BankThink
Know-your-customer rules are a longtime fixture of bank compliance regimes, but as autonomous AI "agents" increasingly access banking systems, new rules for verifying their status are desperately needed.
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Banks are struggling to integrate artificial intelligence into their operations, and one of the major stumbling blocks is regulatory uncertainty. Supervisors need to set clear rules of the road as soon as possible.
December 10
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The administration's haphazard overhaul of financial regulatory bodies has produced confusion and uncertainty. What regulators should be prioritizing now is bringing a sense of stability to the industry.
December 9
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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.
December 8
K.H. Thomas Associates -
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
Rohit Chopra is named senior advisor to the Democratic Attorneys General Association's working group on consumer protection and affordability; Flagstar Bank adds additional wealth-planning capabilities to its private banking division; Chime promotes three members of its executive leadership team; and more in this week's banking news roundup.
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.
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