Framing Analysis
Truist Financial Corp. and Fifth Third Bancorp have paused distribution of Delaware Life products following a federal investigation into the reporting of approximately $20 billion in affiliated assets by the company's parent. The pause was first reported by Bloomberg and surfaced two days after TWG Global stated there had been no fraud at Delaware Life and Clear Spring Life and Annuity. Delaware Life continues to meet with the banks regarding existing contracts while reducing affiliated-party assets.