Insurers likely to exclude gen AI, startups wait in wings
A commonly used standard for property and casualty insurance will offer a carve-out for generative AI liability starting in January. Startups like Testudo, Vouch and Armilla AI stand by to scoop up that business.
Mastercard makes agentic AI a star of its services strategy
During Thursday’s earnings call, CEO Michael Miebach said the payment company is partnering with large technology firms and offering consulting for the emerging form of artificial intelligence, attempting to expand a strategy to draw revenue beyond card processing.
Kennedy threatens ‘no’ vote for Hill over workplace scandal
Sen. John Kennedy, R-La., asked acting Federal Deposit Insurance Corp. Chair Travis Hill, who has been tapped to lead the agency permanently by President Trump, for a report within 30 days about progress made in the agency’s sexual harassment scandal, saying his vote is contingent on that report.
Behind the cover shoot for The Most Powerful Women in Banking 2025
Honorees gathered at Tiffany’s Landmark building in New York City, where American Banker interviewed them about the industry’s trajectory and leadership lessons they’ve learned in their careers.
Consumers urge CFPB to protect data in open banking plan
In comment letters on the Consumer Financial Protection Bureau’s new rulemaking on personal financial data rights, consumers begged the agency to protect their data from misuse.
JPMorgan’s move on crypto collateral is a watershed moment for banks
Reports that JPMorgan is planning to allow the use of crypto collateral against loans are good news for the crypto market. But Noelle Acheson argues that it’s even better news for bank lending.
Madoff Ponzi scheme haunts HSBC, which faces $1 billion hit
A Luxembourg court ruled against the bank in a long-running lawsuit tied to its custodial role for a fund that invested in the massive Ponzi scheme.
Fed’s rate cut trajectory unclear as dueling dissents emerge
The Federal Open Market Committee voted to reduce interest rates by 25 basis points Wednesday, but the emergence of dissents on the committee makes the chance of another quarter-point cut in December less certain.
UMB shows growth and growing pains as it absorbs Heartland
Nine months after acquiring Heartland Financial, Missouri’s largest bank posted a complicated quarter.
Small businesses’ must-haves: Speed, simplicity, capital
American Banker’s 2025 Small Business Banking conference yielded lessons about the need for speed, simplicity and safety in small-business lending. Other key takeaways included the significance of digital payment options and the importance of continuing to process SBA loan requests during the government shutdown.