GOP fraud plan: more tools for banks, no scam liability
The House Financial Services Committee’s Republican majority backed slower funds availability and declined to shift authorized-scam losses onto banks.
BNY and Nubank CEOs join OpenAI board, shake-up at Old National
BNY’s Robin Vince and Nubank’s David Velez have joined the boards of the OpenAI Foundation and OpenAI Group Public Benefit Corporation; Old National Bancorp has revamped its top leadership teams; City National Bank appointed Lindsay Dunn executive vice president and head of personal and business banking; and more in this week’s banking news roundup.
‘Banks can hugely benefit from blockchain’: Linda Jenkinson
The chairman and CEO of Vast Holdings, parent of Vast Bank, believes banks that don’t embrace innovation will be at risk.
‘It’s going to be a cultural shift’: Jody Mettler
The chief operating officer of Bitgo says banks will need flatter organizations when they participate in on-chain finance.
How AI is changing work at Amex
CEO Steve Squeri said the company is adding fewer customer service representatives and is cutting down on a backlog of technology projects.
Card networks’ ‘buy button’ gains ground but hurdles remain
Much of the recent growth of the universal e-checkout system Click to Pay is taking place outside the U.S. Payment experts say there are steps banks can take to boost usage.
New ‘opportunity zones’ will drive investment in underserved communities
As governors prepare to designate new “opportunity zones,” lenders and investors should take advantage of the chance to target capital to communities where it will both do good and generate strong returns.
$1 billion may just become the cost of online banking
The New York AG is alleging banks aren’t doing enough to combat fraud on Zelle, but online fraud might be too big for even the nation’s biggest banks to fight.
Risk hedge or gambling? Prediction market debate persists
Kalshi’s Head of Enforcement Robert DeNault and former CFPB acting Director Mick Mulvaney shared opposing views on the controversial sites at a CFR event.
After rise in deposit costs, Huntington foresees 2H rebound
Some analysts and investors zeroed in Thursday on weaker net interest income guidance. But Huntington executives said they expect strong second-half results.