How the alchemy of banking helped create the modern state
In “Money and Promises,” Paolo Zannoni, the historian, banker and executive deputy chairman of Prada, tells the tale of instances in which banks teamed up with governments to create financial instruments. Early bank innovations transformed debt into bank money, allowing cities and nations to thrive.
The politics of payment fees: Harris, Trump and the future of interchange
Merchants and card networks have battled over interchange rates for years. How will the next president change the fight?
Controversial registration drive ineffective so far, SBA head says
Though it has yet to result in any new voters being added to the rolls, SBA is seeking to expand a initiative that has drawn the ire of congressional Republicans, who fear the effort is aimed at boosting Democratic voter rolls.
How the Home Loan Banks’ reform proposals fit into Harris’s housing goal
The Federal Home Loans Bank System is under pressure to fund more affordable housing and has several proposals that may work in tandem with Vice President Kamala Harris’ goal of building three million new units in her first term.
Can banks trust large language models?
A prominent AI expert says the risk of hallucination and error can never be completely eliminated. Experts at BBVA and Celent say those risks can be mitigated.
Biden stresses Fed independence after interest rate cut
President Joe Biden, in a speech emphasizing the progress made on the economy during his administration, said that he’s never called Federal Reserve Chairman Jerome Powell during his time as president.
Why mortgage rates might rise after Fed cut
While the Freddie Mac survey found the 30-year fixed fell 11 basis points, other indicators, including the 10-year Treasury yield, have all increased.
Yotta accuses Evolve of ‘grotesque misconduct’ in Synapse collapse
Fintech app Yotta filed a lawsuit against partner bank Evolve, arguing that it conspired with Synapse to misuse customer funds.
Even in digital era, TV ads help smaller banks reel in deposits: study
Deposits rose by an average of 14% at each branch in counties where banks advertised on TV, a new academic paper finds. The results line up with the view of bank marketers that television remains essential even as digital options flourish.
What’s at stake for banks vying for Apple Cards’ business
Apple’s credit card business is up for grabs, presenting a chance to cross-sell financial products. But that opportunity comes at a cost.