The platforms, where bets are placed on everything from U.K. soccer teams to the price of bitcoin, are getting traction from investors and attention from regulators.
CEO Jamie Dimon has called the AI initiative, which includes a vast hiring campaign, "critical to our company's future success."
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The American Fintech Council requested a 30-day extension for buy now/pay later providers to submit information about their businesses to the New York Department of Financial Services. New York is the first state to institute a law specifically regulating BNPL.
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Pressure on Asian merchants that sell to the U.S. caused the Dutch payment company to reduce its outlook. Payment experts say it's a matter of time before other firms face the same challenges.
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Paying for items with your palm or face isn't commonplace yet, but it's coming. What banks need to know.
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Despite the weaker-than-expected results, interim CEO Thomas Gibbons pledged to continue spending heavily on tech upgrades aimed at cutting costs, improving efficiency and developing innovative products.
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The San Francisco bank is also bulking up in Florida and Wyoming, no-tax states where many of its affluent clients have retired or have second homes.
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Thirty-seven years after the release of Quicken desktop software, the company is launching a streamlined app to reach a new demographic.
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A former employee of The Change Company, which is the largest non-traditional mortgage lender in the U.S., claims in a new lawsuit that the firm mischaracterized the race, ethnicity and income of its borrowers. The company says the allegations, which relate to the representations it makes to be certified as a community development financial institution, are meritless.
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Under guidelines proposed this month, credit unions would see changes in the quality standards for computer-generated appraisal systems, along with when and how financial institutions and consumers can request reconsiderations of value.
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The markets had a muted reaction to the Federal Open Market Committee pause on raising short-term rates a week ago, Freddie Mac found.
Large banks have begun sharing their adjusted gender pay gap ratios — how much women are paid versus men for similar jobs. The trouble is, they don’t have similar jobs.
In this week's banking news roundup: Fulton Financial's Angela Snyder announces plans to retire as president of the Lancaster, Pennsylvania-based bank; Columbia Banking System in Tacoma, Washington, finalizes plans for its latest acquisition; Flagstar Financial opens its first private banking office in Florida; and more.
An October staff memo from the Federal Reserve's Division of Supervision and Regulation outlines changes to how supervisory activities will be carried out, including a greater emphasis on relying on examinations conducted by state banking supervisors.
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Long-term partnerships between banks and fintechs are the real future of financial services. Pharmaceutical firms' relationships with contract research organizations offer a useful model.
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The devastation of communities across Southern California will, inevitably, cause tremendous stress on the banks that serve them. This should be a wake-up call for regulators to take climate risk more seriously.
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AI isn't inherently good or bad; its value depends entirely on how it's used. For financial institutions, this means shifting the focus from internal productivity gains to customer outcomes.
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About 70% of bank CEOs said in a recent survey that they are the AI decision makers in their companies. The reasons for this range from the huge impact AI can have on an organization to the fear of missing out.
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A White House Council of Economic Advisers report published Tuesday found that the CFPB cost consumers between $237 and $369 billion since its creation, an analysis that consumer advocates and some financial academics say is flawed.
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Beneficial State Bank in Oakland has reached a three-year agreement with the Communications Workers of America. The deal follows a groundbreaking union pact the bank signed in 2021.
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Alexis Goldstein, who was terminated from the Consumer Financial Protection Bureau last week, is running for Congress in Maryland's 6th District, which hosts a disproportionate number of federal workers.
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Banks and credit unions are pairing AI-driven efficiency with stable staffing and cross-training to scale mortgage production as originations rebound and technology expands capacity.
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The Federal Reserve is moving quickly to implement its proposed "skinny" master account, giving state-chartered fintechs more access to the central bank's payment systems. But experts say a legal challenge to the rule is almost certain, regardless of where the Fed draws the line.
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Research from American Banker finds that executives are under pressure from nonbank firms and are concerned about identity theft in 2026.
The Office of the Comptroller of the Currency Tuesday issued a proposed rule that would create an independent appeals board, de novo review standard for banks and uninsured firms like trusts, OCC says it'll increase trust in the system.
The 23rd annual ranking of women leaders in the banking industry.
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