Banks must get serious about measuring and mitigating AI-related risk
Artificial intelligence is going to be integrated into the financial system. So, banks need to be clear-eyed about its potential dangers, and proactive about avoiding them.
Will regulators hit the gas or brakes on remaining post-Basel reforms?
Federal Reserve Vice Chair for Supervision Michael Barr conceded major points to the industry on last year’s capital reform proposal. But how regulators will approach other reforms in light of that experience is uncertain.
Bank investors’ worry after Wells Fargo AML action: Who’s next?
A new OCC action over the megabank’s anti-money-laundering guardrails, which follows news of seemingly more severe lapses at TD Bank. is raising concerns that a broader crackdown is at hand.
Federal banking agencies extend comment period on bank-fintech risks
Banks now have until Oct. 30 to weigh in on potential risks of third-party fintech partnerships for banking products and services.
Turning community bank employees into AI enthusiasts
Community bankers have found that demonstrating efficiency, providing proper training and describing use cases can help get employees on board with AI products.
Joint Press Release: Agencies Remind Banks of Potential Risks Associated with Third-Party Deposit Arrangements and Request Additional Information on Bank-Fintech Arrangements
JOINT PRESS RELEASE | SEPTEMBER 13, 2024 Federal Deposit Insurance CorporationFederal Reserve BoardOffice of the Comptroller of the Currency________________________________________________________________ Agencies Extend Comment Period on Request for Information on Bank-Fintech Arrangements The federal bank regulatory agencies announced today that they will extend until October 30, 2024, the comment period on a request for information on bank-fintech […]
How Fifth Third is embracing hot payment trends
The bank’s acquisition of embedded finance firm Rize Money and collaboration with open banking firm Trustly will enable the bank to grow real-time processing, account-to-account transfers and address emerging compliance challenges.
How banks can overcome challenges of cash flow underwriting technology
At a New York event, industry practitioners shared how they are addressing cultural, compliance and logistical objections to making loans based on bank account data.
Bank stocks stall amid new threat to profitability
Anticipated interest rate cuts could help stressed borrowers, but such a shift in monetary policy may curb lending income.
What bankers need to know about Trump’s World Liberty Financial
The crypto company founded by Donald Trump’s sons will officially launch Monday.