BankThink
Artificial intelligence has the potential to vastly improve many of the services banks deliver. It should be viewed as a catalyst to spark the next evolutionary phase of banking, not a harbinger of doom.
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Banks are increasing their loan-loss provisions, though they say the additions are just precautionary. Are they really?
May 21
American Banker -
Bank trade groups should be content with the compromise hammered out in the Senate Banking Committee over the stablecoin yield ban in the CLARITY Act. Their push to defeat the bill could leave them worse off in the long run.
May 20
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Plaid strikes a deal with OpenAI that would allow ChatGPT users to upload their bank-account data. Is that such a good idea?
May 20American Banker -
New bank capital rules have changed the calculus for many banks in the U.S., eliminating many of the barriers that prevented midsize institutions from growing. The result will likely be a rapid spike in mergers.
May 19
In a move seen to bolster his 2028 presidential run, California Governor Gavin Newsom named Rohit Chopra, the former director of the Consumer Financial Protection Bureau, to lead a new oversight agency; a Pine Bluff, Arkansas, bank employee was sentenced to 36 months in federal prison for bank theft; a Fairfax, Virginia, security administrator has been charged with allegedly stealing more than $6.6 million from his employer; and more in this week's banking news roundup.
The company's new CEO, and long-time chief technology officer, shares his views on why some banks are stuck in old ways of determining creditworthiness, how Upstart has been modifying its underwriting models and the objections people sometimes have to AI-based lending.
Stephan Feldgoise and Joshua Schiffrin will join Goldman Sachs' management committee; Fidelity Investments is dismissing about 800 personnel as it restructures its technology and product-delivery teams; Citi has hired JPMorgan's André Ross as its country officer and banking head for South Africa; 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