Citigroup faces $26 million in losses on Australian block trade
The U.S. bank was unable to fully sell a block of shares in Australia’s Goodman Group it had underwritten for China’s sovereign wealth fund.
RBC’s City National shows signs of revival
The Los Angeles-based subsidiary of Royal Bank of Canada posted its strongest performance in six quarters.
Joint Press Release: Agencies Issue Statement on Elder Financial Exploitation
JOINT PRESS RELEASE | DECEMBER 4, 2024 Federal Deposit Insurance CorporationBoard of Governors of the Federal Reserve SystemConsumer Financial Protection BureauFinancial Crimes Enforcement NetworkNational Credit Union AdministrationOffice of the Comptroller of the CurrencyState Financial Regulators________________________________________________________________ Agencies Issue Statement on Elder Financial Exploitation Five federal financial regulatory agencies, the Financial Crimes Enforcement Network (FinCEN), and state […]
Wells Fargo to sell San Francisco headquarters, stay in city
The building at 420 Montgomery St. could be put on the market as soon as this month, the Wall Street Journal reported.
Your AI credit models are fine, but their training data is problematic
Artificial intelligence systems built to assess creditworthiness are trained on data that implicitly accepts past discriminatory lending decisions as legitimate signals about borrowers today.
Rise of low-cost accounts fuels decline in the unbanked population
The availability and visibility of Bank On-certified accounts, which aim to expand banking access, is contributing to a decrease in the percentage of U.S. households that are unbanked, according to bankers and government officials.
10 largest banking fintech equity deals of Q3
The three largest deals had an average round amount of more than $121 million.
Donald Trump Jr. joins PublicSquare board of directors
Shares of PSQ Holdings nearly quadrupled Wednesday as Wall Street reacted to the fledgling payment company’s appointment.
Lake Shore Savings freed from breach-related consent order
The order stemmed from a cybersecurity breach in 2022. The Office of the Comptroller of the Currency also lifted the bank’s “troubled condition” status.
Insider fraud and AI threats top forecasts of 2025 cybercrime
In a report Tuesday, credit bureau Experian predicted that government identity systems could get an update in the coming year. Here’s what else could happen.