Affirm’s Max Levchin teases generative AI plans
The fintech’s CEO told analysts during Thursday’s earnings call that generative AI was taking search by storm and that investors “should absolutely expect us to have an answer for that.”
More consumers expect to fall behind on debts, survey shows
Average Americans are souring on their own financial health, according to a New York Fed survey. That includes their ability to pay off their debts.
Senate passes CRA resolution on OCC merger rule
The Congressional Review Act resolution to overturn the Office of the Comptroller of the Currency’s rules on bank mergers passed 52-47.
Stablecoin bill fails procedural vote as Democrats back out
The vote to invoke cloture on the Senate’s stablecoin bill failed 48-49, delaying the final passage of the crypto legislation.
How banks can fight increasingly sophisticated scam tactics
Experts warn that stopping modern scams requires more than AI. It takes human oversight, customer engagement, and cross-industry collaboration.
Texas Capital to add investment bank offices in LA, Chicago
The Dallas-based company’s broker-dealer arm, Texas Capital Securities, has also made several recent hires as it continues to expand its capabilities.
Teachers Federal Credit Union joins AI-based lending trend
Customers expect fast loan approvals, CEO Brad Calhoun says, so the credit union now lets artificial intelligence decide who will get credit cards, auto loans and personal loans.
Dave beats Q1 earnings estimates, raises 2025 outlook
The neobank reported a 47% increase in revenue in the first three months of the year.
The banking industry isn’t ready to fight AI-enabled deepfakes
The industry and its regulators need to acknowledge the danger presented by ultrarealistic deepfake technology and implement new layers of transaction authentication.
David Julian, ex-Wells Fargo exec who battled OCC, sounds off
Julian, the bank’s onetime audit chief, recently agreed to settle with the Office of the Comptroller of the Currency for a tiny percentage of the $7 million the agency had been seeking. In an interview, he spoke about the expensive legal fight and who bears responsibility for the bank’s fake-accounts scandal.