BofA and PNC respond to rising AI fears
Banks have embraced artificial intelligence for years. Now, after a week of dire warnings about the technology’s risks, executives at two big banks are calling for caution and calm.
IMBs need to watch HELOC securitization costs as banks enter
More depositories are getting involved in the securitized market and the competition is likely to add to expense management challenges of smaller balance loans.
Synchrony CFO: Consumers ‘incredibly responsible’
Consumers’ spending and payment behaviors were “holding very firm” despite inflationary pressures, Synchrony Chief Financial Officer Brian Wenzel said at the Barclays Global Financial Services Conference.
Sen. Warren probes private equity’s bet on life insurers
Sen. Elizabeth Warren sent a request for information to the National Association of Insurance Commissioners about state regulators’ efforts to address private equity ownership of life insurance companies.
How emotional hangups hinder advisor succession planning: Edward Jones
Advisors are still slow to plan for handing down their businesses, in part because of difficulties finding new owners they can trust.
11 ways banks can counter the threat of AI agent swarms
Recent analyses found non-malicious AI agents can “think,” emote and launch attacks unprompted. There are several things banks should do to protect themselves.
The high-end card changes that are challenging banks
Increased costs, a limited consumer pool and churn are pressuring the financial institutions that are competing in the luxury card market.
New crypto bill looks at stablecoin yield, but passage still unlikely
Republicans released a new version of the crypto bill ahead of a scheduled vote. But even with the changes, Democrats have little incentive to offer support.
Bad information about stablecoin rewards is running rampant
Parties trying to restrict stablecoin rewards have been relying on a trio of false claims that, despite public debunking, continue to be spread. At some point, the repetition of fake talking points begins to look purposeful.
Banking has an AI blind spot: the human intelligence gap
Banks are racing to adopt artificial intelligence while often de-emphasizing basic banking education — human intelligence — at the new employee, executive, and board levels. That’s a recipe for disaster.