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In order for artificial intelligence to be useful, it has to be powered by accurate information, three community-bank executives agreed at a virtual panel hosted by American Banker.
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The Office of the Comptroller of the Currency issued an interim final rule Friday to clarify banks' leeway to charge interchange fees, explicitly blocking the applicability of a law passed in Illinois that would ban charging interchange fees on taxes and tips that goes into effect in July.
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American Banker's BNPL Tradeoff Survey finds risk and regulatory fears are leading many banks and credit unions to hold off on offering the lending product.
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In evaluating Enova's proposed acquisition of Grasshopper Bancorp, regulators must decide whether to allow lending products with annual percentage rates of nearly 100% into the national banking system.
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The cryptocurrency company has collaborated with payment tech firm Nium to enable conversions to traditional currency, a play to boost use of the digital assets for payments and diversify Coinbase's revenue sources.
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Fintech firm IntraFi's most recent quarterly survey of bank executives showed rising pessimism among bankers related to "instability in Washington," as well as growing concerns about technology-enabled fraud.
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