Daily Edition

"Ultimately, adoption and embedding in a company is going to be the differentiator for many firms on whether or not they're successful with AI," said BNY CEO Robin Vince.

Increased use of artificial intelligence led to revenue growth and productivity gains during the second quarter, the bank's leaders said.

Russell Vought, testifying in front of the House Financial Services Committee for the first time in his tenure atop the bureau, was unapologetic about his attempts to cut the consumer protection agency and its regulation and supervision functions.

The investment banking giant has a hefty amount of excess capital, some of which is being used to meet client demand. At the same time, the company is open to opportunities to do bolt-on acquisitions, CEO Ted Pick said.

The ranking Democrat on the Senate Banking Committee pressed the Federal Reserve chair for details on a Bank of America dinner that Gov. Michelle Bowman attended.

Economists at the government-sponsored enterprise have been lowering their single-family origination volume estimates for several months.

Federal Reserve Gov. Lisa Cook said risks, including geopolitical tensions, are tilted toward higher inflation in the near term.

The Buffalo-based company reported its first organic linked-quarter CRE loan growth since 2021, as well as a sharp increase in commercial-and-industrial lending activity.

Coastal Financial, which has added Pliant as a client to support the German fintech's U.S. ambitions, says there's still a need for partners to ease compliance and automation.

Stripe and Advent International have reportedly offered to buy PayPal for $60.50 per share, or $53 billion, a valuation that some think might be viewed as a "low-ball" offer.

As written, new capital standards for U.S. banks fail to account for the additional risk posed by many home loan clients who obtain second mortgages. Fixing the problem will significantly reduce the rule's benefit to banks.

The order stops New York projects at the door. It does not reach the loans and bonds already financing the buildout.

Industry economists and analysts were predicting single digit quarter-to-quarter gains, but a trio of large banks had an over 30% rise in mortgage volume.

The global bank said it's ready to take advantage of opportunities to accelerate investments into its business, with an eye toward achieving longer-term, sustainable growth. Analysts had tough questions about the plans.

The company plans to use the funding to expand its global banking services, including using stablecoins for cross-border payments.