AI is transforming legacy modernization efforts as Wells Fargo builds systems for agents to take on humanlike tasks and interact with one another.
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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TD Bank is among the latest to support Tap to Pay, which allows clients to accept contactless payments on their personal smartphones. Through its investment in Autobooks, it enables others to do the same.
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PayPal expands Tap to Pay for iPhone payments; BNY Mellon's securities services leader exits; FleetCor rebrands as Corpay; and more in this week's banking news roundup.
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In unrelated initiatives, the two companies are extending their use of open banking to create deeper client relationships.
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Lavish trips to award top-performing financial advisers all but disappeared with the financial crisis. Now big brokerages are remaking them in a way that's unlikely to rile Main Street.
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While many parts of the mutual fund industry seem to have recovered, closed-end funds still face troubles that range from increased competition to the lingering effects of the 2008 crisis.
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Carlyle Group is set to raise $950 million for investments in South America as the U.S. buyout firm assembles its first private-equity fund dedicated to the region, a person with direct knowledge of the plan said.
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For four years running, consumer complaints about the three national credit reporting agencies — Experian, Equifax and TransUnion — have dominated the CFPB’s database. What do they keep doing wrong?
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The consolidation of the two companies' securitization platforms into a single bond market became official on Monday.
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The head of Fannie Mae and Freddie Mac’s regulator blamed “burdensome” local regulations for a lack of housing supply, and also provided an update on the administration’s plan for GSE reform.
Banks are looking to beef up ease and convenience in P-to-P payments to avoid being reduced solely to back-end payments processors for fintech startups.
Bank OZK is the latest commercial real estate-heavy bank to announce plans to diversify its business. CEO George Gleason emphasized that he's confident in the bank's loan portfolio, but said he thinks misperceptions are dragging down the stock price.
President Donald Trump's executive order severely limiting the Treasury's Community Development Financial Institution Fund has thrown the industry into confusion as financial companies try to quantify the damage.
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The growing anti-ESG backlash from Republican lawmakers may please the base, but as a practical policy it creates far more problems than it solves.
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If a $6.3 billion subsidy only generates a $304 million return in terms of housing and community development support, is that money well spent?
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A divided Washington needs to come together on an issue of importance to all Americans: improving access to cutting-edge consumer financial services products.
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Nine months after acquiring Heartland Financial, Missouri's largest bank posted a complicated quarter.
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The legacy money transfer firm plans to launch USDPT, a coin designed to improve international payment processing. That and more in the American Banker global payments and fintech roundup.
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Credit analysts say climate risk could still pose a financial threat to financial institutions, even though the federal government has taken an ax to Biden-era climate guidance.
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The bank technology company, which faces market pressure from fintechs, cut its outlook by about 20% and restructured its leadership following the departure of former CEO Frank Bisignano to the Trump administration.
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The lawmakers suggest ties between the former Binance chief and the Trump family could have led to the pardon.
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A district court has agreed to halt compliance with the Consumer Financial Protection Bureau's Biden-era open banking rule while the Trump administration pursues its own rule.
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U.K. regulators approved the acquisition, which is part of Global Payments' plan to scale its point of sale restructuring.
Panelists speaking at American Banker's Most Powerful Women in Banking conference said they appreciate the deregulatory efforts underway under Trump, but said clarity on tariffs and rules of the road for emerging technologies would unlock future growth.
The 23rd annual ranking of women leaders in the banking industry.
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