Goldman surges past expectations, despite global tumult
Earnings per share and net income for the New York megabank both surpassed analysts’ estimates in the first quarter, despite the ongoing war in the Middle East and rising inflation.
In assessing competitors, bankers should take a lesson from the GOAT
Former NFL quarterback Tom Brady knew his opponents better than they knew themselves. Smart bankers should too. Here’s a 10-point “wristband playbook” for mastering banking’s other KYC: know your competition.
Bank earnings reflect the fog of war, the fog of AI
First-quarter earnings will provide insights into how the Iran war is affecting consumers and how AI is changing banks.
Former Fed official argues against Fed independence
Former Federal Reserve Vice Chair for Supervision Randal Quarles, who served during President Trump’s first term, said members of the Fed board should be removable by the president, but that the decentralized structure of the Fed will ensure that monetary policy decisions remain sound.
Securitize appoints former SEC official as president
The tokenization platform provider, which has a nonbinding agreement with NYSE and is aiming for a public debut, promoted former SEC Trading and Markets Director Brett Redfearn to the role.
War, oil and inflation: What it means for rates
Economists surveyed by Wolters Kluwer are scaling back rate cut expectations as Iran conflict-driven energy costs push inflation higher, complicating the Fed’s path forward.
BayCom in California replaces its senior leadership team
In a strategic shift, the Walnut Creek-based company has tapped a trio of former PacWest executives to fill its top three management positions.
Why Anthropic met with bank CEOs about AI security risks
Artificial intelligence giant Anthropic warned that its vulnerability-scanning AI tool could be used to break operating systems. Is it a systemic risk?
Why banks like tokenized deposits
Banks are more active in the digital asset option than stablecoins. Those involved say the appeal is the similarity to traditional banking, only faster and more digital.
FDIC rescinds 2023 guidance on nonsufficient-fund fees
The FDIC rescinded guidance that advised charging customers multiple nonsufficient-funds fees for the same transaction could be considered unfair or deceptive.