Inflation slowed to 3.5% in June, giving Fed breathing room
CPI inflation remains above the Federal Reserve’s 2% target, but the slower rate of increase gives the central bank time to weigh the best course of action.
Visa debuts AI-based financial advice
The card network’s AI Financial Assistant uses information from 257 billion yearly transactions to inform “conversational” advice embedded in banking apps.
Bank M&A slowed to a crawl after start of the Iran war
A detailed look at bank merger-and-acquisition activity between January and June reveals a significant slowdown in announcements and a decline in deal value and pricing. The deceleration coincided with the start of U.S.-Israeli attacks on Iran.
A sweeping housing bill is now law. Will it change the market?
Housing professionals say the ROAD Act provides a blueprint for addressing housing supply and affordability challenges, but what comes next will largely depend on funding decisions and whether states and local governments adopt the initiatives outlined in the law.
Jack Henry is using Google AI to defend 7,400 institutions
Fiserv chose OpenAI. FIS chose Anthropic. Jack Henry just chose Google. The supervisory guidance that would govern any of it excludes agentic AI.
Are rising bankruptcies a concern for banks’ 2Q earnings?
The volume of bankruptcy filings has been climbing, particularly among small businesses. But analysts note that the numbers are still below pre-pandemic levels.
JPMorgan’s AI beat the 60-40 in tests; advisors aren’t worried
In pitting AI agents against historic 60-40 portfolio results, JPMorgan found AI won every time. But researchers could not rule out the possibility that the systems could have essentially cheated.
First Hawaiian strikes $2B deal to return to U.S. mainland
The Honolulu-based company said it plans to acquire TriCo Bancshares in Chico, California, and retain all of the seller’s 68 branches.
Mastercard’s Vocalink rumors and the rise of payment protectionism
The card network may sell a London-based processing subsidiary, reportedly amid government pressure on U.S. payments domination in local markets.
Consumer groups team up to battle EWA lobby
A group of 24 state-focused advocacy groups are banding together to form a national coalition to fight against industry lobbies as a federal EWA law threatens states’ regulatory independence. Opponents of EWA say it resembles payday lending.