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The New York bank has deployed generative artificial intelligence from Greenlite to help analysts do enhanced due diligence on clients with higher risk ratings.

Net income at the nation's more than 4,000 banks dipped markedly in the final quarter of 2023, though for the full year it exceeded pre-pandemic averages. Deterioration in commercial real estate and credit card lending is a concern, FDIC Chairman Martin Gruenberg says.

During a contentious exchange on his second day of congressional testimony this week, the Federal Reserve chair drew a line between the central bank's response to last year's bank failures and its current capital proposal.

MoneyLion saw continued financial growth in 2023, achieving four straight quarters of positive earnings. In 2024, it plans to develop a partnership with EY to bolster its enterprise services.

But those rates are still relatively high, and that is a barrier to entry for potential homebuyers, Freddie Mac said.

An advocate for the credit union industry pushes back against "tired" and "recycled" criticism from bankers.

To serve an increasingly online audience, POS Nation has acquired agriculture e-commerce platform GrazeCart, an example of vendors joining forces to adapt to shifts in the agriculture industry.

President Joe Biden is expected to lean in on banking issues such as credit card late fees and overdraft fees Thursday evening in his annual address to Congress. However, he likely will avoid the topic of financial-sector stability, even amid a private-sector rescue of New York Community Bancorp.

The Securities and Exchange Commission finalized a pared-down version of rules governing climate-risk disclosure by public companies first proposed in March 2022. Experts say even the weakened rule will likely face challenges in Congress and the courtroom.

The personal finance site is rolling out changes to its app that incorporate AI-powered chat and explanatory articles customized to each user.