The Federal Reserve approved TD’s merger with Scottrade, according to a press release. TD Ameritrade and its largest stakeholder, Toronto-Dominion Bank, agreed to buy Scottrade Financial Services for $4 billion last October, combining two of the largest online brokerages while expanding the U.S. operations of Canada’s second-largest lender. ... Retirement Account Withdrawal Penalty Suspended for Irma Victims The IRS announced it will suspend the early withdrawal penalty applied to qualified employer plans, such as 401(k)s, for victims of Hurricane Irma. ...
Another JPMorgan Executive Sounds off on Bitcoin Another top employee at JPMorgan Chase has expressed concern about bitcoin. The global head of the bank's quantitative strategy, Marko Kolanovic, said cryptocurrencies as a whole had "some parallels to fraudulent pyramid schemes," according to Business Insider. ...
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