Amex recruits its next chief risk officer from US Bancorp
Jodi Richard, who has been U.S. Bancorp’s risk chief since 2018, will oversee American Express’ global risk organization. The hire comes as Amex deals with anti-money-laundering compliance penalties.
ICE execs brush off spinoff talk amid mortgage challenges
The mortgage technology unit of Intercontinental Exchange also said in an earnings call that it will allow customer AI agents access through a new protocol.
Hassett sees Fed acting if October inflation data come in high
Hassett was speaking shortly after the latest PCE inflation report showed that core price gains, which exclude food and energy, clocked a 3.1% year-on-year pace for September.
Watch spreads, not the Fed, for mortgage rate shifts
Concerns regarding AI companies’ ability to handle inflation drove the 10-year Treasury under 5%, but with data still running hot, could yields turn upward?
Why the way advisors talk about Social Security changes claiming plans
Focusing on minimum or maximum ages to claim Social Security benefits has an effect on retirement planning, new research shows.
Even the largest U.S. banks measure AI returns differently
JPMorgan and BofA executives discuss AI returns differently. An American Banker survey finds banks that use pre-AI baselines more likely to quantify AI ROI.
Fed’s preferred inflation measure comes in hot at 3.6%
The Bureau of Economic Analysis’ PCE index came in at an annualized rate of 3.6%, confirming that prices continue to rise faster than the Federal Reserve’s 2% target.
Digital assets will usher in multiple paradigm shifts in banking
The adoption of digital assets and the technology enabling consumers to transact with them at all times will have far-reaching effects on how financial services are delivered — many of which we can’t yet imagine.
Fed will drop one interest rate vote next year; two in 2028
Federal Reserve Chair Kevin Warsh said the Federal Open Market Committee will continue to meet eight times a year, but one such meeting will not include an interest rate vote or an official policy statement.
A guide to getting AI buy-in as RIAs look to scale
Two experts discussed how they’ve gotten AI use at their firms to go from a few power users to part of the culture — and what they’ve gained because of it.