How cybersecurity, AI and senate elections will shape banking in 2024
New regulations involving cryptocurrency and the results of key elections will impact the industry’s success this year.
Which big-bank CEOs got hefty pay raises in 2023?
Wells Fargo’s Charlie Scharf and Morgan Stanley’s James Gorman recorded the biggest gains among the CEOs whose compensation has been disclosed so far.
Credit tightened in 4Q — but lenders are more upbeat about 2024
Senior loan officers recently told the Federal Reserve that loan demand weakened and underwriting tightened, but both at a slower pace than three months earlier. They anticipate demand for credit will improve, especially in the back half of the year — provided rates begin to fall.
Data breach affects 57,000 Bank of America accounts
Customers with deferred compensation plans at the bank had personally identifiable information compromised through a third party, Infosys McCamish.
Raising the threshold for tougher bank regs may not have paid off after all
When the 2018 Dodd-Frank reform bill lifted the asset bar for enhanced prudential standards for banks from $50 billion to $100 billion, few thought it was controversial. Recent turmoil among regional banks suggests the change may have created as many problems as it solved.
‘Most AI projects fail to reach deployment’: Eric Siegel
Eric Siegel, author of the book The AI Playbook, explains what it takes to take traditional and advanced artificial intelligence projects from idea to execution.
Credit unions put a twist on BNPL to lure debt-conscious borrowers
Shared services organizations PSCU and Co-op Solutions are offering post-purchase buy now/pay later loans, with the goal of reaching consumers who are concerned about managing their credit.
Standard Chartered weighs breaking up corporate, investment bank
The revamp would be the latest effort by CEO Bill Winters to improve Standard Chartered’s returns. The bank’s shares have languished under the 62-year-old CEO and currently trade about 40% below where they traded when he took the reins in 2015.
Fincen to subject investment advisors to anti-money laundering rules
The Financial Crimes Enforcement Network Tuesday proposed a rule to include investment advisors in the compliance regime under the Bank Secrecy Act, aiming to close regulatory gaps exploited by criminals.
2024 will be a transformative year for cryptocurrencies
With dominant industry personalities suddenly swept offstage, the evolving rules and regulations that will dictate the industry’s future will be in the spotlight.