A data center in Washington state.

Amid warnings that a future slowdown in AI capital spending could pose a systemic threat, executives at Regions Financial said they're preparing the same way they would for any other credit concentration.

chart visualization

In a new paper, the frontier model creator shares how its LLM processes information and generates responses. This could open doors to training, interpretability and governance issues for banks that aim to use it.

William (Bill) Rogers Jr., chairman and chief executive officer of Truist Financial Corp., speaks during a House Financial Services Committee hearing in Washington, D.C., US, on Wednesday, Sept. 21, 2022. The CEOs of the biggest US consumer banks are set to warn lawmakers that Americans are struggling amid surging inflation, as they brace for tough questions about how they're helping customers being pummeled by rising prices. Photographer: Al Drago/Bloomberg

The Charlotte, North Carolina-based bank stopped originating marine and recreational vehicle loans during the second quarter. Executives said the change will reduce net interest income in the short term, but deliver higher profitability over the long run.

House

The package of banking measures will need 60 votes — including a number of Democrats — to pass the Senate on a tight timeframe ahead of November's elections. But the bipartisan House vote signals that future work on the issues is possible.

Technology
Jonathan Gould

There's been an onslaught of nonbank financial technology company charter applications and approvals already this year.

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