PSB Group, Inc.

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Payments

Discover cuts its profit to resolve its old merchant missteps

Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.

By Kate Fitzgerald

40m ago
Artificial intelligence

Stanford researchers say large language models favor white-sounding names

Tests of models from OpenAI, Google and others found their advice tends to disadvantage names commonly associated with racial minorities and women.

By Penny Crosman

46m ago
Regulation and compliance

Fed's Bowman says she sees path forward for altered capital proposal

Federal Reserve Governor Michelle Bowman said she believes there is a feasible path forward for the revised capital reform proposal, emphasizing the importance of making broad changes informed by industry feedback to achieve broad consensus among Federal Reserve board members.

By Ebrima Santos Sanneh

1h ago