What payment companies are doing with AI copilots
Tipalti, Stax and Stripe are among those using new artificial intelligence tools as digital helpers for staff. The specifics vary based on each company’s mission and level of comfort in the technology.
The CFPB’s Section 1033 rule is a good start, but could be much better
The agency’s rule represents real progress, but applying it to more kinds of accounts and making other common-sense changes would increase its already significant benefits to consumers.
How BMO merged its technology with Bank of the West’s
BMO Financial Group doubled its mainframe capacity, prepared a cloud staging platform and used chaos engineering to ensure its Bank of the West integration went smoothly.
California AG warns smaller banks, credit unions on penalty fees
Surprise overdraft fees and charges incurred by consumers who cash bad checks likely violate the law, state Attorney General Rob Bonta said. His message was especially notable because it was aimed at smaller institutions that have gotten less scrutiny from Washington.
Tenn. bank is latest to be penalized over banking-as-a-service
An FDIC enforcement action against Lineage Bank is part of a wave of cases involving banks that have partnered with fintechs in recent years.
Jack Dorsey’s plan to reshape Square
After his aggressive cost-cutting raised profits above analysts’ expectations, Block’s CEO aims to retool several features of Square and Cash App to enable them to operate like a “social bank.”
The DOJ doubles down on AI, HTLF’s CEO announces retirement
The Department of Justice appoints Jonathan Mayer as its first chief AI officer, HTLF’s CEO Bruce Lee plans to retire, Wilmington Trust’s Doris Meister will step down in May, and more in the weekly banking news roundup.
Deepening downturn in U.S. agriculture economy red flag for banks
The USDA forecasted farm profits will plunge 26% this year, potentially creating credit quality challenges for lenders.
Press Release: FDIC Makes Public January Enforcement Actions; No Administrative Hearings Schedules For March 2024
PRESS RELEASE | FEBRUARY 23, 2024 FDIC Makes Public January Enforcement Actions; No Administrative Hearings Schedules For March 2024 WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in January 2024. There are no administrative hearings scheduled for March 2024. The […]
It’s time to revamp the call report’s archaic handling of CRE loans
The quarterly filings ought to include far more detailed breakdowns of banks’ commercial real estate loan portfolios, including the crucial distinction between owner-occupied properties and rentals.