CFPB issues advisories on background checks
The guidance also underscores consumer rights to obtain access to their own information as well as identities of sources providing data.
Bank of America’s earnings fall short on charges
The decline in profit came mainly from a $2.1 billion FDIC assessment and a $1.6 billion charge tied to the shift away from LIBOR.
What are stablecoins good for, other than enabling speculation?
While stablecoins do find utility as a base currency for navigating between volatile cryptocurrencies, their broader application as a fiat money alternative remains elusive.
JPMorgan posts record net interest income and predicts more growth
JPMorgan Chase closed out the most profitable year in U.S. banking history with its seventh consecutive quarter of record net interest income and a surprise forecast that the windfall may continue this year.
Five trends to watch in banks’ Q4 earnings
When big banks kick off earnings season on Friday, industry observers will be paying close attention to loan growth, deposit growth, expense growth, credit quality and capital ratios. All five areas will offer clues about the industry’s trajectory in 2024.
To reduce bank account closures, AI needs data — and humans
The anti-money-laundering systems that are automatically kicking customers out of their accounts need to be tempered with rich customer data, human involvement and perhaps quick requests for information from customers.
Fed Inspector General: Board needs policies for sensitive information
The internal watchdog called for new standards for staff handling of controlled unclassified information.
Morgan Stanley to pay under $300 million to settle trading probe
The investigation into highly sensitive block trades — in which banks typically help clients buy or sell chunks of stock large enough to move prices — has focused in part on whether employees shared or misused information about impending transactions in ways that broke securities laws.
SEC approved spot bitcoin ETFs. What happens now?
The decision could make bitcoin a major part of more investing portfolios. But after bitcoin, the SEC is likely to move slowly on approving other crypto-tied ETFs.
Federal Reserve hits four bankers for mishandling private data
In a string of enforcement actions issued Thursday, the Federal Reserve barred one former banker from the industry for misappropriating confidential supervisory information and fined four others for misappropriating internal bank records.