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In tests run by Corporate Insight, generative AI-based bots like OpenAI's ChatGPT and Google's Bard generally answer questions better than banks' virtual assistants do. 

Fincen's final rule issued Tuesday allows reporting companies to use Fincen identifiers as shorthand for a full list of preapproved beneficial ownership data, which the agency says will streamline the reporting process.

Broader economic factors, including growing household debt, are also likely to keep the housing market stagnant, Freddie Mac said.

The release of ChatGPT a year ago prompted banks to hire for AI-related positions and begin testing uses for generative AI, which can summarize documents, write emails and churn out clever responses to users. JPMorgan is hiring and moving more aggressively than most banks.

Singapore's third-largest lender is again banking on a blockbuster concert partnership to boost fee income, fresh on the heels of its success with Taylor Swift concert tickets.

Officials are looking into the banking giant's anti-money laundering measures with clients outside the U.S.

Roy and Bertrand Sosa have retaken control of Netspend to combine it with their other firm, Rev Worldwide, to build the companies into an international financial services provider.

The proposal fails to account for the needs of small and medium-size businesses, which depend on banking data connectivity to keep their operations running.

Welcome remarks from American Banker Editor-in-Chief Chana Schoenberger for the second day of the 2023 Most Powerful Women in Banking Conference.

The Federal Housing Finance Agency says it wants to more closely tether Federal Home Loan bank advances to housing and community development. Doing so will first involve clearly defining the banks' mission through regulation.