Michael Barr said he believes artificial intelligence will have a positive long-term impact on the economy, though it may cause job losses in the short term.
American Express has filed a notice with the attorney general in California informing some of its cardholders that their account information may have been compromised.
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Industry body UK Finance is expanding its pilot of an experimental shared ledger to track banking payments, hoping to join some of the dots in the nascent world of digital assets.
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Companies are taking vastly different approaches to how they implement generative AI, whether it's to empower employees or to overhaul the way they bring products to market.
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With the cruise industry gaining steam after the pandemic, it no longer made sense to force passengers to sign up for a credit card with paper forms. The new process allows applicants to obtain credit they can use in any port — including Carnival's upcoming private island in the Bahamas.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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Hartford Financial Services Group Inc. is betting that enhancements to its variable annuity suite will put it ahead of competitors in the race to offer investors secure retirement income options.
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Gibraltar Private Bank and Trust in Coral Gables is squarely in growth mode. After a management-led buyout of the company from Boston Private Financial Holdings, the 22-year-old institution's asset total and employee counts have risen by respectable margins over the past two years.
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Paul K. Stetter Jr. knows his clients' biggest fear is outliving their savings. Yet, the pragmatic Ephrata, Pa.-based financial advisor doesn't mince words when telling investors how much they'll need for retirement.
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A court ruling deals a blow to efforts by HUD to restrict nonprofit housing funds from operating on a national scale; most banks get another year to implement CECL; PNC chief William Demchak plans to enter more markets and more from this week’s most-read stories.
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The National Credit Union Administration caught flak after it approved raising the threshold for appraisals on commercial real estate loans to $1 million.
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Credit unions reported gains in a number of key areas but member business lending and new auto loans took a hit as overall growth continued to slow.
KeyCorp wasn't seeking capital but saw the benefits of Scotiabank's minority stake. The deal would enable the Canadian lender to step into the U.S. consumer market.
In a paper, former central bank researchers make the case that the Federal Reserve could better support the Treasury market from disruptions in the cash-futures basis trade by hedging its asset purchases.
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Without proper oversight of cryptocurrency exchanges, we will continue to see hucksters and dilettantes making off with customers' funds.
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The models that underpin the central bank's climate risk management exercise are deeply flawed and unsuited to the task at hand.
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The current interest rate environment advantages banks over their fintech competitors. That can't be allowed to stifle invention.
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The agreement, if approved by a federal judge, would end litigation over two distinct cybersecurity incidents in 2021 which affected over 2 million customers.
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The credit union partnered with Happy Money's digital lending and participations platform. TruMark has purchased, but not sold, participations for the past five years.
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The Consumer Financial Protection Bureau has seen a rapid drop in the effectiveness of its cybersecurity program, according to a new report from the Fed's Office of Inspector General.
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In her first public appearance since President Trump moved to fire her from the Federal Reserve Board of Governors, Fed Gov. Lisa Cook reiterated her commitment to bringing inflation under 2% and said that the labor market remains "solid."
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Financial literacy advocate John Hope Bryant has joined with a Los Angeles-based developer in an effort to raise up to $300 million from banks to preserve and construct low-income housing around the country.
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AI is transforming legacy modernization efforts as Wells Fargo builds systems for agents to take on humanlike tasks and interact with one another.
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Huntington's $7.4 billion acquisition of Cadence would give the Ohio-based bank a top-five market share in both Dallas and Houston. It comes just a week after Huntington closed its last Texas acquisition.
In an expanded partnership announced Monday, the card network and payment fintech will enable hundreds of millions of consumers and tens of millions of merchants to use new forms of artificial intelligence for shopping and payments.
The 23rd annual ranking of women leaders in the banking industry.
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