BankThink
The supersonic Concorde was one of aerospace technology's greatest achievements. However, its ultimate commercial failure should be a lesson for those pushing AI into banking. Advanced technologies often develop faster than consumers' ability to benefit from them.
-
A comment deadline is approaching on a proposed Consumer Financial Protection Bureau rule that would dismantle longstanding rules meant to protect minorities from discrimination in the market for credit.
December 5
-
A proposed increase to federal deposit insurance levels for certain business accounts is a necessary reform that will support community banks and the communities they serve.
December 5
-
-
As artificial intelligence boosts productivity gains, there is a danger that additional profits will accrue only to investors, leaving workers in the dust. A "10% for the people" tax could allow everyone to share in AI's benefits.
December 3
-
The debate over the "macro" questions about cryptocurrency in the U.S. has been largely settled. We're now entering the "micro" phase, where specific rules and regulations will be written to chart the industry's future.
December 2
JPMorgan's Ben Carpenter will join Evercore as a senior managing director; Wells Fargo appoints Jackie Krese to head syndications within its fund finance group; the SEC is probing Jefferies over its relationship to bankrupt auto parts supplier First Brands Group; and more in this week's banking news roundup.
Former Comptroller of the Currency Eugene Ludwig has written a book called The Mismeasurement of America that lays out the shortcomings of the standard economic data that U.S. government and businesses use to make decisions, and how this data obscures the truth about how low-income Americans are actually faring.
Chris Shelper is now the sole chief banking officer at First Interstate BancSystem; Kristy Fercho joins LERETA's board of directors; Truist Financial launches a business focused on private equity and family office transactions; and more in this week's banking news roundup.
BankThink is American Banker's platform for informed opinion about the ideas, trends and events reshaping financial services. View our