Federal Reserve Vice Chair Philip Jefferson said Friday that the economic outlook is uncertain and that he was adopting a cautious approach to gauging whether slowing growth and a softening labor market outweigh inflation pressures from tariffs.
The archaic practice of using customers' online banking credentials to copy and paste their account information into other programs has been under fire. With a new API, Wells Fargo hopes to bring this practice to an end.
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Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
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A "true" stablecoin would benefit the economy by improving the money supply, facilitating frictionless payments and lowering the cost of borrowing fiat currency.
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Many banks got shares in the lucrative payments network when it went public in 2008. Some of them are now looking to sell in order to offset losses on their sales of underwater bonds.
Like many financial companies, the brokerage wants to go where customers are. Since that means communicating with them via a third-party platform, it is working through privacy and security issues.
Canadian Imperial Bank of Commerce and Royal Bank of Canada both set aside much less money than expected last quarter to cover loan losses.
The firings are the latest by the president to challenge a 90-year legal precedent that shields members of independent agencies, part of his administration's move to gain greater influence across the government.
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A better understanding of the likelihood of deposit flight would help banks avoid the kind of run that led to the failure of Silicon Valley Bank.
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The Chinese government has forced banks to deny Chinese emigrants access to their retirement savings. What Beijing will demand next is anybody's guess.
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Already well-established in other countries, a conduct risk authority would monitor banks for the kind of risky behavior that the current examination regime might miss.
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The robo-adviser fintech publicly released its S-1 filing on Monday, even as a government shutdown could chill the IPO market.
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The acquisition would allow Fiserv network banks to insure larger deposits and could bolster the company's new foray into stablecoins.
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The bank added an AI assistant to improve business payment tools, a move that comes at the same time that Citigroup and Temenos pushed their strategies for emerging AI at banks.
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Federal Reserve Vice Chair Philip Jefferson said despite the near term cloudiness to economic projections, he does expect inflation to resume its downward trajectory next year and reach the Fed's 2% inflation target in the coming years.
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The Consumer Financial Protection Bureau's union is appealing an appellate panel's ruling that allows acting CFPB Director Russell Vought to fire 90% of the bureau's staff.
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A memo sent to 175,000 employees gives them 60 days to complete the training.
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The fintech SpringFour has partnered with financial institutions to connect individuals to community resources in a record-long U.S. government shutdown.
The Spanish bank says it can connect small and medium-size U.S. businesses with local market experts on its newly launched digital platform Navigator Global.
The 23rd annual ranking of women leaders in the banking industry.
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