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Treasury Secretary Janet Yellen acknowledged that a surprisingly robust economy has led investors to assume that the Federal Reserve would maintain high interest rates over a longer period, but said longer-term drags on the economy could upend that calculus.
October 3 -
Activist investor Abbott Cooper, who has been locked in a battle with management at AmeriServ Financial for more than a year, plans to nominate former Amalgamated Financial head Keith Mestrich in a bid to end the impasse.
October 3 -
U.S. Bancorp and Truist picked literal names for their virtual assistants to avoid confusing customers, while Fifth Third and Regions created characters called "Jeanie" and "Reggie" to put clients at ease. Other companies are trying to split the difference.
October 3 -
The high court heard what is likely the last realistic judicial attempt to assert that the Consumer Financial Protection Bureau is structurally unconstitutional. It didn't go well for the plaintiffs.
October 3American Banker -
The payments company launched a $100 million fund for generative AI, creating a potential group of partners that can build on the card network's global scale.
October 3 -
In a case challenging the funding of the Consumer Financial Protection Bureau, justices across the political spectrum questioned where — and whether — the Constitution placed limits on Congress' power to delegate funding for federal agencies outside of annual appropriations.
October 3 -
In a deal arranged by the Federal Deposit Insurance Corp., the Pittsburgh bank has bought a portfolio from the wreckage of Signature Bank. The purchase should help PNC expand its fund banking business, which helps private equity firms manage liquidity and finance investments in the short term.
October 3 -
FedNow and RTP are only going to get better and more efficient as they become interoperable and develop new use cases. It's time to get on board.
October 3Endava -
Employees are still struggling with their financial obligations, and less than half feel good about their financial situation.
October 3 -
The Queens, New York, student inspires change by leading conversations and providing safe spaces.
October 2