Fidelity has been under fire for its FundsNetwork 401(k) offering. The FundsNetwork is where various mutual funds, affiliates of mutual funds, mutual fund advisors, sub-advisors, investment funds, including collective trusts,...more
My local school board is run by a clique who see nothing wrong that some of their children got hired by the school district, hiring decisions approved by the board (minus the parent who abstains). The board and their minions...more
Fidelity is being sued again, this time regarding payments made by mutual funds to the Fidelity FundsNetwork. It is alleged that these payments are a kickback and a replacement for revenue sharing....more
I have always been concerned about the use of proprietary funds, especially belong to mutual fund companies and their use in their own 401(k) plans because they’re ripe to be a target for a class action lawsuit. Fidelity...more
On January 16, 2014, the CFPB issued a Consent Order resolving a claim that Fidelity Mortgage Corporation (Fidelity), a mortgage lender, and its president, Mark Figert, violated RESPA Section 8 by paying illegal kickbacks to...more
Under the antitrust merger guidelines, a maverick is a firm “that plays a disruptive role in the market to the benefit of customers.” In Washington political circles, a maverick often refers to a politician that does not hew...more
A Georgia federal district court ruled on August 7th that a bank was not entitled to insurance coverage for class action claims based on its allegedly excessive overdraft fees....more