Faraz Shafiq, formerly of AWS and Google, will oversee the bank's vision for enterprise-wide artificial intelligence initiatives.
Large banks like Wells Fargo have started using "cyber ranges" and "red teams" to respond to real cyberattacks on virtual versions of their real systems.
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Vectra Bank Colorado President Bruce Alexander is retiring after 25 years with the bank; Unilever Federal Credit Union in New Jersey was shut down by NCUA; Vista Bank hired Bob Mahalik in preparation for Texas bank M&A; and more in this week's banking news roundup.
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Unexpected changes in spending patterns on the P2P app caused the company to miss internal and analyst targets, resulting in a more cautious shift in its annual guidance and a plummeting stock in afterhours trading.
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As Trump's trade war causes politically influenced shifts, the card brand contends it is set to pick up volume in non-American corridors.
An executive at the Rhode Island company said the complexity of business lending remains an obstacle to switching to entirely automated, paperless operations.
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What the bank is doing differently with its personal financial management tools could be instructive to the many institutions that haven’t gained much traction with similar offerings.
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A sullied reputation and frustrations with bureaucracy have driven some advisers to the competition.
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The bureau says it lacks explicit authority to conduct routine supervision of lenders’ compliance with service member protections, but the decision has sparked pushback from the Defense Department and groups representing military personnel.
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GOP opposition and a packed Senate agenda have delayed the vote on Julia Gordon as head of the Federal Housing Administration. But industry representatives say that with FHA delinquency rates still elevated and loan forbearance plans expiring, there's an urgency for Congress to confirm her by year-end.
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The federal bank regulators had relaxed certain requirements in April 2020 due to the COVID-19 crisis. But they said in a new joint statement that servicers “have had sufficient time to adjust their operations” since that time.
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With its agreement to buy KS StateBank’s residential mortgage operation, Kansas-based Armed Forces is going all in on home lending.
The top five banks and thrifts had combined assets of more than $13 trillion as of Dec. 31.
Sen. Ron Wyden says Treasury is sitting on thousands of Epstein-related banking records including wire transfers, payments and suspicious activity reports that could expose the financial industry to scrutiny over its involvement in Epstein's sex-trafficking scheme.
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The Federal Deposit Insurance Corp.'s focus on implementing stricter control over brokered deposits is misguided, a former chairman on the agency writes, and misses the real lessons of 2023's bank failures.
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The same creativity and flexibility that community development financial institutions bring to business lending ought to be applied to financing affordable housing.
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The Bank of Japan's interest rate hike and plan for quantitative tightening have international markets scrambling to adjust to a new reality in which carry trade credit is tighter and a U.S. downturn is somewhat more likely.
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A new American Banker experience, designed for today's leaders, launches today.
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The bank's AI-based virtual assistant, which began development 10 years ago, is now used by 42 million customers and more than 200,000 employees. It does everything from sending wire transfers to unlocking corporate phones.
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The regional bank recorded $130 million of legal charges during the fourth quarter in connection with the resolution of a legal battle involving overdraft fees. Its earnings also took a hit from $63 million in employee severance costs.
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Though fourth-quarter net charge-offs reached a level not seen since the financial crisis, the Little Rock, Arkansas-based regional bank is forecasting better results in 2026 and an even stronger recovery in 2027.
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The collapse of the illicit escrow marketplace disrupts a major hub for "pig butchering" scams, though experts warn the ecosystem will likely fragment.
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The Providence, Rhode Island-based bank has steadily revamped certain parts of its strategy. Now, it will update its systems for serving customers.
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Warren, Wyden, Whitehouse, Welch and Schatz say the administration's memo contradicts public statements, and they want more answers on whether the administration is working with top U.S. banks to funnel money out of the South American nation.
White House National Economic Council Director Kevin Hassett said Friday that the administration expects banks to voluntarily issue "Trump cards" with 10% rate caps, a move that could quell Congress' moves to impose a cap through legislation — but that's no guarantee.
The 23rd annual ranking of women leaders in the banking industry.
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