Technology

SunTrust has removed a clause from its severance agreement that laid-off employees claimed would have put them on call for two years to answer questions without compensation. Loss of institutional knowledge may be the cost of offshoring.

Philip Jefferson

Federal Reserve Vice Chair Philip Jefferson said in a speech Friday that long-term productivity gains brought on by artificial intelligence could compel the central bank to maintain higher rates to keep prices stable.

oil-drill-fotolia.jpg

Texas Dow Employees Credit Union has agreed to acquire Sabine State Bank and Trust in Louisiana to raise its profile in the oil-and-gas industry. The deal coincides with record levels of U.S. drilling this year.

NYGovHochulBL

The New York Department of Financial Services has proposed several changes to overdraft fees including banning banks from charging more than three overdraft or nonsufficient funds fees per consumer per day.

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SWIFT global messaging app

There are regulatory and technology efforts to reform international payments, but it's a multifaceted, long process. Swift, The Federal Reserve, and fintechs like Wise and Revolut are pushing potential solutions. Here's what banks need to know.

First Citizens Bancshares

The North Carolina bank is the latest lender impacted by the bankruptcy of U.S. auto parts maker First Brands. First Citizens executives said credit was in good shape overall.