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Acting Comptroller of the Currency Michael Hsu's suggestion that regulators designate certain midsize regional banks as domestic systemically important banks could boost oversight but may also complicate the regulatory landscape, observers say.

Executives at the super-regional bank told investors that years of investments are poised to start paying off in rising profits, but the market seemed skeptical about the company's plan forward.

The Treasury Department's chief AI officer said artificial intelligence can relieve the burden of mind-numbing activities such as anomaly detection and can spur employees to think more creatively.

The penalty by the Office of the Comptroller of the Currency is a major setback for the San Francisco bank, which was freed from a separate anti-money-laundering order in 2021. Its stock price fell sharply after the news broke.

The South Carolina-based bank considers itself a buyer, but has put the 17 months since announcing its last acquisition to good use, reassessing multiple business lines and upgrading technology.

A letter led by Sen. Elizabeth Warren, D-Mass., urges bank regulators to crack down on banking as a service, while another led by Sen. Jack Reed, D-R.I., asks that the Consumer Financial Protection Bureau more closely monitor buy now/pay later companies.

As the toll of financial crime rises, the card network is attempting to boost its fraud-fighting game by buying threat intelligence firm Recorded Future.

Consumer Financial Protection Bureau Director Rohit Chopra said the action would "close the book" on the agency's investigation into the Sallie Mae spinout.

The 30-year fixed rate mortgage fell week-to-week by the largest amount since the start of August and are now almost a percentage point lower than a year ago, according to Freddie Mac.

Executives from JPMorgan Chase, TD, U.S. Bank, M&T and other banks will gather to discuss how they serve small-business clients, what those customers want now and what they expect in 2025 and beyond.