How much personality should a bank give its bot?
U.S. Bancorp and Truist picked literal names for their virtual assistants to avoid confusing customers, while Fifth Third and Regions created characters called “Jeanie” and “Reggie” to put clients at ease. Other companies are trying to split the difference.
The Supreme Court is done talking about the CFPB
The high court heard what is likely the last realistic judicial attempt to assert that the Consumer Financial Protection Bureau is structurally unconstitutional. It didn’t go well for the plaintiffs.
Why Visa is investing in artificial intelligence startups
The payments company launched a $100 million fund for generative AI, creating a potential group of partners that can build on the card network’s global scale.
Supreme Court skeptical of CFPB funding challenge
In a case challenging the funding of the Consumer Financial Protection Bureau, justices across the political spectrum questioned where — and whether — the Constitution placed limits on Congress’ power to delegate funding for federal agencies outside of annual appropriations.
PNC becomes the latest bank to take advantage of regional bank failures
In a deal arranged by the Federal Deposit Insurance Corp., the Pittsburgh bank has bought a portfolio from the wreckage of Signature Bank. The purchase should help PNC expand its fund banking business, which helps private equity firms manage liquidity and finance investments in the short term.
Employee financial wellness is at an all-time low, Bank of America finds
Employees are still struggling with their financial obligations, and less than half feel good about their financial situation.
Banks lagging behind on real-time payments are making a mistake
FedNow and RTP are only going to get better and more efficient as they become interoperable and develop new use cases. It’s time to get on board.
Ashley Petgrave encourages social expansion: Young Women’s Leadership Award
The Queens, New York, student inspires change by leading conversations and providing safe spaces.
Jena Kim inspires giving back: Young Women’s Leadership Award
The first-year Posse Scholar at Smith College combines her passions for business and community service to give back.
Truist’s board size reduction could give the CEO more control
The North Carolina company is cutting its board of directors by more than a third, using a combination of retirements and early departures. The move means that a majority of board members will come from the predecessor company SunTrust Banks, which may give CEO Bill Rogers more leeway to make changes.