Comptroller of the Currency Jonathan Gould said in an exclusive interview with American Banker Monday that regulators must bring more new entrants into the banking industry, establish a level playing field between banks and fintechs, and shore up supervision amid mounting legal scrutiny.
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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The government-backed instant processing network has been live only since the summer of 2023, but it's already indirectly boosting usage at an unrelated bank-led rail from The Clearing House.
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Fizz offers a card that enables undergrads to slowly build a debt record based on healthy spending habits, providing an alternative as regulators pressure how financial services are marketed to that demographic.
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Investment banking fees shot up at the nation's largest bank, thanks to rebounds in M&A and the equity capital markets segment. And despite higher credit costs in the company's card business, a top bank executive expressed confidence in the health of U.S. consumers.
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Wells Fargo is ready to recruit more than 200 brokers from Credit Suisse's U.S. private banking unit set to close early next year, with the Swiss bank's blessing.
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Wells Fargo plans to systematically poach Credit Suisse's private brokers in the U.S. and their clients and the Swiss bank is OK with that.
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The widespread adoption of online and mobile banking has largely happened at a time when rates have been near zero. At some point, rates will rise and the value of the experience will be pitted against the value of a yield for depositors. Rate-hoppers will be able to move at an unprecedented speed.
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The company plans to sell more mortgages in the first quarter, which would bring its loan-to-deposit ratio below 100%.
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HELOCs and second mortgages at credit unions are on the decline amid increasing refis and shifts in consumer sentiment about borrowing against their home’s value.
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The lawmakers say they need more information about the administration’s plans in order to conduct proper oversight.
Bankers, fintech entrepreneurs, regulators and other financial services players gathered in New Orleans last week to discuss the future of the industry at American Banker's Digital Banking 2016 conference. Here are some of the highlights of the conference. For more, check out the hashtag #digibank16 on Twitter.
The megabank's scale hasn't made it immune from the deposit wars that have crimped bank profits. But the "stabilization" that Wells Fargo flagged is a positive sign as other banks start reporting earnings.
A cohort of Democratic senators on the banking committee expressed concern over the Department of Government Efficiency's ongoing efforts to cut Federal Deposit Insurance Corp. staff and contracts, saying they worried the efforts could weaken the nation's deposit insurer and expose sensitive bank data if improperly handled.
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CEOs have to determine if this is really a viable business in a viable sector and whether these deposits can be safely used to support the fundamental mission of providing credit to the community.
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Understanding the different aspects of new technologies and how they extend existing financial systems is essential for fostering a healthy relationship between banking and emerging innovations.
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Pride month is the perfect time to take a hard look at the discrimination that LGBTQ people face in the financial services industry, particularly when it comes to obtaining credit.
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The Consumer Financial Protection Bureau plans to transfer its entire enforcement and legal divisions to the Department of Justice and is likely to staff in those units, according to sources briefed by agency leadership.
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American Banker and Best Companies Group are preparing the latest annual ranking of fintech companies that keep their employees happy.
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Investigators found text messages, photos of cash and a conspirator wearing a diamond Truist logo ring while unraveling the $1 million fraud attempt.
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The credit score firm partnered with Plaid to bring additional cash-flow data into its previously released UltraFICO score.
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Reskilling and giving AI the boring work are two approaches banks take to making agentic AI palatable to workers who may fear that bots will take their jobs.
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Federal Reserve Gov. Lisa Cook, citing several studies, outlined her concerns Thursday that generative AI could be used to manipulate markets, and regulators have not yet thought through how to police such activity.
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Airlines and hotel chains are taking advantage of the banking-as-a-service model and favorable debit interchange regulations offered to bank issuers with under $10 billion in assets to bring debit card rewards back to market after they all but disappeared following the so-called Durbin Amendment.
Following the new GENIUS Act, BNY's fund provides a regulated vehicle for stablecoin reserves, distinct from its separate tokenization projects.
The 23rd annual ranking of women leaders in the banking industry.
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