Solid consumer results at Wells Fargo propel larger profits
Though the banking giant reported more loans and deposits, along with benign credit quality, a dip in fee income dented its third-quarter results.
Stripe broadens the connection between AI shopping and payments
AI “discovery” platform Constructor has integrated with the payments company in an effort to make it easier for AI agents to find and then pay for products as consumers increasingly rely on bots for shopping and payments.
Why Citi remains cautious on key profitability metric
The megabank increased its return on tangible common equity target for 2026 by less than some analysts had hoped. The move sparked questions about whether fourth-quarter results are likely to be disappointing.
Bankers grapple with liability when AI agents mess up
Lead Bank, the tech startup Primitive and others are working to define who’s accountable in situations where AI agents make mistakes in banking and payment transactions.
Inflation likely to spark more rate hikes: Boston Fed’s Collins
Although the economy is “resilient” and unemployment remains low, inflation is susceptible to higher fuel costs and AI data-center spending, the president of the regional reserve bank said.
Visa makes progress in China, but still faces hurdles
U.S. payment companies have struggled to gain a foothold in China, but Visa has made progress, receiving approval from the People’s Bank of China to prepare to establish a domestic card clearing business in the world’s largest payment market. But it still has to apply for a full operating license.
Pre-retirees want income planning advice, beyond investment products
Advisors could find a pool of prospects eager for more advice than they tend to get from their 401(k) plans alone.
JPMorgan warns of risks to consumers who rely on AI agents
The rise of AI agents could intensify competition for deposits and customer relationships, according to Chief Financial Officer Jeremy Barnum. But he said the underlying challenges are not new to the nation’s largest bank.
Lenders should weigh risks vs. cost in credit options
Mortgage firms can decide if what the FHFA has given them to size up VantageScore is compelling and may have to make a call on tri-merge alternatives too.
The SBA citizenship rule can shut out borrowers who still qualify
The Small Business Administration’s move to bar businesses with any non-U.S. owners from loan guarantees has created a headache for lenders and borrowers alike. There is a better solution.