Wall Street bosses turn to AI to help write performance reviews
Banks have already turned to AI for derivatives trading and fraud detection. Now they want to use it for the annual review process.
Gen AI is the key to making Gen Z love banks
Financial institutions can deploy generative artificial intelligence to connect with young consumers and turn them into customers for life.
Is your ATM running? AI can catch it (if it’s not).
Diebold Nixdorf is using artificial intelligence to proactively spot trouble — a move that has already increased ATM uptime by up to 3.5%.
Banker of the Year: PNC’s Bill Demchak
2023 proved to be a rocky year for large regional banks. But under CEO Bill Demchak’s guidance, the Pittsburgh-based company has navigated the turmoil better than many of its peers.
Regional bank CEOs in no rush to shift to fast payments
The chief executives of U.S. Bancorp, PNC and Comerica say that fraud, regulatory uncertainty, technological challenges and other concerns are making them approach the adoption of real-time payments with caution.
White House, Sherrod Brown weigh in on allegations against FDIC
Senate Banking Committee Chairman Sherrod Brown is the first Democrat to join Republicans in calling for an independent allegations of sexual harassment and other misconduct at the FDIC. The White House called for speedy confirmation of an FDIC inspector general.
FDIC BOARD OF DIRECTORS NOTATIONAL VOTE
BOARD MATERIALS | NOVEMBER 16, 2023 FDIC BOARD OF DIRECTORS NOTATIONAL VOTE Today the Federal Deposit Insurance Corporation’s Board of Directors by notational vote approved: Final Rule on Special Assessment. Materials and information relative to the Board action are available here: Final Rule on Special Assessment Pursuant to Systematic Risk Determination Memorandum Final Rule Press […]
CFPB report examines causes of medical debt collection complaints
The Consumer Financial Protection Bureau said in an annual report to Congress that unpaid medical debt is plagued by inaccuracies, and that consumers are often faced with opaque pricing and uncertain insurance coverage.
West Virginia governor sues Virginia lender for $1 billion
Gov. Jim Justice alleges that Carter Bancorp engineered a technical default on a multi-million lending relationship and has blocked his company’s efforts to refinance with other lenders. The lawsuit extends a dispute that started after the death of the bank’s founder in 2017.
Challenger bank HMBradley winds down consumer products, pivots to B2B
The neobank’s original problem was that it grew too fast. Its latest was that it grew too slow.