Maybe Wells Fargo’s unions need a blockchain
Unionization efforts at several Wells Fargo locations go in reverse, while the buzzy blockchain stuff overshadows the plain fact that customers want products that help them rather than gee-whiz technology.
More Americans asking AI for financial advice: TD survey
A TD Bank survey found a massive increase in the ranks of people who talk to ChatGPT about their finances. Ted Paris, the bank’s head of AI, says banks still have an opportunity here.
Union decertification efforts at Wells Fargo gain steam
Employees at two of the 28 Wells branches where workers previously voted to unionize are now shedding union representation.
Why banks must treat quantum threats as a present risk
Cybersecurity experts at RSAC urged banks to treat the transition to post-quantum cryptography as an enterprise risk, not just an IT headache.
Former Flagstar chairman to step down from board of directors
Alessandro DiNello, who served as Flagstar’s executive chairman in 2024, said he’s leaving in order to enjoy his retirement. Meanwhile, a lawsuit accusing him of various wrongdoings is still pending.
Trump admin rule would open 401(k)s to riskier investments
The Department of Labor proposed a rule that would bring private credit more into retirement accounts, as pockets of the market bubble up and some point to contagion.
U.S. Bank extends loan terms in bid to address affordability
The Minneapolis-based regional bank is extending home-improvement loan durations by as much as two years in a bid to continue capitalizing on a long-running remodeling boom.
Ginnie Mae gives issuers a break, adds new prepayment data
The government MBS guarantor ended a 15-day advance notice mandate for extensions on a filing deadline so those with a March 31 due date can still ask for one.
Mortgage industry baffled by Trump’s MLO order
A section of Trump’s executive order on mortgage credit called for eliminating requirements for loan officer registration, a process industry experts say has never been considered a burden.
Powell says Fed cautious as Iran war drives inflation risks
Federal Reserve Chair Jerome Powell said the central bank is cautiously monitoring consumer sentiment as tensions from the Iran war push energy prices higher, complicating efforts to bring inflation down to the Fed’s target.