IBM’s latest mainframe comes with AI accelerators
The new z17 mainframe, unveiled in a launch event this week, also comes with quantum-resistant encryption.
Bank CEOs ponder impact of Trump’s tariffs
The chief executives at four of the nation’s largest banks weighed in on what evolving trade policies mean for their businesses and the U.S. economy. “I think you have to be a little bit pessimistic here,” said Bank of New York Mellon CEO Robin Vince.
Changes to Social Security death list will affect banks
A government database banks rely on to find out about deaths suddenly grew dramatically last month. Now, live immigrants are also getting added to it.
CFPB drops lawsuit against Comerica Bank, without prejudice
The Consumer Financial Protection Bureau had accused the Dallas bank of “deliberately disconnecting 24 million customer service calls” among other “unfair” acts. But the motion to dismiss allows the CFPB to refile the case again.
Jamie Dimon: Looser capital rules are good for the market
The JPMorgan Chase CEO said Friday that recent turmoil in the bond market highlights the need for more capital and liquidity flexibility.
Former TD Bank employee pleads guilty to check-fraud scheme
A former TD Bank employee pleaded guilty to a felony in connection with a check-fraud scheme; EWA provider DailyPay filed a lawsuit against New York Attorney General Letitia James; First Citizens BancShares ended the shared-loss agreement it made with the FDIC after acquiring Silicon Valley Bank; and more in this week’s banking news roundup.
BNY enjoys record quarter but sees tariff trouble ahead
Bank of New York Mellon’s earnings blew past Wall Street’s expectations, but CEO Robin Vince said the bank is bracing for long-lasting uncertainty.
Exclusive: Cortez Masto offers bill to reform FHLBs
A bill being introduced by Sen. Catherine Cortez Masto, D-Nev., would compel the Federal Home Loan Bank system to contribute 30%, or a minimum of $200 million, of each bank’s net earnings into affordable housing or other community development programs.
Business group asks Treasury to destroy CTA data
The National Federation of Independent Business calls on the Treasury to delete beneficial ownership data collected under now-paused rule, citing privacy risks and small business burdens.
Trigger lead legislation reintroduced in Congress
Versions of the bill were introduced in the House and Senate, raising odds that a national trigger lead ban could be near.