Oil tankers

Economists and policy analysts say a prolonged disruption in the Strait of Hormuz — and uncertainty about the duration of the conflict — could drive up inflation and further weaken consumer sentiment, which could weigh on bank earnings.

Technology
OpenClaw app on a smartphone

Autonomous large language models sometimes do things they absolutely should not, such as suddenly go off and mine cryptocurrency. Here's what AI-forward banks can do about this problem.

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 regional bank said it's been executing on its strategic priorities and is consequently setting a new, higher target for a key profitability metric.

Scott Bessent

Treasury Secretary Scott Bessent on Wednesday defended cuts to the Community Development Financial Institution Fund in the president's 2027 budget, telling the Senate Appropriations Committee that the program had pursued a "partisan wish list."

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