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Zelle owner Early Warning Services has completed a test of its digital wallet, which it sees as a tool to streamline payments and combat the rising tide of fraud schemes, including those driven by generative AI.

Anne Marie Pippin, associate director in the Federal Housing Finance Agency's Office of Financial Technology, weighs the forces shaping the industry's future.

The Federal Home Loan Bank System is a crucial element of our financial infrastructure. All stakeholders should be included in discussions about reforming it.

The Federal Reserve's vice chair for supervision said the central bank is weighing regulatory and supervisory changes to liquidity management standards. Current approaches, he said, might not be able to contend with the speed of modern runs.

Los Angeles-based City National Bank recorded a $247 million loss during a tumultuous final quarter of its fiscal year. But executives at the bank's Canadian parent company say they expect a return to profitability in the first quarter.

Bakhshi looks back on her nearly four-decade career and reflects on what has changed in the industry over the years.

The Canadian bank reported a 70% decline in profits at its U.S. commercial banking and wealth management unit in the most recent quarter and boosted reserves amid distress in the commercial real estate market.

Sen. Jack Reed, D-R.I., said that synthetic risk transfers make it easier for banks to accumulate risk, thereby making them less able to absorb losses in a crisis.

Democratic Sens. Sherrod Brown, Elizabeth Warren, Jack Reed and John Fetterman say the revised approach would ensure the risks posed by the nation's largest banks are appropriately addressed. International banks, meanwhile, are concerned about the implications of the change.

During a second day of comparatively mild questioning from lawmakers in semiannual oversight hearings, Consumer Financial Protection Bureau Director Rohit Chopra said artificial intelligence could exacerbate existing weaknesses in the financial system without tighter protections.