The package of banking measures will need 60 votes — including a number of Democrats — to pass the Senate on a tight time frame ahead of November's elections. But the bipartisan House vote signals that future work on the issues is possible.
The capital markets business, loan growth, credit quality and an improved macroeconomic outlook were all factors in the industry's strong second-quarter results.
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.
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How J.P. Morgan Payments is dealing with smart contracts and using a public blockchain.
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The payment network, which posts second quarter results next week, noted localized boosts in payment volume near match sites in cities such as Boston, New York and Guadalajara.
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A surge in bank charter approvals for fintechs and crypto firms creates new risks for sponsor banks.
Three former senior enforcement officials at the Consumer Financial Protection Bureau have launched Halperin Petersen & Mikkilineni LLP, a new public interest law firm; Ally Financial taps Mark Mathewson as chief information and data officer; Provident Bank names Anthony Petrazzuoli SVP, deposits & payments operations director; and more in this week's banking news roundup.
Only 13% of scams reach federal agencies. The rest land at banks and payment apps, making them the country's de facto scam-reporting system.
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As the regulatory landscape for digital assets becomes clearer, it is vital that stablecoin reserves, custody and settlement services, and the provision of liquidity not be concentrated within a small number of companies.
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Efforts by individual states to rewrite existing rules governing interstate bank lending risk throwing the entire system into chaos. Only Congress has the ability to reestablish a workable set of national rules.
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The new law's reciprocal and custodial deposit provisions recognize what the evidence has shown for two decades. They should spur, not substitute for, the broader work of protecting America's depositors.
There's been an onslaught of nonbank financial technology company charter applications and approvals already this year.
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Like many of its peers, the Chicago-based custody bank posted strong results thanks partly to the downstream effects of a strong initial-public-offering market.
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A Deloitte analysis shows that alternative allocations — to private equity, private credit and other vehicles — in DC plans could grow quickly.
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SEI may not be the first firm that comes to mind when thinking about the industry's custodians, but the firm has built a substantial client base of financial advisors over more than 30 years.
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Economists at the government-sponsored enterprise have been lowering their single-family origination volume estimates for several months.
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Industry economists and analysts were predicting single digit quarter-to-quarter gains, but a trio of large banks had an over 30% rise in mortgage volume.
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Michael Burry, a GSE investor and early predictor of the Great Financial Crisis, is eyeing the senior preferred liquidation preference and a 2028 deadline.
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The payment network, which posts second quarter results next week, noted localized boosts in payment volume near match sites in cities such as Boston, New York and Guadalajara.
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The DTCC piloted a tokenized version of its stock-settlement system. But the real future of trading has to involve currency, not just securities.
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The class action is an early test of whether credit unions can hold their vendors liable for the cybersecurity they promise.
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Schwab directly or indirectly manages only 2% of the $37 trillion in U.S. wealth that could be in the hands of advisors, according to CEO Rick Wurster. The size of the opportunity means there is no need to compete with the firm's RIA clients.
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Two former mid-level employees at the Toronto-based bank received U.S. prison sentences for their roles in funneling nearly half a billion dollars through TD accounts.
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Structural change in banking is rarely defined by technology alone. Rather, leaders who know when to invest, where to modernize and which risks are worth taking are driving it.
National banks are committing billions of dollars to fund the construction. But there's room for smaller institutions and credit unions.
The 23rd annual ranking of women leaders in the banking industry.
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