Bankers think AI is an anti-fraud lifeline. They’re gravely mistaken.
Generative AI is exciting, but has limited fraud-busting utility. Instead of rushing to implement gen AI-powered anti-fraud initiatives, banks should focus on strengthening their existing security measures.
Mastercard says consumer spending has held strong
The card network reported double digital growth in cross-border spending and in its value added services.
Impact of CrowdStrike outage, Patelco lawsuit: Top tech news July 2024
Banks weigh in on the fallout from CrowdStrike’s outage, Patelco Credit Union navigates an ongoing legal battle over ransomware attack, JPMorgan Chase’s tech usage for fighting fraud and more.
Capital One-Discover merger is getting a lot more political
Capital One’s proposed deal to acquire Discover is being viewed by progressives as a test of how skeptical the administration really is about big bank mergers, while Republican lawmakers mostly support the deal.
First Guaranty lays off 15% of workforce, cuts dividend in half
The Hammond, Louisiana, company, which announced changes to its business strategy, cut 71 jobs and reduced its dividend to 8 cents per share.
FDIC Board of Directors Meeting
BOARD MATERIALS | JULY 30, 2024 FDIC BOARD OF DIRECTORS MEETING Today the Federal Deposit Insurance Corporation’s Board of Directors met in open session. Materials and information relative to the Board actions are available here: A recording of the full webcast of the open meeting is available here. Read more The FDIC does not send […]
FDIC reverses course on Trump-era brokered deposits and ILC rules
The Federal Deposit Insurance Corp. issued proposals Tuesday that would reverse Trump-era rules on brokered deposits and tighten the agency’s guidelines for approving applications to incorporate new industrial loan companies.
FedNow might be the answer to check fraud
Instances of check fraud have ballooned in recent years, plaguing banks, and don’t seem to be slowing down. Probably the best thing regulators can do to combat that fraud is to develop an equally inexpensive alternative that is more secure, and FedNow might be that service.
Indiana’s German American to enter Ohio with Heartland deal
The $330 million transaction announced late Monday would give the Jasper-based company a foothold in fast-growing Columbus, as well as in Cincinnati.
As election nears, should investors reconsider Fannie Mae?
Election speculation about policy change at Fannie Mae has boosted its stock slightly this year. It’s also profitable, but there’s much more to consider.