Amid pessimistic economic and policy sentiments, advisors see the potential in their firms
Financial Advisor Confidence Outlook data revealed what advisors think about current issues around the economy, policy and practice management.
Why some banks are exploring ‘bring your own AI agent’
Bank of America, BBVA, Synchrony and Wells Fargo have joined the Personal Agent Protocol, a framework that allows companies to set parameters for what external AI agents can do.
With rates sky-high, mortgages drag down banks’ earnings
High mortgage rates aren’t just a problem for homebuyers. As the loans grew more expensive, many banks reported that mortgages were a drag on their third-quarter financial performance.
Citizens’ payment exec on how banks can coexist with fintechs
Digital-focused companies like Square, Stripe, PayPal, Brex and Ramp have made luring merchants from banks a big piece of their strategies. Matt Valente, the bank’s new treasury and wholesale payments SVP, spoke with American Banker about where he sees space for banks.
Illinois swipe fee case enters the appeals phase
The attorney general of Illinois is appealing an injunction that exempts banks and credit unions from a state law limiting swipe fees on taxes and tips, prolonging a legal fight over compliance costs.
While embedding AI ‘everywhere,’ BNY won’t disclose costs
CEO Robin Vince declined Thursday to say how much BNY is spending on AI. Instead, he spoke broadly about the technology, saying the custody bank is generating returns from its deployment.
Ohio bank joins credit unions suing Fiserv over security
Antwerp Exchange Bank’s suit is the first by a bank among 10 that one lawyer has filed over Fiserv’s security. Fiserv says clients choose their own protections.
Bill would force bank regulators to disclose Epstein records
A group of 25 lawmakers, 24 Democrats and one Republican, has introduced the Epstein Wall Street Records Act, a bill aimed at holding banks and financial executives accountable for enabling Jeffrey Epstein’s global sex-trafficking network.
Maybe inflation isn’t such a big problem after all
Inflation is a looming monster everywhere you look, except on banks’ bottom lines. Also, the rise of AI agents is creating a minefield of new risks for banks.
A TradFi veteran reflects on one year working in digital assets
Digital assets and artificial intelligence-driven agents are going to transform financial services, and the change is going to happen in a hurry. The industry can take some key steps to weather the transition.