2024 Kellogg-Morgan Stanley Sustainable Investing Challenge

The Resilient Waters Fund team from the University of Utah's David Eccles School of Business emerged as the winners of the 14th annual Kellogg-Morgan Stanley Sustainable Investing Challenge. Their proposal to save Utah's Great Salt Lake earned them the top prize of $10,000. The fund aims to protect the Great Salt Lake by catalyzing funds through a creative land trust mechanism, promoting irrigation efficiency, responsible cropping, and water savings.Jessica Alsford, Morgan Stanley’s Chief Sustainability Officer and CEO of the Institute for Sustainable Investing,...

Banking & Financial Services

Nationwide Honors Innovators Behind 55 Patents and Counting

Nationwide, a Fortune 100 insurance and financial services mutual, recently celebrated the achievements of its innovative employees who have been actively inventing and patenting novel solutions. The company recognized 39 Nationwide inventors at the inaugural Nationwide Patent Award Ceremony, acknowledging their combined 55 patents and 21 patents pending from the U.S. Patent and Trademark Office.“Invention is the most important product of man’s creative brain,” wrote Nikola Tesla, emphasizing the significance of innovation in shaping the world. Tesla further highlighted,...

Banking & Financial Services

Business Life Insurance Solutions for Turbulent Times

In a recent podcast, Nationwide Chief Economist Kathy Bostjancic and Nationwide Business Solutions Group Vice President Jessica Dowdy discussed how business life insurance can assist business owners in navigating the challenges of the current economic and labor markets. Dowdy highlighted the importance of solutions like corporate-owned life insurance (COLI) and bank-owned life insurance (BOLI) in addressing these issues.Dowdy emphasized the impact of the COVID-19 pandemic on business owners, stating, “Business owners are still reeling from the impacts of COVID, facing...

Banking & Financial Services

Is the Recent Climb in the Price of Gas About to Stall?

WASHINGTON, D.C. (April 18, 2024) - Lackluster domestic demand for gasoline paired with decreasing oil prices led to the national average for a gallon of gas climbing just four cents to $3.67 since last week. With tensions running high over the past three weeks in the Middle East, the cost of oil reached the upper $80s per barrel. However, it has since fallen several dollars into the low $80s as the oil market watches to see if any further military actions occur."The situation overseas with war in both the Middle East and Ukraine has the oil market on edge," said Andrew...

Banking & Financial Services

Morgan Stanley Wealth Management Pulse Survey Reveals Bullish Sentiment Despite Drop in Optimism

Morgan Stanley Wealth Management today announced results from its quarterly individual investor pulse survey, revealing that despite a drop in optimism, bullish sentiment remains strong among investors. According to the survey, three out of five investors (60%) are bullish this quarter, consistent with the previous quarter.Chris Larkin, Managing Director, Head of Trading and Investing at E*TRADE from Morgan Stanley, commented on the market trends, stating, “The US stock market is coming off one of its strongest first quarters of the past 20 years, and so it should not be...

Banking & Financial Services

Allstate Announces March and First Quarter 2024 Catastrophe Losses and Implemented Rates

NORTHBROOK, Ill., April 18, 2024 – The Allstate Corporation (NYSE: ALL) released information regarding their March and first quarter 2024 catastrophe losses and implemented rates.According to the Allstate Corporation, the March month catastrophe losses totaled $328 million or $259 million after-tax. These losses stemmed from six events, with the majority of the losses, approximately 80%, attributed to one hail event. These losses were partially offset by favorable reserve reestimates for prior events.The total catastrophe losses for the first quarter of 2024 amounted to...

Banking & Financial Services

Allstate Customers Using Safe Driving App Have 25% Fewer Severe Collisions

NORTHBROOK, Ill., April 17, 2024 – Allstate customers who opt into the Allstate app's safe driving features are experiencing a significant decrease in severe collisions. According to Allstate and its mobility data and analytics partner Arity, those who choose to use Drivewise are 25% less likely to have a severe collision than those who don't. Driving behavior research from Arity also indicates that Drivewise customers exhibit safer driving habits compared to other connected drivers, handling their phones less, speeding less, and hard braking less by as much as 44%.Ginger...

Banking & Financial Services

Peter Pan Pups: Unveiling Lifelong Health Risks in Canine Breeds with Persistent Puppy Behaviors

Nationwide's Chief Veterinary Officer, Dr. Jules Benson, recently analyzed data from more than 22 million pet insurance claims to unveil some surprising trends regarding certain dog breeds. Dr. Benson noted that some breeds, known as "Peter Pan pups," retain puppy-like behaviors well into their mature and senior years, which can lead to specific health risks.Dr. Benson stated, "Some dog breeds continue to submit claims for what we might think of as ‘silly puppy’ conditions – including trauma, foreign body ingestion, and toxicity – well into their mature and even senior...

Banking & Financial Services

Nationwide Announces 2024 Wacky Pet Names Winners

Nationwide has announced the winners of the 2024 Wacky Pet Names campaign. According to Nationwide, "Congratulations to Molly from Corporate, Tony “Scarface” Baloney and Thor Odinbun, God of Bunder for their first-place finishes in the dog, cat and exotic pet name categories, respectively."The annual competition by the nation’s pet health insurance leader recognizes the most unique and clever names among its roster of over 1.2 million protected pets. The top 10 wackiest dog, cat, and exotic pet names were put to a public vote that ran from April 9-12.In celebration of...

Banking & Financial Services

Morgan Stanley Reports First Quarter 2024

Morgan Stanley Reports First Quarter 2024Morgan Stanley has announced that a conference call to discuss the results of the first quarter of 2024 will be held on April 16, 2024, at 9:30 a.m. (ET). The call will be available both live and on-demand via webcast on their website in the Investor Relations section.In a statement, Morgan Stanley emphasized the importance of respecting the copyright of their presentation, stating, "IMPORTANT INFORMATIONThis presentation by Morgan Stanley is copyrighted and proprietary, and all rights are reserved. Any recording, rebroadcast or...

Banking & Financial Services

Tech Thwarts Flames, Averts Catastrophe

Thomas, a member of his local fire department, recently shared his experience with a Ting electrical fire monitoring device that detected an electrical problem in his home. According to Thomas, "The detection of an arching problem, when electricity 'jumps' across a tiny gap in a connection, was discovered by this device and allowed for immediate action to take place."Ting, a device that monitors the electrical network of a home, has been successful in preventing potential fires. It has detected over 500 fire hazards and alerted homeowners before a fire ignites, as...

Banking & Financial Services

Younger Travelers Driving Surge in Live Event Travel, Survey Shows

COLUMBUS, OH (April 16, 2024) – A new study conducted by AAA and Bread Financial has revealed that younger generations are significantly impacting the landscape of live event travel. According to the survey, approximately three in five Gen Z and Millennial respondents have either traveled or plan to travel for in-person events like concerts, sporting events, comedy shows, and book readings that are more than 50 miles from home.The study found that younger travelers are willing to go the extra mile, with more than half of Gen Z travelers opting for plane travel and a...

Banking & Financial Services

Get ready for the NFL Draft with Peyton Manning

NFL Hall of Famer Peyton Manning is stepping into a new role to help upcoming NFL Draft prospects prepare for the big night. In Nationwide's latest ad campaign titled "Draft Night Drills," Manning is using his experience as the 1998 NFL Draft #1 pick to guide draftees through various scenarios they may encounter.The campaign, which includes a 30-second commercial, showcases Manning coaching fictional prospects on essential aspects of Draft night, such as selecting the perfect outfit and mastering the art of embracing the commissioner. Reflecting on this initiative,...