Ally Financial has launched a mobile app that uses geolocation to caution smartphone-carrying customers when they are arriving at stores where they overspend.

Profits soared at First Republic Bank in San Francisco thanks to lending growth in several categories and its expansion in wealth management.

Banks are slowly warming up to the idea of open APIs, essentially tools that allow banks to easily connect with others, but BBVA's Shamir Karkal says that they will likely also push banks to modernize their core systems.

Accommodations for borrowers affected by the coronavirus pandemic, such as payment delays and fee waivers, are "positive and proactive actions that can manage or mitigate adverse impacts," the regulators said.

Refinancing activity is surging, existing borrowers are inquiring about loan modifications, loan closings are being delayed by more complex credit checks — and banks are short on people to handle it all.

Forbearance and loan-modifications programs implemented after the financial crisis left borrowers bewildered and angry. Now the mortgage industry wants to create a common standard for providing relief to homeowners whose livelihoods have been upended by the coronavirus pandemic.

In his new book, "The Song of Significance," Seth Godin, a business management author, dives into how executives can rethink being profit driven and help create meaning in the work for employees.

Artificial intelligence can and should be integrated into the business of banking, but with adequate safeguards in place to mitigate the technology's potential vulnerabilities.

The real threat is from undercapitalized banks, and regulators must require large banks to have enough capital to eliminate that threat.