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OneMain Financial, which mainly offers consumer installment loans, is paying $115 million to buy a small subprime auto lender from the investment bank Jefferies.

New iterations of tools powered by advanced artificial intelligence will aid banks in generating new value for customers, but the lack of regulatory guidance in this area hinders deeper adoption of the technology, panelists and attendees said at The Clearing House's recent conference.

In a settlement with the Department of Justice, Treasury and market regulators, crypto exchange Binance agreed to pay more than $4 billion in fines and for CEO Changpeng Zhao to resign in a sprawling settlement of anti-money laundering and sanctions violations.

Mago, who was fourth on American Banker's Most Powerful Women to Watch list this year, succeeds Brian Fishel, who is retiring.

Shifting from earlier plans, the FDIC has established a special committee to investigate allegations of harassment and a toxic workplace culture at the agency. It will be led by directors Jonathan McKernan and Michael Hsu and may include as many as three nonvoting members from outside the agency.

Many Democrats' bank-regulatory philosophy is driven in significant part by the premise that banks are too profitable and should retain more of their profits to offset their systemic risks. But there is a danger in pushing that assumption too far.

Senior banking leaders are very much aware of and interested in generative AI, but while no one wants to get left behind, there's also no great urgency to be the first mover.

Bankers are hopeful that several factors could strengthen profits next year, including higher loan demand and more stable funding costs as the Fed holds the line on — or even lowers — interest rates.

Only 65.8% of surveyed households said they would be able to come up with $2,000 if an unexpected need arose within the next month, according to the NY Fed's latest survey of consumer expectations and credit access,

The former Trump-appointed Federal Housing Finance Agency head offers insights on the road ahead for mortgage lenders and residential real estate at large.