Daily Edition

AI could bring about the worst jobs market in the past century; the good news is we have time to figure out what to do about it.

The average number of days it takes for large bank M&A deals to close has drastically shrunk from the past two years, according to a new report.

Maspeth Federal Savings in Queens has been managed by members of the Rudzewick family, led by long-serving patriarch Ken, for nearly three decades.

The crypto exchange, which closed its original direct deposit service in late 2024, has brought it back for users to set up automated digital asset investing.

JPMorgan Payments processes about $12 trillion in payments per day globally. It is also the largest credit card issuer and merchant acquirer in the country. But to stay on top, the banking behemoth has made it its business to work with, and think like, nimbler fintechs.

Banks are prioritizing AI investments for several reasons, including streamlining operations, reducing costs and improving employee workflows. By comparison, enhancing risk assessment and strengthening cybersecurity ranked lower among the reasons banks are investing in AI.

A proposal from the Federal Deposit Insurance Corp. would require the agency to notify Treasury's Financial Crimes Enforcement Network 30 days prior to major anti-money laundering actions against stablecoin issuers. The rule would also allow issuers to directly share normally confidential information with Fincen during the enforcement process.

The Office of the Comptroller of the Currency has conditionally approved several national trust bank charters for crypto companies. Fabian Dori at Sygnum Bank, which has operated as crypto bank for six years, shares what happens after the charter.

Households are cutting back on spending and buying fewer big ticket items, according to a key consumer confidence report. Higher inflation expectations and recession concerns are driving the pullback.

An automated alert system auto-closed "a very high percentage" of suspicious-activity flags at the bank, the OCC said.

The CEOs of JPMorganChase, Goldman Sachs and Standard Chartered said they're reducing some roles due to advances in AI, the same week the Pope spoke of the need to protect workers.  

The Department of Justice said that Birmingham, Alabama-based Regions sought forgiveness from the Small Business Administration for a Paycheck Protection Program loan that the bank should have known did not qualify.

Tokenization is being adopted from within the system, not alongside it. It's improving how markets operate by making settlements faster, increasing their mobility, boosting transparency and expanding access.

Berkshire Hathaway is narrowing its bank exposure, and sitting on a mountain of money. That says something about the market.

The streamlining is designed to further expedite a process which allows mortgage companies to get a case number for loans on single units even if the building they're in doesn't have one.