AI is learning and teaching finance. Who will teach it values?
If we allow algorithms to inherit yesterday’s incentives — maximizing return, minimizing empathy — then tomorrow’s system will be flawlessly efficient at reproducing inequality.
True crime, fake romance: Inside one victim’s fight with banks
Five major U.S. banks are engaging in costly litigation rather than reimburse fraud claims of a 72-year-old dementia patient who lost $337,000 in a romance scam. The victim’s lawyer says banks are not abiding by the consumer protection process.
What do banks owe victims of romance scams?
Romance scams and other “pig butchering” frauds are growing rapidly. Should banks refund the stolen money? Not all agree on the answer to that question.
Fed’s Bowman views Kraken approval as ‘pilot program’
Federal Reserve Vice Chair for Supervision Michelle Bowman played down the significance of Kraken Financial receiving a master account, saying the central bank is treating it as a pilot program.
Press Release: Agencies Clarify the Capital Treatment of Tokenized Securities
PRESS RELEASE | MARCH 5, 2026 Agencies Clarify the Capital Treatment of Tokenized Securities WASHINGTON – The federal bank regulatory agencies today jointly issued answers to frequently asked questions to clarify the capital treatment of tokenized securities. A security is often referred to as “tokenized” when ownership rights in the security are represented using distributed […]
Oil price shock pushes mortgage rates back above 6%
While this only shows a 2-basis-point rise in the 30-year fixed since last week, the Lender Price product and pricing engine data is 30 basis points higher.
Wells Fargo fully sheds Fed’s massive 2018 enforcement order
The bank exited the $1.95-trillion asset cap last year, but it had remained subject to the rest of the eight-year-old order.
Iran war pressures accelerate for banks and payments
Panelists at a JPMorganChase webinar said oil shipping security is shaky, creating risk of a new wave of inflation that would impact energy finance. Other analysts said the war will create pressure for some parts of the payments industry.
Fintech giant Revolut pursues US bank charter
With an application for a U.S. bank charter, the global super app provider aims to expand its offerings and compete with established domestic challengers.
A community-bank director quits with a parting blast
Glen Herrick, a veteran bank director, penned a resignation letter criticizing the West Virginia company’s executive-compensation policies and what he described as a failure to focus on core profitability.