NEW ORLEANS – A member of ASI FCU was convicted in federal court Monday for stealing $14,000 from the credit union after its ATMs went offline in the aftermath of Hurricane Katrina. Sehlita Grandpre, 32, kept tapping into the ATM after a storm-related computer glitch allowed members to withdraw unlimited funds from the credit union’s ATM and make unlimited purchases with their debit cards. As many as 10,000 of the credit union’s members overdrew their accounts after the massive storm, as a result of the glitch. More than a dozen of the most egregious offenders have been charged with theft.
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Research shows artificial-intelligence programs bolster bad decisions and reduce diversity of thought, posing risks to banks' culture and governance.
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RIAs that custody less than $100 million with Fidelity have several options to choose from before being forced out of the firm next year. None of them is necessarily easy.
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Federal Deposit Insurance Corp. Chair Travis Hill said Tuesday that regulatory changes to bank supervision and M&A rules are meant to improve safety and soundness rather than water down oversight.
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Attackers suspected of using AI got into Korean banks through side doors. The apparent failures were ordinary cyber hygiene, the kind U.S. regulators keep naming.
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While it isn't a household name in most U.S. wealth management circles, RQD* Clearing just drew a substantial growth investment on the basis of its international clearing business. Can that translate to more stateside RIA relationships?
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A survey of community bankers found broad concern that the emergence of stablecoins will result in deposit outflows and reduced lending capacity.
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