Banks should take a page from the health sciences' playbook and use artificial intelligence to "nudge" consumers away from transactions that have the characteristics of known fraud schemes.
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A proposed rule published Tuesday in the Federal Register would limit the Consumer Financial Protection Bureau's ability to designate nonbank entities for supervision.
August 26
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The Federal Deposit Insurance Corp. said Tuesday that bank profits slipped slightly in the second quarter as the Capital One-Discover merger drove provisions higher. Loan growth, deposits and insurance fund reserves showed positive signs despite ongoing credit issues.
August 26
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President Trump posted a letter on social media addressed to Federal Reserve Gov. Lisa Cook, informing her that he was terminating her due to allegations of mortgage fraud. The move is likely to tee up an unprecedented legal fight over the Fed's independence.
August 25
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Bank industry advocates, housing groups and CRA veterans say the rule is overly complexity and burdensome, but even they agree pre-approving CRA-eligible activities was a good idea.
August 25
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The online gambling operator, which was recently fined $450,000 by Massachusetts regulators, indicated that its new policy is designed to protect customers from cash-advance fees.
August 25
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The deal will allow Workday to offer Chime Workplace, the neobank's suite of enterprise financial wellness solutions, to its clients. For Chime, the partnership provides a wider reach to new potential deposit accounts.
August 25
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A banking union calls the reversal by Commonwealth Bank "a massive win," but warns the fight to protect human jobs from AI replacement isn't over.
August 25
Each of the top-performing banks with more than $50 billion of assets used their own mix of revenue streams to drive performance.
Big banks with the strongest financial performance varied in asset size, geographies and services.
Among banks with between $10 billion and $50 billion of assets, those that targeted narrow lending markets rose to the top.
A proposed rule published Tuesday in the Federal Register would limit the Consumer Financial Protection Bureau's ability to designate nonbank entities for supervision.
The Federal Deposit Insurance Corp. said Tuesday that bank profits slipped slightly in the second quarter as the Capital One-Discover merger drove provisions higher. Loan growth, deposits and insurance fund reserves showed positive signs despite ongoing credit issues.
Banks should take a page from the health sciences' playbook and use artificial intelligence to "nudge" consumers away from transactions that have the characteristics of known fraud schemes.
Aron Levine, the Canadian bank's new U.S. president, said BMO intends to invest in technology and spend more on branches. The company's moves, which also include the recent combination of its U.S. businesses, are part of a plan to boost its return on equity.
A proposed rule published Tuesday in the Federal Register would limit the Consumer Financial Protection Bureau's ability to designate nonbank entities for supervision.
The Federal Deposit Insurance Corp. said Tuesday that bank profits slipped slightly in the second quarter as the Capital One-Discover merger drove provisions higher. Loan growth, deposits and insurance fund reserves showed positive signs despite ongoing credit issues.
Banks should take a page from the health sciences' playbook and use artificial intelligence to "nudge" consumers away from transactions that have the characteristics of known fraud schemes.
Both consumers and banks reported that the rate of fraud and scams has steadied, according to Fincen and FTC data, but the total cost continued rising.
Honorees from 2024's Most Influential Women in Payments, representing companies such as MoneyGram, Walmart, Segpay and more, share insights into how how artificial intelligence is changing their companies and their industry.
American Banker's Most Influential Women in Payments share their views on artificial intelligence, hybrid offices, real-time payments and more.
In her day-to-day job directing activities at the card network's Start Path accelerator, Sabrina Tharani helps nurture companies that are developing new payments products and services.
- "We want to put banks in the risk management driver's seat," says Sima Gandhi, co-founder of the Council for Fintech Ecosystem Standards, which has worked with a group of fintechs to create risk and compliance standards banks can use to evaluate their fintech partners.Sponsored by IntraFi
- Software code generation and knowledge management are two of the places the bank has begun using generative AI to improve efficiency.Sponsored by IntraFi
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The President said in response to a press question about Federal Reserve Gov. Lisa Cook that he would fire her "if she doesn't resign" over allegations of claiming primary residence at two properties she owns, though the legality of such a move is unclear.
August 22
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As part of its U.S. market strategy, the U.K.-based neobank is offering New York City commuters cashback on public transit fares when they open a new account.
August 22
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Federal Reserve Chair Jerome Powell said Friday that while the central bank must "proceed carefully" in considering interest rate adjustments in the coming months, recent softness in employment "may warrant adjusting our policy stance."
August 22
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Federal Reserve Vice Chair for Supervision Michelle Bowman floated the idea of allowing employees to hold small amounts of digital currencies, arguing that it would help with retention and understanding of the product. But some questions whether the move will yield those results, or raise ethical problems instead.
August 22
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As more states pass legislation, it's become a challenge for firms to stay on top of compliance. Executives spoke with American Banker about their strategies.
August 22
