Technology
Tech spending by smaller banks

Community banks count on personal service as a differentiator to win business. But legacy technology issues can get in the way.

Goldman Sachs CEO David Solomon

The New York megabank is working to deploy artificial intelligence as it seeks to make its own operations more efficient. Solomon also sees an "unprecedented" opportunity in financing clients' needs as they invest in AI.

U.S. regulators have reached a rock-bottom settlement deal with a former Wells executive accused of wrongdoing in the phony-accounts scandal. The OCC had sought to recover $10 million from Claudia Russ Anderson, a onetime risk executive at the bank.

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Call for Nominations
Jonathan Gould

The proposed national trust charter company would be a wholly owned subsidiary of Morgan Stanley. The application was filed on Feb. 18.

Preferred Bank moved a $115 million block of loans to nonaccrual status after the borrower, which is battling fraud charges leveled by other banks, began missing payments.