BankThink

Boards of directors have ultimate responsibility for the health and safety of their banks. The deployment of AI-enabled systems opens the door to a vast array of new risk factors that they need to recognize.

As bank regulators work to create a more transparent and effective supervisory process, they should overhaul the process for appealing their rulings to include challenges to enforcement actions.

Banks want to reclaim their position as the central node in the customer relationship by charging fintechs and data aggregators for access to permissioned customer data. How the legal questions about this are resolved will be a telling moment for all concerned.

Well-regulated stablecoins will open the door to a wide range of financial activities, including 24/7 global markets for any asset class imaginable. Traditional banks should take note.

Noelle Acheson pulls the bill that would ban the Federal Reserve from issuing a central bank digital currency into the spotlight and argues that it's overreaching, unnecessary and distracts attention from more pressing privacy issues.

Businesses accepting payments in stablecoins on a public blockchain are making vast amounts of data available to their competitors. For the technology to really take off, a privacy-preserving solution is needed.

The CFPB must unequivocally state that consumers own their financial data and prohibit financial institutions from monetizing access to it. No one, not even the biggest bank in the country, should dictate with whom consumers can share their data.

Theft of paper checks and their use in identity theft constitute a major blind spot in the private sector's fraud detection networks. Banks and regulators need to come together to find solutions.

The banks have invested in gen AI and embedded finance, respectively.