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Big-bank executives explained this week why they're still investing in their physical footprints, even as AI advances rapidly and financial technology firms wade deeper into the banking business.
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Office of Management and Budget Director Russell Vought told the House Budget Committee Wednesday that the Community Development Financial Institutions Fund is still a target for elimination by the administration because it promotes "woke" ideology.
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The topic of AI implementation came up on several big banks' first-quarter earnings calls. Morgan Stanley CEO Ted Pick said Wednesday that the firm views AI as a friend.
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Brazil's real-time payment rail is adding PayPal as an option for small- to medium-size business payments; HSBC is launching a Hong Kong dollar-denominated stablecoin; Sezzle expands BNPL; and more in this week's global payment roundup.
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A sharp decline in charge-offs, as well as lower volumes of criticized and nonaccrual loans, gave the Buffalo-based regional bank the confidence to operate with a smaller capital cushion.
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Nir Zuk, who founded cybersecurity firm Palo Alto Networks and retired from the firm last year, has applied to acquire voting shares in Liberty Bank, N.A.
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