Bank of America, JPMorganChase execs report returns on AI
A new research report this week found AI could ‘unlock’ $370 billion in profits for banks, though they’re not yet ready to capture it. But big-bank executives say they are already seeing measurable results from their generative and traditional AI investments.
Amerant parts ways with CEO after problem loans spike
Jerry Plush had helmed the South Florida-based bank for nearly five years before agreeing to depart this week. News of the leadership change comes little more than a week after Amerant reported a 43% increase in nonperforming assets.
Fed Gov. Barr says AI may cause ‘dislocations’ in labor force
Michael Barr said he believes artificial intelligence will have a positive long-term impact on the economy, though it may cause job losses in the short term.
Community banks are vital to the economy; lawmakers should act like it
Policymakers must avoid looking at community banks as institutions of the past that no longer have a place or function in our financial system and stop prioritizing large banks and technology companies.
Fed says banks are well managed even with a deficient rating
The Federal Reserve Board finalized changes to its supervisory rating framework, allowing large bank holding companies to be considered “well managed,” even with one deficient rating.
Agentic AI will shake up chargebacks. What banks need to know.
As the emerging form of artificial intelligence impacts payments, pace of payment disputes and the workload will change.
Kenneth Kelly, new ABA chair, to focus on developing leaders
The chairman and CEO of First Independence Bank in Detroit is the new chairman of the American Bankers Association. He said his extensive involvement in industry advocacy roles over the past eight years has made him a better leader.
White-label stablecoins are the next evolution of money
Noelle Acheson looks at what the outsourcing of stablecoin issuance means for the GENIUS Act, and for our understanding of money.
As auto delinquencies rise, CFPB seeks to cut oversight
The Consumer Financial Protection Bureau is considering a proposal to reduce its oversight of auto finance lenders, saying the benefits of supervision may not justify the “increased compliance burdens.”
Another bank tried to buy Comerica before Fifth Third deal
A regulatory filing Wednesday sheds more light on how the megamerger came together. It also details the compensation arrangements for Comerica CEO Curtis Farmer, who will become Fifth Third’s vice chair.