Finding value in AI: Lessons for banks from industry leaders
As banks deploy AI to cut costs, some face pressure to define long-term value, Finovate speakers said this week.
M&T is feeling ‘really good’ about CRE loans as rates start to fall
The regional bank has already seen a large reduction in “criticized” loans, and it expects that trend to pick up as lower borrowing costs alleviate the pain in the commercial real estate sector.
Connecticut private bank draws regulatory ire
Fieldpoint Private Bank & Trust and its parent company entered a written agreement with state and federal supervisors pledging to address several compliance issues.
Visa pushes ‘pay by bank’ in the U.K.; Klarna faces AML heat
The card network is building a model for account-to-account payments, which are gaining popularity, while Swedish regulators criticize Klarna’s money-laundering prevention efforts. That and more in American Banker’s global payments roundup.
Core U.S. inflation picks up, damping odds of outsize Fed cut
Underlying U.S. inflation unexpectedly picked up in August on higher prices for housing and travel, undercutting the chances of an outsize Federal Reserve interest-rate cut next week.
Mutuals see a big future in Cincinnati bank’s small private placement
Advocates for depositor-owned banks hope Warsaw Federal’s $5 million capital raise will serve as a template for institutions in need of more capital than retained earnings can provide.
Across asset classes, the top-performing banks aren’t those you expect
When it comes to delivering superior return on average equity, smaller banks frequently punch above their weight, according to a recent study by Capital Performance Group and American Banker.
CFPB assistant director talks housing czar, junk fees and AI
The Consumer Financial Protection Bureau’s Assistant Director of Mortgage Markets admits there’s room to improve coordination between housing agencies, regulators and mortgage lenders and servicers.
Warren Buffett’s Bank of America stock sales slow after price declines
Berkshire Hathaway began selling BofA shares in July and has whittled its stake down to just above 11%.
‘Show them death and they’ll take despair’: Banks not sold on Basel III redux
Large banks welcomed regulators’ proposed changes to last year’s controversial reform package, but remain skeptical about the need for more capital.