Bank of America is using AI and metaverse to train new hires
The move reflects a larger shift in the banking sector, as firms develop technology to enhance performance and cut down costs.
Nicholas Hungerford, co-founder of Nutmeg, dies at 43
The U.K. entrepreneur died from a rare form of bone cancer, which he was diagnosed with at the start of 2020.
Mediation fails to resolve thrift’s lengthy dispute with activist investor
With no settlement in sight, Spencer Savings Bank’s case against a group of former depositors it says conspired with Larry Seidman to force a conversion appears headed for a courtroom battle.
Treasury taps sanctions expert Andrea Gacki to lead Fincen
Gacki, who has served since 2019 as director of Treasury’s Office of Foreign Assets Control, will replace acting Fincen Director Himamauli Das. Her appointment comes as the Biden administration seeks to enforce sanctions against Russia and implement rules aimed at identifying undisclosed shell company owners.
St. Louis Fed President Bullard steps down
The longtime chief executive of the Federal Reserve Bank of St. Louis will leave his post after 15 years to take an administrative position at Purdue University.
Here’s how the White House’s cyber initiatives could affect banks
The implementation plan the Biden administration released on Thursday seeks to shift liability for data breaches onto “the biggest, most capable” entities. Does that mean banks?
Top Wall Street banks set to give sleepy bond market a boost
The six biggest banks in the U.S. are expected to sell between $28 billion and $32 billion of new bonds after they report quarterly earnings, and regional banks — seeking to raise more capital — could be right behind them.
Bank groups urge Fed to take its time with upcoming capital proposal
Five organizations representing large banks sent a letter to Federal Reserve Chair Jerome Powell requesting a long and thorough public review process for rule changes that are expected to be rolled out this summer.
Ripple tokens sold to public are not securities, judge says
A federal judge ruled that the Ripple Labs token is a security when sold to institutional investors but not the general public, a long-awaited decision that was widely hailed as a victory for the crypto industry over the SEC.
Ex-Celsius CEO Mashinsky charged in latest DOJ crypto case
Prosecutors claim that from 2018 through June 2022, Mashinsky “orchestrated a scheme to defraud customers of Celsius Network LLC and its related entities,” according to the indictment unsealed Thursday.