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Federal Reserve Gov. Lisa Cook called for weighing the costs and benefits of artificial intelligence, and flagged bias and fraud as areas of concern.
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The Federal Reserve's apparent unwillingness to disclose volumetric details about banks' use of its proprietary faster payments network suggests the central bank is hiding something. That something could be the slow death of faster payments as the new normal.
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The Federal Housing Finance Agency has proposed a change to capital rules on interest-bearing deposit accounts that would increase the Federal Home Loan Banks' flexibility to manage liquidity during times of stress.
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The Chicago-based bank said it would acquire First Security Bancorp in Elmwood Park. The transaction would push it close to $10 billion of assets.
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The new real-time payments system is being optimized for speed, not necessarily security, requiring the banks participating in the program to exercise a heightened level of vigilance.
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Our annual list of the top five teams in banking.
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When BMO acquired Bank of the West, BMO's integration team was tasked with completing more than 1,500 requirements to unify hundreds of systems, including products, services, technology and processes.
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The scuttled acquisition deal with TD Bank challenged the executive management team at First Horizon to come up with a plan to calm investors' and customers' nerves.
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Zions Bancorp.'s core systems team has spent more than a decade transforming the digital system that acts as the hub for all deposit and loan accounts at the bank.
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By collaborating across business lines, the enterprise payments team has been able to quickly share innovations and lessons learned from across the bank.
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