How banks are looking to tame their growing AI bills
Lately there’s been a sea change in how tech companies charge for AI, and some banks are balking at the cost. Here’s a look at how lenders can rein in their spending.
Clash of titans: GSIB proposal pits megabank against megabank
JPMorgan Chase and Bank of America raised concerns about the proposed removal of risk-weighted assets from the denominator of the short-term wholesale funding component of the GSIB surcharge — changes backed by Goldman Sachs and Morgan Stanley.
Housing bill expected to become law — sooner or later
House Speaker Mike Johnson, R-La., reportedly plans to send the recently passed housing bill to the White House on Monday, starting a 10-day clock for the president to sign the bill.
Airwallex announces $320 million fundraise and CFO hire
The global payments platform, which recently expanded to the U.S., also plans to build new autonomous finance and agentic commerce products.
Epstein victim says Puerto Rico bank facilitated his crimes
A new lawsuit seeking class-action status alleges that FirstBank Puerto Rico knowingly facilitated Jeffrey Epstein’s sex trafficking operation by failing to enforce basic anti-money laundering and Know Your Customer rules.
Pinnacle chooses new Midtown Atlanta HQ
Pinnacle Financial Partners’ headquarters is moving to a new 25-story office tower in Midtown Atlanta; New Jersey-based Provident Bank appoints Adriano Duarte to succeed Thomas Lyons as chief financial officer; Binance will shut down services for customers in France, Italy, Spain and Poland after the exchange withdrew its MiCA licence application in Greece; and more […]
New York’s top financial regulator zeroing in on agentic commerce
Speaking at the New York Federal Reserve’s Innovation Conference on Friday, New York Department of Financial Services acting Superintendent Kaitlin Asrow said the regulator was interested in maintaining long-standing consumer protections as AI adoption increases.
The next challenges behind real-time payments adoption
Banks face conceptual, operational and other hurdles that threaten further adoption of real-time payments.
California bank makes agribusiness push, defying wider trend
Five Star Bank near Sacramento plans to expand in Lodi, an agricultural hub in the Golden State’s Central Valley region. The lender’s growth push comes as the number of farm banks has been shrinking.
U.S. Bank takes a swing at automating health care payments
The bank is part of a trend of financial institutions trying to streamline a complicated industry that paper has dominated for years.