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Data breach extortion group ShinyHunters used social engineering to steal customer names, addresses and phone numbers from the blockchain lender.

About 70% of bank CEOs said in a recent survey that they are the AI decision makers in their companies. The reasons for this range from the huge impact AI can have on an organization to the fear of missing out. 

A White House Council of Economic Advisers report published Tuesday found that the CFPB cost consumers between $237 and $369 billion since its creation, an analysis that consumer advocates and some financial academics say is flawed.

Beneficial State Bank in Oakland has reached a three-year agreement with the Communications Workers of America. The deal follows a groundbreaking union pact the bank signed in 2021.

Alexis Goldstein, who was terminated from the Consumer Financial Protection Bureau last week, is running for Congress in Maryland's 6th District, which hosts a disproportionate number of federal workers.

Doubling down on what has worked in the past — especially if it's still working now — may inadvertently trap banks into business models ill-suited for the future. Smart bankers make room for change before it is forced on them.

Banks and credit unions are pairing AI-driven efficiency with stable staffing and cross-training to scale mortgage production as originations rebound and technology expands capacity.

The Federal Reserve is moving quickly to implement its proposed "skinny" master account, giving state-chartered fintechs more access to the central bank's payment systems. But experts say a legal challenge to the rule is almost certain, regardless of where the Fed draws the line.

Some observers say changes to MSR risk-weighting would have limited near-term impact and are unlikely to prompt banks to rush back.

The fintech deal market has started to return to pre-pandemic levels, according to recent Pitchbook data, with boosts from big deals like Revolut's fundraises.