Banks dodge early damage from PHP2Shell flaws
Attackers fired millions of attempts at two critical PHP flaws. One credit union briefly went dark, but no U.S. bank has reported a compromise.
Licensing process is key to yield in OCC stablecoin rule
The Office of the Comptroller of the Currency dropped a presumption against yield arrangements in its final stablecoin rule, leaving the licensing process as the venue for issuers to find out if their yield arrangements pass muster.
Independents lag on AI. Here’s how they can catch up
Larger firms have the governance, vetting and training to deploy AI. Smaller firms are racing to catch up.
American Express touts AI, plans 5% downsizing
The financial institution did not link the reduction directly to new technology, saying it needed to “reduce layers.”
How bank compliance leaders are engaging with regulators
Risk and compliance executives shared how they’re responding to rapid changes in bank regulation at American Banker’s Most Powerful Women in Banking Conference.
Stablecoins are essential to the health of the federal balance sheet
Stablecoin issuers back their dollar-pegged assets with short-dated U.S. Treasuries. As the industry expands, they are picking up the slack left by traditional buyers who have soured on U.S. government debt.
How scrutiny of private-credit valuations will impact banks
The Securities and Exchange Commission is examining the growing private-credit market, telling asset managers and insurers to “maintain rigor” in how illiquid and opaque assets are valued and in how the risks get disclosed to investors.
Looking ahead, Huntington sees growth, warnings signs
While Robust C&I lending drove an earnings beat, Chairman and CEO Steve Steinour called market turbulence a cause for concern.
Merrill announces laser-targeted advisor bonus incentives for 2027
Industry consultants say one of the surest ways to lose advisors is to make frequent changes to their pay. Perhaps with this in mind, Merrill sticks to its basic compensation grid while seeking to boost recruiting.
Bread: Inflation making spending ‘increasingly selective’
While credit sales grew 9% in the third quarter, Bread Financial CEO Ralph Andretta said that consumers with lower credit scores showed greater selectivity in their purchasing patterns.