Under Smith's leadership, 56% of Zion's workforce uses generative AI for routine tasks such as reviewing contracts and prioritizing emails.
Chase Pay is tied to the issuer's 94 million credit, debit and prepaid card accounts, representing half of U.S. households. Depending on the perspective, this means Chase's wallet either starts with or excludes half of the market.
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Lenders collected an estimated $25 billion in additional interest income last year by raising the average margin on annual percentage rates, or the amount above the prime rate, according to the Consumer Financial Protection Bureau.
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The payment company is working with Google Cloud to develop new forms of machine learning on a larger scale.
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The credit card lender's blockbuster acquisition of Discover is not guaranteed to get across the finish line. But co-founder and CEO Richard Fairbank appears to see the rewards that would come from controlling a payments network as outweighing the potential downside.
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.
Former employees of the Austin-based City National Bank still recall the 1981 flood that deluged the city and Whole Foods, and they take pride in the lender's role in rescuing what was then a fledgling health food store.
The Trump administration's orders to stop supervisory exams at the Consumer Financial Protection Bureau are seen as a potential conflict of interest for Elon Musk, whose company X would have been overseen by the bureau when it launches its payments wallet.
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The National Credit Union Administration must justify its sharply higher operating budget for next year.
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Investors are learning the hard way, again, that highflying new financial products, with little or no regulatory oversight, tend to crash.
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The National Credit Union Administration can no longer examine third-party vendors and service providers. That leaves the industry vulnerable to cybercriminals and other bad actors.
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Former employees at First Horizon Bank and M&T Bank committed crimes by misappropriating customer data and stealing money from a customer's bank account.
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Andrew Foster, the bank's chief data officer, explained how he has been instilling data discipline across the organization and making the bank's data AI-ready.
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The Office of the Comptroller of the Currency will announce Senior staffers overseeing large, regional and community banks early next month, apparently reversing the unified approach to supervision it implemented earlier in the year.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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The United States cannot assume its early lead in stablecoins will last. Dollar-pegged tokens dominate today, but Japan's clear regulations and institutional adoption could mean yen stablecoins dominate tomorrow.
The 23rd annual ranking of women leaders in the banking industry.
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