With millions of Alexa and Google Home devices now in use, first-mover banks are rapidly developing services to let customers control their finances using only their voice — even if there are still many kinks to work out.

Credit union-backed legislation sailed through the state legislature and was signed into law earlier this week.

Awards for social responsibility, philosophy-in-action and financial education were given to several credit unions of different asset sizes.

The legislation would let banks postpone the start date of the Current Expected Credit Losses accounting standard and delay categorizing pandemic-related loan modifications as troubled debt restructurings.

Demand for home purchases and car loans would need to increase substantially to make up for what's expected to be a sharp drop in refinancing revenue.

The proposal builds on guidance the agency gave to Fannie Mae and Freddie Mac earlier this year.

The Federal Reserve has engaged in a yearslong series of "Fed Listens" events to sharpen their understanding of the intricacies of the modern economy. Those with the maneuverability to help struggling industries should do some listening of their own.

Banks, especially big ones, have become too dependent on hidden-fee income. As the consumer credit market evolves toward greater transparency, the CFPB's rules will be the least of their problems.

Specialized large language models should be harnessed to help financial institutions identify and halt fraudulent activity. The best model would involve regulator-approved pooling of anonymized customer data.