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.
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.
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Washington policymakers are not adopting policies necessary to keep the U.S. on the cutting edge in payments. Fortunately, the dual banking system offers an alternative path forward.
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Micromanaging the terms under which payment networks are willing to process debit-card transactions is bad for both businesses and consumers. Congress has the power to roll back intrusive regulations.
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The financial institution, which downsized earlier this year, is trying to broaden its scope to retain businesses that don't want to use multiple providers.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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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 will significantly boost its origination volume after buying 51% of BrandMortgage.
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The company will hold off on making loans under the Advantage Loan program as it conducts an audit and implements new policies and procedures.
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The banking industry could finally have answers soon on the degree of agreement between regulators reforming the Community Reinvestment Act, how they envision CRA zones of the future and other key matters.
The Canadian bank's stateside retail operations will be hamstrung by a massive anti-money-laundering settlement. But executives said the company can lean on both its Wall Street business and lines of revenue north of the border.
Federal Reserve officials have all but conceded their claims to bank oversight independence while holding fast to monetary policy independence. But whether that line will hold is an open question.
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The idyllic existence of Federal Home Loan bank leaders has persisted for 90 years. Now the castle walls may be crumbling.
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Recent bank failures point to the need for banks to expand their customer base. That might require stepping outside your comfort zone.
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Just as the United States is getting good news in its war against inflation, the picture is very different across the pond. Some of that is bad luck, but there are lessons on what not to do as well.
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Federal Reserve Gov. Christopher Waller said in a speech Monday that private and public-sector data suggests that the labor market is continuing to weaken, making a 25 basis point rate cut in December a prudent choice.
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Quality Control Advisor Plus is an integrated system which brings together previously separate units, cutting months off of Freddie Mac's current QC process.
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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.
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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.
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The bank is adding trusted contacts, specialized teams and new tech against scams, but consumer advocates say reimbursement is the key missing piece.
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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.
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The Department of Justice told a court that the Consumer Financial Protection Bureau cannot legally request funding from the Federal Reserve System, arguing that the Fed has not turned a profit since 2022 and thus cannot fund the CFPB.
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.
The 23rd annual ranking of women leaders in the banking industry.
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