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Federal Reserve Board Gov. Lisa Cook said artificial intelligence holds great promise for the economy, but stressed the importance of human choice in decision making, both financial and otherwise.

Thomas Nides, a former U.S. ambassador to Israel and longtime Morgan Stanley executive, will take over the megabank's public affairs division as its work to fix regulatory concerns continues. He succeeds Bill Daley, the former chief of staff to President Barack Obama, who recently announced his retirement from Wells.

Federal prosecutors say Menendez, a New Jersey Democrat who sits on the Senate Banking Committee, accepted bribes in return for exerting political influence — including helping Fred Daibes, a small-bank executive who had been accused of loan fraud.

At the Sibos conference, cybersecurity leaders at banks and other experts debated how to train employees to thwart threats that AI has intensified.

The artificial intelligence revolution has arrived. NYC's CTO, Matthew Fraser, tells American Banker's Executive Editor of Technology, Penny Crosman, how new technology is shaping policy in America's largest city.

The annual program recognizes financial technology companies with the best missions, cultures and benefits.

Federal Reserve Gov. Michelle Bowman, who has emerged as a leading opponent to the central bank's recent efforts to raise capital requirements, said it was "absolutely imperative" that banks make their concerns heard.

The move to create data consortia and proprietary information networks is creating exactly the kind of information silos that money launderers exploit today.

The company's scale has helped it become a force in many payment niches, but that wasn't enough to make its PYUSD coin an immediate threat to Tether's USDT and Circle's USDC.

The top five banks have an average reputation score among noncustomers of 70.7 in 2023.