TD Bank names Birch Hill’s John MacIntyre as new board chair
The new chair was already a director of the Canadian bank, which has been struggling to get past a money-laundering settlement.
Senators introduce bill to tighten AML regulations on U.S. art market
Art collectors — and criminals — can anonymously spend millions on art in the U.S. A newly introduced bill could change that.
Walmart expands B2B payment terms to address ‘uncertainty’
The big box retailer is trying to increase share among its business clients by adding financing options for businesses that are navigating economic volatility.
Judge rejects DOJ’s bid to end bank’s redlining settlement
A judge ruled the Pennsylvania lender had to commit to its increased fair lending obligations for three more years, as it wouldn’t harm the public interest.
FHFA set to end equitable housing finance plans for GSEs
The agency has a proposed repeal in place, getting ready to be made public on July 28, which would rescind another Biden-era fair housing policy.
Nonbank financial firms are a growing vector of systemic risk
Regulators should be paying more attention to the ballooning galaxy of nonbank financial institutions currently operating in global markets. The risks they pose to the financial system are not well understood.
Paze’s move beyond big bank owners gets a credit union boost
Like its sibling app Zelle, Early Warning’s digital wallet is trying to build a brand that can attract new members. Star One Credit Union is an early win.
Trovata buys treasury software; fundraises from big banks
The corporate cash management fintech acquired ATOM to extend treasury management services to its business customers and raised funds from PNC and State Street.
BankUnited hires new CFO; Ponce Bank’s CEO to chair CDBA
BankUnited hires Wells Fargo’s James Mackey to be its new chief financial officer; Ponce Bank President and CEO Carlos Naudon is named chairperson of the Community Development Bankers Association; Jefferson Bank announces the retirement of longtime President and CEO Danny Butler; and more in this week’s banking news roundup.
Goldman Sachs staff now write a million gen AI prompts a month
The New York bank is the latest to offer generative AI to all its employees and agentic AI to developers. Chief Information Officer Marco Argenti explained the bank’s next steps with the technology.