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Federal Reserve Gov. Lisa Cook said Friday that she believes tokenization could improve efficiency across the financial system, including faster settlement times and more effective recordkeeping. But those advantages will take place within traditional finance rather than supplanting it, she said.

The Treasury Department held a high-stakes huddle with state insurance officials to discuss risks associated with the rapid growth of private credit in the economy and whether those investments could pose systemic vulnerabilities.

Wealth head Andy Sieg sees bank-based advisors as key to securing more of the $3 trillion its U.S. banking customers hold elsewhere. But he's also looking to AI.

The lenders' examples of using generative artificial intelligence were more practical than transformational, but in any case data challenges represent a common problem.

Sen. Elizabeth Warren, D-Mass., the ranking member of the Senate Banking Committee, warned in a letter to the Office of the Comptroller of the Currency Thursday that its proposed rollback leaves regional banks dangerously unsupervised.

The measure, sent Thursday to the governor's desk, would mark the second state ban on interchange fees and could inform an ongoing bank-led legal challenge to a similar Illinois law.

An April 20 bankruptcy filing accuses Kfir Gavrieli of recruiting friends, family and his synagogue to sign sham contracts that inflated Aspiration's revenue.

Research from American Banker shows that at least a quarter of all respondents see BNPL as a credible threat to credit card revenue.

The megabank's first investor day in four years offered a comprehensive look at how it plans to grow profits and drive higher returns in the coming years. Part of the strategy involves branch updates.

Interpretive guidance from regulators does not deliver the kind of certainty that companies want as they consider expanding into the world of digital assets. Congressional action on the CLARITY Act is the answer.