The economy added an unexpectedly robust 119,000 jobs in September, though unemployment edged up to 4.4%. The report, delayed by the federal government shutdown, continues a trend of sluggish job growth in recent months.
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.
-
The Biden administration should widen the scope of its junk fee initiatives and provide small- and medium-size businesses with relief from excessive international payments charges.
-
The rocky journey and abrupt end of the technology company's fledgling buy now/pay later service underscores ongoing challenges facing fintechs that offer point-of-sale installment loans, and how banks may benefit from the changing BNPL ecosystem.
-
The organization says 'request for pay' has gotten early traction with billing and account-to account transfers. Now it's targeting consumer-to-government and digital wallet disbursements.
-
KeyCorp in Cleveland has hired Gary Poth as head of its family wealth division at Key Private Bank.
-
A growing number of startups and banks are trying to design digital experiences that train users to manage their money more responsibly, starting with small amounts in mundane situations.
-
First Republic Bank in San Francisco has agreed to purchase Constellation Wealth Advisors for about $115 million.
-
Top officials at Bank of America and Wells Fargo said that commercial loan demand is weak, even as U.S. consumers show strength. Their comments echo recent findings by the Federal Reserve.
-
The San Francisco fintech company has agreed to pay a $110,000 fine for failing to comply with a 2017 state law that requires mortgage servicers to be licensed.
-
The National Credit Union Administration is hosting an event on equality and inclusion, which will include industry leaders discussing best practices for embracing these ideals.
The Federal Reserve detected more than 50 breaches of its computer systems from 2011 to 2015, Reuters reported, adding to signs that the central bank may be vulnerable to hackers or spies.
Democratic Gov. Gavin Newsom signed measures designed to bolster consumer protection rules. The bills target several issues that have also been percolating at the federal level.
U.S. District Judge Tanya Chutkan said the Environmental Protection Agency could not suspend the previously awarded funds. The case put Citigroup in the crossfire of a legal battle between climate groups and the Trump administration.
-
Artificial intelligence can help cut bias out of credit models. The Consumer Financial Protection Bureau should make it easier for lenders to adopt it.
-
During the pandemic, many banks adopted programs that helped struggling families find stability. Make that a permanent strategy.
-
In recent years, stress tests have not accounted for some very clear real-world risks. This must change immediately.
-
Quality Control Advisor Plus is an integrated system which brings together previously separate units, cutting months off of Freddie Mac's current QC process.
-
The country's second-largest bank has unveiled a digital platform for retirement decisions — not on how to save, but how to disburse those savings in a steady, sustainable way.
-
The financial services firm based in Houston tried to buy a Chicago community bank three years ago as part of a plan to offer traditional banking and digital asset services on one platform. With Illinois state approval secured, it now awaits a decision from the Fed.
-
The bank is adding trusted contacts, specialized teams and new tech against scams, but consumer advocates say reimbursement is the key missing piece.
-
Oresar, who joined BMO as head of treasury and payment solutions sales after more than two decades at JPMorgan Payments, spoke with American Banker about her priorities leading a new team; the importance of organic mentorship; and what clients are asking for to keep up with the fast-paced change that's happening to the payments industry.
-
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.
- Daily BriefingDelivered Every WeekdayIdeas that impact your business delivered to your inbox every day.
- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
Tougher contracts and more transparency are two of the improvements that have come about since the banking-as-a-service middleware provider's bankruptcy, practitioners say.
Two government-sponsored enterprises are looking into expanding mortgage transfers between borrowers, according to the head of their oversight agency.
The 23rd annual ranking of women leaders in the banking industry.
- Sponsor Content from NTT DATA
- Sponsor Content from LexisNexis® Risk Solutions
- Sponsor Content from Temenos
-
Sponsored by Protiviti
