How small banks are facing big payment challenges
With digital assets, AI and embedded finance advancing quickly, execs from Vantage Bank and Thread Bank spoke about tech partnerships at American Banker’s Small Business Banking conference.
Why Morgan Stanley is turning advisors loose to build their own AI agents
Morgan Stanley’s head of AI for its wealth management division said advisors have so far ‘curated’ nearly 50,000 AI agents. It’s a hands-on approach not common at large wealth managers.
Wells Fargo wants customers to prove they’ve revoked AI agents
Starting Nov. 24, even if Wells Fargo customers tell an AI agent to stop accessing their accounts, they’d still be liable for any agent activity unless they produce evidence they did so.
Wait, credit unions are ‘banks’ now? Not so fast…
Given credit unions’ decades-long deviation from the statutory limits on their operations, it might feel tempting to call them “banks,” but the differences are profound.
Bankers swing to negative view on funding costs: Survey
Bankers’ outlook on funding costs has grown decidedly cloudy compared to their expectations from a year ago, according to a new survey from the fintech firm IntraFi.
The calculus of Congress and the cost of cash
No matter which party wins Tuesday’s elections banks will still be in an enviable position, though deposit costs are expected to rise over the next year.
Survey: Firms commit to marketing but aren’t tracking the results
In two reports, the PR firm Gregory finds prominent wealth managers sometimes never show up in AI search results and that few firms are doing enough to track whether all the money they spend on marketing is having the desired effect.
High mortgage rates complicate the case for paying cash for a home
With mortgage rates elevated, the homebuying math has changed for some clients. Advisors weigh the costs of borrowing against other factors such as tax consequences and liquidity needs.
Montana bank employee sentenced to 8 months in prison
A First Interstate Bank employee was sentenced to eight months in prison for falsifying a bank loan to receive $50K; Cross River Bank’s parent company has entered into a memorandum of understanding with SBI Holdings toward a joint venture in Japan; Morgan Stanley’s Andrew Foster has announced his retirement; and more in this week’s banking […]
$6B Binance heist provokes stablecoin freeze dilemma
The norms around freezing stolen crypto are changing and affect any bank supporting digital assets.