A group of bankers tries to ‘hack’ AI chatbots’ answers
Sunrise Banks and other members of the Global Alliance for Banking on Values are encouraging their employees to train the generative AI models they use, so that the models understand values-based banking.
Banks, consumer groups push back against stablecoin yield
Industry groups and consumer advocates are continuing to push for regulators to interpret the GENIUS Act’s prohibition on stablecoin interest as broadly as possible, while crypto firms pushed for a narrower interpretation, arguing that increased competition would benefit consumers.
Miran says Fed should cut 25bps in December ‘at a minimum’
Federal Reserve Governor Stephan Miran said emerging stresses in housing and private credit markets warrant a reduction to short-term interest rates. While preferring a 50 basis point cut in December, Miran said he would settle for a 25 basis point reduction.
Leave FDIC insurance where it is and tax ‘too big to fail’ banks instead
Bankers who view the FDIC as their insurance cooperative protecting them rather than a corporation protecting depositors have proposed unwarranted $10 and $20 million FDIC deposit insurance limits. There is a better solution to their concern over big bank competitive advantages.
Trump, Pulte float 50-year mortgage use in U.S.
President Trump and housing regulator Bill Pulte are considering introducing a 50-year fixed rate mortgage that Fannie Mae and Freddie Mac would purchase.
Fed points to market froth as leading stability risk
In its latest financial stability report, the Federal Reserve found that asset valuations continue to be elevated and leverage levels remain high, especially among nonbanks like hedge funds and insurance firms.
Fed’s Miran: Stablecoin uptake bolsters case for rate cuts
Federal Reserve Board Gov. Stephen Miran said the growth of stablecoins and cryptocurrencies will likely impact monetary policy and could lead to lower interest rates.
Affirm ‘firing on all cylinders’ with earnings beat
Consumers’ and merchants’ penchant for 0% loans are boosting the buy now/pay later lender in its first fiscal quarter ended Sept. 30, as gross merchandise volume hit a record.
Santander launches portal for U.S. businesses going global
The Spanish bank says it can connect small and medium sized U.S. businesses with local market experts on its newly launched digital platform Navigator Global.
PNC boosts branch investment to $2B, plays down more M&A
The Pittsburgh-based bank said Friday that it will focus on building 300 branches in high-growth markets by 2030. It also minimized the prospects for another acquisition on the heels of its recent deal for Colorado-based FirstBank.