Eliminating reputational risk oversight was a regulatory mistake
The Office of the Comptroller of the Currency’s decision to remove reputational risk from banks supervision plans means that one of examiners’ most effective tools has been stripped away.
HSBC’s return-to-office push risks denting plan for savings
Chief Executive Officer Georges Elhedery was aiming for $1.5 billion in annual cost savings, but HSBC is forecasting hundreds of millions in extra real estate costs as it considers asking more of its employees to work from an office.
What bankers need to know ahead of the 2025 stress tests
Analysts are predicting stronger results this year after a disappointing outcome in 2024.
What I found at Fintech Innovation Lab’s Demo Day
There were some intriguing ideas at the event, but whether they’ll take off remains to be seen.
MoneyGram settles with NY AG, Klarna gets into telecom biz
New York’s attorney general announces MoneyGram will pay a civil fine to settle a lawsuit over its handling of remittance payments; Swedish buy now/pay later lender Klarna is getting into the telecom business; Truist Financial has hired Charles Alston to lead its new nonprofit hospital, higher education and government banking team; and more in this […]
Top Treasury official wants to ‘Americanize’ any Basel rule
Deputy Treasury Secretary Michael Faulkender says Basel capital rules need to fit the U.S. economy and avoid discouraging banks from lending.
Artificial intelligence, blockchain drive payment startups
From AI to crypto to the fraud fight, the industry is rapidly evolving; these young companies are looking to take advantage.
NJ bank mourns death of longtime CEO Gerald Lipkin
Lipkin, who built Valley National Bancorp from a small community bank into a regional institution with 200 branches in four states, passed away this week at age 84.
Market volatility has not cut valuations: Fed report
Financial markets were shaken but not stirred this past spring, according to the Federal Reserve, as swinging stock prices and bond yields did little to bring down elevated asset prices or leverage.
Fintech startups offer banks tools to harness agentic AI
The fintechs at this year’s NYC Innovation Lab highlighted the demand for new forms of artificial intelligence in financial services.