Amex accelerates business AI as high-profile alternatives emerge
Meta’s Muse digital assistant and fintechs have drawn lots of attention, but Amex contends it can harness its long history and ample data to train its internally-developed artificial intelligence agents.
Musings about Muse, Meta’s red-hot new AI agent
What can banks learn from developments around consumer-facing apps like Muse about the future norms they will inevitably have to navigate.
Regardless of DEI politics, Quad-A’s VISION conference grows
As a significantly underrepresented group in the industry, Black planners and other wealth management professionals of all backgrounds have been tapping into the Quad-A network and professional development opportunities for decades.
Researchers challenge the 4% retirement rule with a ‘flexible 3%’ alternative
Advisors may want to rethink one of the industry’s retirement rules of thumb. Two researchers suggest swapping the traditional 4% withdrawal rate for a “flexible 3%” rule to lower failure rates for longer time horizons.
Ohio bank makes deal to blow past $10 billion-asset mark
Peoples Bancorp, which has been hovering just below a key regulatory threshold, plans to get to $14 billion of assets with its planned acquisition of Maryland-based Capital Bancorp.
Fed watchdog finds no criminal violations in HQ project
The Federal Reserve Office of the Inspector General issued its much-anticipated report on the ongoing renovations at the central bank’s Washington, D.C., headquarters and found no criminal wrongdoing.
OCC approves first CEBA credit card bank in 20 years
The federal banking agency has conditionally approved Mission Lane’s request for a limited-purpose credit card bank charter.
Fed & FDIC cite ‘significant uncertainty’ in Amex living will
The Federal Reserve and Federal Deposit Insurance Corp. said they have doubts about the feasibility of American Express’ resolution plan, yet issued no formal deficiencies with theirs or any of the other 14 other large banks’ resolution plans reviewed.
Home prices lag inflation; eastern metros build equity
Home value fell in real terms, as inflation ran 1.5 percentage points above price growth, down slightly from 3.5% in June, according to the Case-Shiller index.
Fed finalizes stress test reforms, takes comment on scenarios
The Federal Reserve voted 6-1 to finalize its proposed stress test reforms, including seeking input on stress test scenarios and models annually and averaging results over two years.