Technology
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The project is likely to be mirrored at banks around the country as the automated clearing house evolves from settling payments in three to five days currently to same-day settlement in September and faster payments beyond that.

Letter from the Editor

Research, insights and data on how banks and financial institutions are using AI can now be found in a new location on American Banker.

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Royal Bank of Canada reorganizes its executive leadership ranks; pending startup BankMiami gets approval from Florida's Office of Financial Regulation; Rize Credit Union's Julio Jimenez-Wenz joins Nevada Commission on Minority Affairs; and more.

Russell Vought

Acting Consumer Financial Protection Bureau Director Russell Vought said all diversity, equity, inclusion and accessibility policies "will cease immediately," adding that employees may be investigated if they go against the order.

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Call for Nominations
CarverBL1027

Spring Bank CEO Barry Mann has accumulated a 6% stake in New York City-based Carver Bancorp. Carver has a history of underperforming, but Mann is optimistic about its chances under new CEO Donald Felix.

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The number of states with earned wage access legislation doubled in 2025 with six states passing new laws. Connecticut regulators have been particularly strict, creating conflict between lenders and the government.