Fed’s Miran: ‘No point in getting to neutral slowly’
Federal Reserve Gov. Stephen Miran reiterated his view that monetary policy has become more restrictive than economists think, but expressed increased urgency that the central bank take strong corrective action.
CFPB transfers enforcement to DOJ, furloughs some staff
The Consumer Financial Protection Bureau plans to transfer its entire enforcement and legal divisions to the Department of Justice and will furlough almost all staff in those units, according to sources briefed by agency leadership.
Citi shuffles leaders, revamps retail biz as CFO plans exit
The megabank laid out a series of changes, including the impending departure of its CFO and other executive changes related to a revamp of its U.S. personal banking line of business.
How to apply for the Best Places to Work in Fintech 2026
American Banker and Best Companies Group are preparing the latest annual ranking of fintech companies that keep their employees happy.
Truist insider and postal worker sentenced in fraud ring
Investigators found text messages, photos of cash and a conspirator wearing a diamond Truist logo ring while unraveling the $1 million fraud attempt.
Banks plead for federal guidance as penny shortage spreads
Supplies of the one-cent coin are plummeting. Businesses can’t give exact change. Banks are struggling to resupply them. And amid it all, the federal government has said almost nothing.
Banks face challenges ahead of Saturday’s ISO 20022 deadline
The migration to the standard and its more robust data is underway, but experts say the desired reduction in payment errors will come slowly.
Fed’s Cook sees risk in gen AI-manipulated financial trading
Federal Reserve Gov. Lisa Cook, citing several studies, outlined her concerns Thursday that generative AI could be used to manipulate markets, and regulators have not yet thought through how to police such activity.
How Citi, Citizens, TD deploy AI agents without upsetting humans
Reskilling and giving AI the boring work are two approaches banks take to making agentic AI palatable to workers who may fear that bots will take their jobs.
FICO upgrades its cashflow-powered score with real-time data
The credit score firm partnered with Plaid to bring additional cashflow data into its previously released UltraFICO score.