FDIC vice chairman dissents on new merger guidance
Travis Hill says holistic metrics for assessing bank mergers introduce unnecessary unpredictability and deviate from established measures of competition. Hill also provides insight on the status of the stalled Basel endgame proposal.
How the killing of California’s AI bill could affect banks
A vetoed bill would have forced several restrictions on the largest AI model providers, including an ability to instantly shut their models down. A new version could restrict the riskiest uses of AI, such as for loan and hiring decisions.
7 technology C-suite changes at banks, fintechs in September
Citigroup, First National Bank and Marqeta headlined some of the biggest changes in executive leadership in the banking, fintech and payments industries.
BaaS pullouts, Trump crypto: Top tech news September 2024
In September’s roundup of top tech news: Banks and credit unions continue to shift away from banking as a service, Donald Trump announces planned launch of World Liberty Financial cryptocurrency firm and more.
Chase check fraud, Truist woes: Top banking news September 2024
In September’s roundup of top banking news: Check fraud goes viral at JPMorgan Chase, Truist Financial resets its tangible common equity target, Wells Fargo faces new AML woes and more.
How generative AI can speed up instant payment adoption
Instant payment adoption in the U.S. is growing but still trails countries such as Brazil and India. Generative artificial intelligence could be the key to help financial institutions accelerate payment velocity.
Risks linger, but bank economists see soft landing ahead
An American Bankers Association panel of forecasters predicted slower growth, but it said the U.S. economy would likely avoid a recession, sparing lenders deep credit quality woes.
Bank merger policy has long needed a makeover — just not this one
Federal regulators have rewritten the rules for bank mergers in a way that will discourage the kinds of deals necessary to preserve healthy regional banks.
Who wins in an open banking future?
The Consumer Financial Protection Bureau’s open banking rule is supposed to put small banks on a more even footing with their larger rivals. But PNC CEO Bill Demchak says larger banks’ advantages in tech and economies of scale will win the day.
Consumer advocate, fintechs urge CFPB, FHFA to adopt AI guidance
The National Community Reinvestment Coalition and four fintechs want the agencies to act on the White House’s executive order on AI with guidance on beneficial applications of machine learning.