Artificial intelligence is bringing revenue increases and expense reductions throughout Bank of America, Hari Gopalkrishnan, chief technology and information officer, said at an event Monday.
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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A reader takes issue with a column by the agency's former director in which she criticized its analysis of the consumer credit card market.
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The Swedish financial institution argues over potential regulations that treat buy now/pay later lending like credit cards in the U.S.; Discover seeks the next hot market for real-time payments; and more.
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The Illinois state legislature, as part of an agreement with retailers to raise state tax revenue, passed a budget bill that would bar the collection of interchange fees on sales taxes, excise taxes and tips for transactions that would be subject to Illinois sales taxes.
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Royal Bank of Canada, the country's second-largest lender by assets, said quarterly profit rose 11 percent on gains in Canadian banking and wealth management.
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From streamlined sales improvement tips to monsters in the Affordable Care Act, EBA has the best bloggers in the business who share their take on whats hot in benefits. Take a look at the top 10 blogs of 2014 for a range of advice and business acumen.
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Millennial women are making great strides in the workforce, but still "channel their inner ninth grade insecure freshman when it comes to financial matters," according to Fidelity's head of personal investing.
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The move to alter the government's preferred stock purchase agreements is the first major one under FHFA Director Mark Calabria's tenure to wind down the conservatorship of the government-sponsored enterprises.
- Most Powerful Women in Banking, standout fintechs, Corbat on gender pay gap: Top stories of the week
Cathy Bessant, BofA’s chief operations officer, is the Most Powerful Woman in Banking; 6 standout fintechs at Finovate 2019; the Citi CEO says gender pay gap is ‘a challenge we need to tackle together’; and more from this week’s most-read stories.
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The three federal banking agencies moved to raise the threshold for residential transactions that require an appraisal from $250,000 to $400,000.
Entrepreneurs and other financial-technology experts give some common-sense advice including: watch your pennies, live in the right places and choose your associates carefully.
The latest violations come as the bank expects to face more than $3 billion in regulatory fines for anti-money-laundering failures.
A federal appeals court panel seemed open to accommodating the Trump administration by putting some conditions on a preliminary injunction that has blocked it from reductions in force at the Consumer Financial Protection Bureau.
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Federal officials should have protected both banks' uninsured depositors by following the law's carefully designed framework for dealing with failures of systemically important banks.
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Main Street companies, particularly those owned by women and minorities, depend on the flexibility of community and regional banks for their survival.
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The proposal to streamline the Small Business Administration's signature program and expand the number of available lending licenses would benefit underserved communities.
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Fed Gov. Stephan Miran has spent his short tenure at the central bank arguing that disinflation in housing and immigration reforms will tamp down inflation in the near term. But other economists say the timing, degree and context of those effects is very much in question.
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Central Bancompany said in a presentation to investors this month that it's looking to overhaul its core technology and data systems, while also hunting for a deal.
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The Consumer Financial Protection Bureau Thursday will publish a revamped version of its Section 1071 small business data collection rule, dramatically scaling back the data to be collected and the number of lenders who must comply.
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An appeals court's decision will make it harder for consumer-lending-focused fintechs to operate in Colorado. But the impact could eventually be felt more widely, according to both industry groups and consumer advocates.
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The new rules require banks in the ACH network to implement risk-based monitoring to combat rising fraud and scam schemes.
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As opportunities grow for private student lending, Sallie Mae has entered a multiyear "strategic partnership" with the world's largest private equity firm.
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- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
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- Best of the WeekFridayThe most important and widely read stories from the previous week.
Michael Barr said he believes artificial intelligence will have a positive long-term impact on the economy, though it may cause job losses in the short term.
The Federal Reserve Board finalized changes to its supervisory rating framework, allowing large bank holding companies to be considered "well managed," even with one deficient rating.
The 23rd annual ranking of women leaders in the banking industry.
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