JPMorgan, Wells Fargo tap high-grade bond market after earnings
The companies are both tapping the U.S. investment-grade primary market, kicking off a potential deluge of fresh bank bonds in the wake of second-quarter earnings.
Wall Street banks avoid trial in Illinois rate-fixing VRDO case
The group of banks would pay $68 million to settle the lawsuit, which originally estimated damages at $340 million.
FTC investigation of OpenAI scrutinizes AI data security
In a data breach at OpenAI, some ChatGPT users were able to see other users’ financial data. In other cases, users have invoked their dead grandmothers to access information that should have been sealed off.
Veteran community banker Mary Ann Scully to join Capital Bank’s board
Scully, who founded and then eventually sold Howard Bank, will help the Rockville, Maryland-based Capital expand its footprint in the Washington, D.C., metro area.
The impossible dream of defunding the CFPB through the Supreme Court
Republicans have urged the Supreme Court to gut the Consumer Financial Protection Bureau by tying its funding to appropriations. But regulatory experts say that a ruling against the CFPB would threaten the funding of other similarly-structured agencies including the Federal Reserve Board, the Farm Credit System and other regulators that are funded through fees or […]
SEC’s Gensler warns AI risks financial stability
Such concerns have taken on new importance with recent advances in artificial intelligence tools, which are “the most transformative technology of our time,” Securities and Exchange Commission Chair Gary Gensler says.
Countrywide co-founder Angelo Mozilo dies at 85
Known for his personal style and his support of affordable housing, the former MBA president also earned an ignominious distinction as the face of the Financial Crisis.
CFPB’s Chopra to work with European counterpart on digital regulations
Consumer Financial Protection Bureau director Rohit Chopra will engage in informal talks with Didier Reynders, the European Commission’s commissioner for justice and consumer protection, on artificial intelligence, buy now/pay later and digital payments.
Federal Home Loan banks don’t stifle the American dream. They enable it.
An executive with the Federal Home Loan Bank of Chicago pushes back on a BankThink article criticizing the Mortgage Partnership Finance program.
How Mastercard leans on open banking to expand its technology
Data-sharing runs through dozens of projects designed to generate revenue beyond the point of sale.