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Banks, payment companies, mortgage lenders and insurance providers are racing to seize an advantage from generative artificial intelligence. Some have been especially aggressive in deciding which workflows — or entire jobs — can be handed off to AI.

The Financial Crimes Enforcement Network issued a final rule on beneficial ownership information ahead of a deadline to start reporting this data on January 1, 2024, with revisions to address concerns from lawmakers and banking advocates.

Corporations and trial lawyers have long fought over whether consumers should be forced into arbitration to resolve their complaints. Now there's a new wrinkle: It's becoming harder for aggrieved customers to even get to arbitration.

The American Bankers Association requested that President Joe Biden tell Treasury Secretary Janet Yellen to study the impact of more robust bank regulation.

The Federal Deposit Insurance Corp. finalized rules governing display of the FDIC logo Wednesday, requiring a new digital FDIC sign on online banking platforms beginning in 2025, conspicuous physical signs in nontraditional bank facilities and explicit labeling of insured and non-deposit products.

Tanya Otsuka's confirmation gives the Democrats control of the National Credit Union Administration's board for the first time since 2016. Here's how that will impact its agenda.

The policy, released Thursday by the New York Fed bank, takes effect Jan. 1. It details which records are subject to disclosure, rules for requesting them and certain exemptions, such as items related to "internal personnel rules and practices."

As CEO Jane Fraser's restructuring of the embattled bank takes shape, the decisions show Citi's willingness to part with certain franchises, even if they are competitive, in the pursuit of lifting returns in line with major U.S. peers.

The vote by workers in a New Mexico branch is the first union victory at a megabank in decades, though unionization efforts at another Wells branch took a step back.

The Justice Department and the Consumer Financial Protection Bureau are suing a real estate developer over an alleged bait-and-switch land-sale scheme near Houston. The developer used TikTok and other social media sites to lure Hispanic immigrants into predatory loans, the government alleges.

Here's what's happening around the world

The resolution to nullify the CFPB's small-business data rule, which would require lenders to collect demographic information before making loans to small-businesses, passed in both chambers with some bipartisan support.

The Cincinnati, Ohio, bank also promoted three other top executives to new roles. All of the changes will be effective in early 2024.

A proposed reduction in the amount of overall discretionary spending amounts would hamper both agencies' ability to fulfill their affordable-homeownership missions, the consortium of housing industry advocates said.

Google's $700 million antitrust settlement is part of a series of legal battles that are eroding Big Tech's control over checkout, cracking a door for other transaction processors and the bank-led Paze wallet from Zelle's developers.

At the heart of Ardith Lindsey's Nov. 20 lawsuit are allegations that Mani Singh, another Citigroup managing director who was always more senior than her, coerced her into an abusive relationship and threatened her and her family with violence after she ended it in October 2022.

Rewards jumped as the Covid-19 pandemic spurred trading and deals in 2020, eventually setting off a war for talent. They then collapsed last year as rising interest rates put a damper on client activity — a malaise that stretched through 2023.

Wealth under management in Miami from Mexico clients alone increased by roughly 10% this year at JPMorgan, with similar gains coming from Argentina, Chile, Peru and several other Latin American nations.

Federal banking agencies should disregard a demand by state attorneys general that national banks be instructed to provide investigators with bank records outside of a court proceeding.

The Stockholm-based firm announced Tuesday that it has amassed a stake of about 1.3% in the Swiss bank over the course of this year, making it one of the lender's biggest shareholders.