Do banks need a nutrition label for their AI model data?
The Financial Services Sector Coordinating Council’s idea for describing data and its sources is starting to take off.
EverBank, WaFd say merger would address each firm’s issues
The deal announced Monday would diversify EverBank’s higher-cost funding model, and it would accelerate WaFd’s transition away from its roots as a traditional thrift.
Former FTC commissioner in Supreme Court battle joins NYU
Rebecca Kelly Slaughter’s firing from the Federal Trade Commission spurred a lawsuit that led to the Supreme Court overturning Humphrey’s Executor and ending agency independence. Slaughter says she will continue to work on consumer protection issues.
Circle expands stablecoin network with Tazapay acquisition
Tazapay’s last-mile infrastructure will help Circle expand its own infrastructure and USDC distribution in the Asia-Pacific region and emerging markets, where demand for USDC-denominated transactions is growing.
Inflation expectations high but steady in key Fed survey
A consumer inflation expectations survey released Tuesday showed households expect inflation to be 3% or higher through at least the next five years.
IDscan’s breach shines light on vendor risk in the age of AI
The theft of 153 million drivers’ licenses highlights the danger of having a small number of vendors serve an entire industry.
In the CAMELS system, the problem is measurement, not management
In assessing the strength of banks’ management, regulators need to work with stakeholders to develop a set of evidence protocols, analytical frameworks, and illustrative metrics that will allow fair, consistent and proactive measurement.
Banks, credit cards fall out of favor for bill pay
Research finds consumers are using billers’ websites to make payments, largely snubbing banks’ sites.
Safety and soundness rule puts nonmaterial risk onus on banks
A recently finalized joint rule from the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. raises the bar for formal supervisory criticism, putting more of the responsibility for managing downside risk on banks.
Tokenizing assets opens up vast new opportunities for banks
Tokenization projects are no longer viewed as modernization initiatives, but rather as a potential source of new revenue, lower operating costs, improved capital efficiency and differentiated products.