The Bureau of Labor Statistics reported that the economy added 22,000 jobs in August, raising the unemployment rate to 4.3% and providing additional cover for the Federal Reserve to lower interest rates in September.
The latest generation of anti-money-laundering software uses agentic AI to help alleviate AML alert fatigue. Experts say this use of the technology is promising, though they offer some caveats.
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Early Warning Services is poised to unveil the name of its new bank wallet, hoping to repeat the branding success of its peer-to-peer payments app.
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JPMorgan Chase is planning to test new technology that would let consumers pay with their palms or faces at certain U.S. merchants.
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U.K. regulators warn payment companies, Goldman Sachs invests in Saudi fintech, and more.
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When Grail Advisors officially closes two of its active exchange-traded funds — Technology and RP Financials — before the market bell on Aug. 30, the total universe of active ETFs will fall to just 28.
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After less than a year, Denise Wypiszenski has stepped down from her job as chief operating officer at Robert W. Baird's private wealth management group.
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The court-appointed trustee overseeing the liquidation of Lehman Brothers Holdings Inc.'s broker-dealer business said the adoption of a "living will" could have prevented much of the chaos surrounding the company's historic collapse.
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Fannie Mae and Freddie Mac will be allowed to build capital buffers to protect against losses under an agreement between the Treasury Department and the Federal Housing Finance Agency announced on Thursday.
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Top officials at the Internal Revenue Service met with mortgage industry groups this week to discuss possible fixes to the agency’s verification system, which lenders rely on to process mortgage loans.
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The $280 million securitization is also expected to boost capital levels and lower Dime's loan-to-deposit ratio.
A TD Bank survey found a massive increase in the ranks of people who talk to ChatGPT about their finances. Ted Paris, the bank's head of AI, says banks still have an opportunity here.
Jane Fraser defended Citigroup's recently announced organizational overhaul and specific performance targets, saying the plan is different from prior restructurings because it's designed to fundamentally change how the company operates.
The latest violations come as the bank expects to face more than $3 billion in regulatory fines for anti-money-laundering failures.
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Manual transaction monitoring doesn't scale to the acceleration of online activity, leading to many potential false negatives, and reduced efficiencies as teams demand quick growth and analysts take time to train properly, says Acuant's Jose Caldera.
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The regulator is expected to finalize a rule this week allowing credit unions to issue subordinated debt to outside institutional investors. That's bad public policy, the American Bankers Association writes.
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Using imaging, hyperlinks and other technology can enhance the response to payment disputes, says Chargehound's Pallavi Kuppa-Apte.
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Amy Wierenga is taking on the role at a time when the Trump administration and Republicans in Congress are rolling back certain bank rules. She sees opportunities ahead.
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By using a public blockchain, a potential digital euro could be made more widely available. Plus, Klarna expands its merchant reach as it resurrects plans for an IPO, Binance faces an audit and more in the American Banker global payments and fintech roundup.
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The Canadian bank's stateside unit is hiring bankers and investing in growth, according to RBC Chief Executive Dave McKay, following a rough 2023.
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The amount was less than $1 million, but the plot reveals clues that can help spot and fight elderly abuse and other financial crimes.
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Data suggests that the beleaguered commercial real estate market isn't going to get worse. And now that banks have had time to build reserves, any losses they do take shouldn't be disastrous, analysts say.
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The bank "temporarily" paused home equity line of credit lending in April 2020, over concerns regarding the economic impact of the Covid-19 pandemic.
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The timing of the breach at Connex aligns with data breaches by threat actor ShinyHunters, which uses phone calls to socially engineer victim organizations.
An Office of Inspector General audit says the agency's existing program for overseeing banks' technology providers lacks clear goals and metrics. It recommends the adoption of a new risk-ranking methodology by 2026.
The 23rd annual ranking of women leaders in the banking industry.
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