The AI credit boom’s biggest risk revolves around revenue
There are a lot of reasons to be concerned about the amount of capital being invested in AI and how it touches the banking system.
Year-end tax planning: 5 moves advisors should review with clients
From charitable gifts to opportunity zone gains, here are fourth-quarter tax moves advisors should address while keeping clients’ longer-term plans in mind.
Why Affirm is incorporating LLM tech into its underwriting
The technology that powers large language models like ChatGPT, Claude and Gemini is designed to predict what is going to come next. Affirm contends the same technology can be used for underwriting.
Long Island’s Dime plans to buy Staten Island bank
Dime Commercial Bancshares agrees to acquire ES Bancshares, Mary Elizabeth Taylor joins Block as head of Americas public policy and government relations, Bank of America names Jim Fitterling and Bill Thomas to its board of directors, and more.
Blaming rates, Flagstar says turnaround will take more time
The New York-based regional bank now expects to achieve its strategic objectives in 2028, a year later than previously expected, as higher interest rates weigh on profits.
Wells Fargo private wealth head taps firm’s full capabilities for clients
Since stepping into her position as private wealth director, Krista Goryl has been busy traveling the country to help advisors harness the firm’s offerings — from tax planning and trusts to specialty assets and family dynamics — to better serve wealthy clients.
First Citizens is open to buying more branches post-BMO deal
First Citizens executives touted the success of the company’s recent deal to acquire 138 BMO branches. They signaled openness to similar transactions in the future.
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.