Citigroup notifies its employees about job cuts
The megabank did not say how many positions it plans to cut as part of a reorganization that represents Jane Fraser’s biggest move so far as CEO.
CFPB, 11 states reach $30M settlement with Prehired
Prehired, a bankrupt tech boot camp firm, agreed to pay more than $30 million for deceptive practices, false job guarantees and illegal loans to students, the Consumer Financial Protection Bureau announced.
Microsoft maneuvers to a prime role with banks in OpenAI upheaval
By nabbing the creators of ChatGPT during a leadership crisis at its parent company, Microsoft put itself on track to become the leading provider of generative AI for financial institutions, experts say.
Home Loan banks should check more than collateral, FHFA chief says
In her first remarks since the release of a sweeping report on the banks, Federal Housing Finance Agency Director Sandra Thompson urges them to strengthen underwriting and communication with their members’ regulators.
AI copilots: How are banks using them, and do you need one?
Microsoft, Google, Salesforce, ServiceNow, Blend, Q2 and Intuit are among the software companies that offer copilots. Here’s why banks are taking notice.
JPMorgan Chase accused of de-banking, defaming a Florida business
A medical services company is suing the nation’s largest bank, alleging that it refused transactions, closed accounts and erroneously told customers that the company was subject to sanctions by the U.S. Treasury Department. JPMorgan declined to comment on the suit.
Startup adds the one thing many BNPL loans lack: credit visibility
San Francisco-based Cushion’s technology shows buy now/pay later borrowers their upcoming bill payments and helps them build a credit history by reporting certain loan payments to Experian.
20 banks and thrifts with the largest securities portfolios
The top five have more than $2.6 trillion in combined securities as of March 31, 2023.
Current regulations fall short in the face of tech-enabled fraud
In our ongoing battle against financial fraud, we need a holistic overhaul of the regulatory landscape to safeguard the financial industry and its stakeholders effectively.
For this Best Bank to Work For, it’s all about shared responsibility
West Plains Bank and Trust in Missouri, No. 11 on this year’s Best Banks to Work For ranking, wins high marks for constructive training, employee development, team culture — as well as excellent benefits.