AI adoption, JPMorgan Chase misstep: Most-read tech stories of 2023
The roundup of top banking tech news for 2023: Ally Bank’s path into the world of generative artificial intelligence, JPMorgan Chase’s fallout from its deal with the college financial-planning website, banks across the U.S. increasingly fell victim to cyber attacks and more.
Press Release: FDIC Signature Bridge Bank Receivership Sells Five Percent Equity Interest in Entities Holding $5.8 Billion of Rent-Stabilized / Rent-Controlled Multifamily Loans
PRESS RELEASE | DECEMBER 15, 2023 FDIC Signature Bridge Bank Receivership Sells Five Percent Equity Interest in Entities Holding $5.8 Billion of Rent-Stabilized / Rent-Controlled Multifamily Loans WASHINGTON – The Federal Deposit Insurance Corporation (FDIC), as Receiver of Signature Bridge Bank, N.A. (FDIC-Receiver), today completed two of several transactions following the marketing of the $33 billion […]
Lawmakers introduce flurry of banking legislation ahead of winter recess
Sens. Sherrod Brown, D-Ohio, and John Kennedy, R-La., have reintroduced their ILC bill that would subject companies that hold an ILC charter to similar oversight as traditional banks, while measures to cap interest rates and ban ‘trigger leads’ have also been introduced.
Big banks fret over capital disparities between U.S., U.K. Basel proposals
A near-final framework released this week would increase capital requirements for England’s largest banks by 3.2%, far less than the uptick proposed for U.S. and European banks.
Morgan Stanley hunts for deals in commercial-property upheaval
Commercial-property sales have come under pressure over the past year as borrowing rates soared and values plummeted. Sellers and borrowers have often struggled to agree on pricing, given uncertainty around where values sit today.
Don’t block the CFPB’s plan to provide some relief from medical debt
While medical debt is not a problem created by the financial services industry, the industry has a critical role to play in addressing it.
How Mexico’s payments market is getting more demanding
Competition is heating up south of the U.S. border, prompting fintechs like Airwallex to come to market with a more diverse set of offerings — and to pursue acquisitions that help it move faster.
Citi is exiting the muni business
After months of speculation, the firm confirmed it would “wind down” its municipal underwriting and market-making activities after a “broad-based review” of its muni business, according to a company memo.
Court orders shutdown of websites said to target Microsoft, aid hackers
A federal judge has issued a temporary restraining order against websites created by Storm-1152. That organization allegedly supplies fake Microsoft accounts to groups like Scattered Spider, whose targets include financial companies.
Sen. Sherrod Brown presses big banks on protections for service members
The Ohio Democrat is pressuring the CEOs of JPMorgan Chase, Bank of America, Citigroup and Wells Fargo to proactively provide financial benefits to active-duty service members. Those protections are enshrined in a 2003 law, but many service members do not seek them out.