JPMorgan hires Berkshire’s Combs for investing, advisor role
JPMorganChase hired Berkshire Hathaway’s Todd Combs for a broad role that includes advising Chief Executive Officer Jamie Dimon
Housing falls out of must-pass defense spending package
The National Defense Authorization Act will be voted on by the House without the housing package that passed through the Senate Banking Committee unanimously.
Former Fed officials: CFPB’s Vought must ask for funding
The Consumer Financial Protection Bureau’s Acting Director Russell Vought has an obligation to request funding for the agency, five former Federal Reserve officials said. Plus, three nonprofits sue Vought and the CFPB.
Bankers going all-in on AI should take a lesson from the fate of the Concorde
The supersonic Concorde was one of aerospace technology’s greatest achievements. However, its ultimate commercial failure should be a lesson for those pushing AI into banking. Advanced technologies often develop faster than consumers’ ability to benefit from them.
Inside the brewing battle over regional Fed bank leadership
Federal Reserve watchers expect a board of governors vote in February to reappoint the 12 regional Fed bank presidents — which is typically treated as a formality — to be the next flashpoint in the White House’s effort to bring the central bank to heel.
Connecting banks with nonprofits to make New York ‘greater’
Through a nonprofit called Greater NY, early-career analysts at banks can apply their financial skills at charities and other civic-minded organizations. The partnerships give free help to nonprofits, but provide surprising benefits to the banks as well.
Banks paid $370M in ransoms to cybercriminals in 2024
While overall payments declined, the financial sector remained the top payer to cybercriminals, surpassing both health care and manufacturing.
CFPB’s proposed credit access rule would bring redlining back
A comment deadline is approaching on a proposed Consumer Financial Protection Bureau rule that would dismantle longstanding rules meant to protect minorities from discrimination in the market for credit.
Former CEO of failed Okla. bank indicted on fraud charges
Danny Seibel, who led First National Bank of Lindsay from 2007 until shortly before the bank’s failure last year, is accused of falsifying bank documents to conceal the condition of loans.
The heavy tech lift behind stablecoin banking
At a UCLA economic panel, experts from Zions, JPMorgan, Berkeley Research Group and Wave Digital Assets discussed the challenges in data management and compliance risk that goes with adopting digital assets.