PHOENIX — After applauding CUNA and NAFCU for a "significant step forward" in forming the joint task force on corporates, the Arizona CU League's Pat Bodnar said, "ACUL feels that it is premature to form an opinion at this time regarding the potential impact of the recommendations outlined in the task force report. It is essential to communicate with our member credit unions about any important issues impacting the credit union movement. We have asked that our member credit unions provide comment on NCUA's Advanced Notice of Proposed Rulemaking. Each credit unions' individual situation is unique, influencing their comments. A statewide collective opinion has not been determined, however we are reaching out to our credit unions to gather their thoughts and reactions in order to support them in the best way possible."
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Jay Plum, head of consumer lending at Fifth Third Bank, says artificial intelligence is fundamentally shifting relationships between banks and their third-party software vendors, allowing banks to do things on their own that they would previously rely on vendors to do for them, like identify risky loans and prepare for exams.
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A new analysis from the White House's Council of Economic Advisers says the banking industry's fears about deposit flight are overstated. Experts familiar with the banking industry's concerns say the report's conclusions are beside the point.
April 8 -
The card brand introduced tech for businesses to tap agentic AI, while Revolut counters Italy's accusations of inaccurate marketing. That and more in the American Banker global payments and fintech roundup.
April 8 -
The Treasury Department Wednesday proposed a set of rules that would require stablecoin issuers to abide by risk-based anti-money-laundering programs similar to those that banks must employ, as well as secondary market monitoring and independent testing by issuers.
April 8 -
Closing its Brex acquisition adds a corporate-focused fintech and new agentic commerce tools to an already considerable consumer payments division.
April 8 -
American Banker data found that those who upped artificial intelligence spending by more than 25% in the last year saw major improvements in employee output.
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