What if Jack Dorsey’s right about AI and jobs?
The Block CEO said companies will need fundamentally fewer workers in the AI age. The question is, how many fewer?
Fed’s Bowman sets her sights on discount window reform
Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Tuesday that the central bank is considering a “fundamental reform” of the discount window, including streamlining rules and processes across the Fed system.
Regulators need to prepare for a more diverse monetary ecosystem
If the next phase of digital money policy is to succeed, it must grapple with a simple truth: People do not experience money through legal categories. They experience it through use. That’s a fact that supervision must account for.
Banks face ‘heavy lift’ in Trump’s potential citizenship EO
Experts say that compliance with a potential executive order being considered by the White House that would require banks to collect citizenship information would be costly, especially for community banks.
Amy Brady, KeyCorp’s longtime CIO, resigns from the bank
Brady, Key’s chief information officer since 2012, resigned Monday due to “personal health considerations,” the Cleveland-based bank said in a securities filing. Chief Financial Officer Clark Khayat will assume her duties.
Ohio-based Civista names the successor to its retiring CEO
Charles “Chuck” Parcher will replace Dennis Shaffer as president and CEO of the Sandusky, Ohio-based community bank. Shaffer is set to retire in late August.
Iran war brings urgency to fintechs’ sanctions compliance
Experts say regulators will be looking more closely at know-your-customer compliance in the wake of U.S. strikes on Iran.
SBA’s new eligibility rules expected to funnel loans to nonbanks
As the Trump administration limits access to only U.S. citizens, volume in the Small Business Administration’s flagship loan program is already trailing the 2025 pace. Experts predict that the tighter eligibility criteria will send more loans to nonbanks.
Is Block the first domino for AI-spurred layoffs?
Block last week cut 40% of its staff and attributed the layoffs to artificial intelligence, leaving many to wonder whether Jack Dorsey’s payments company was a bellwether for widespread AI-driven layoffs, or a one-off.
Bank of America makes a move as rewards race heats up
With the likes of Amex and JPMorganChase upgrading card perks, BofA is expanding no-fee access to more customers and products and adding incentives.