CFPB consumer complaints

The Consumer Financial Protection Bureau's complaint portal has been flooded in recent years, but corporate debt collectors, industry attorneys and consumer advocates question whether the bureau's efforts to reduce the volume will help consumers as much as it helps the firms they're complaining about.

Technology
Montage of logos from Amazon, Google, PayPal and Facebook.

Banks still have advantages in the battle against big tech firms like Amazon and Facebook, but they will need to capitalize on those to survive.

Rohit Chopra, the director of the Consumer Financial Protection Bureau, has cautioned banks, credit unions and fintechs about fair-lending violations that may stem from reliance on artificial intelligence. His comments threaten to discourage financial firms from using the technology to crunch nontraditional data about borrowers, experts say.

Goldman Sachs signage

The New York-based company reported big increases in investment banking and trading revenue, and said it might consider a deal to boost its asset and wealth management business.

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Philip Jefferson

Federal Reserve Vice Chair Philip Jefferson said in a speech Friday that long-term productivity gains brought on by artificial intelligence could compel the central bank to maintain higher rates to keep prices stable.

chart visualization

While the e-commerce giant has deemphasized the technology, banks and payment firms are testing the biometric option.