Organization Root Tag

Aarthi Murali, M&T's chief customer experience officer, is now in charge of employee experience as well. Murali said she is focused on the "human experience" at all levels.

The new rules also expand the use of "proven protections," such as multifactor authentication, according to Adrienne Harris, superintendent of the New York State Department of Financial Services.

Michael Hsu is voicing concerns about the increasing disintermediation of accountability for banking services as more banks collaborate with nonbank entities. In an interview, he also addresses industry concerns about the Basel endgame proposal and notes banks' growing interest in tokenizing real-world assets.

Meta, Apple, Alphabet and other companies that offer digital wallets and payment apps would fall under U.S. Consumer Financial Protection Bureau supervision under a newly proposed rule aimed at treating nonbanks more like traditional counterparts.

Goldman, which oversees $267 billion in fee-earning alternative assets, is trying to bring compensation more in line with rival investment firms as it moves toward third-party capital to fund its investing activities instead of relying on its own balance sheet.

Banks have been working to sell portfolios of commercial-property debt as they seek to manage their exposure to the sector. Soaring borrowing costs have weighed on valuations, with commercial real estate prices slumping 16% in September from a peak in March 2022, according to real estate analytics firm Green Street. 

This week the Small Business Administration followed through with a controversial policy change by granting access to its flagship 7(a) program to three additional nonbank lenders. These new participants vowed to ramp up their small-business lending efforts.

Companies such as Visa and Mastercard, as well as banks and retailers, are stepping up their investments in artificial intelligence to reach small businesses and spot new uses.

The JPMorgan Chase chief says Texas risks undermining its business-friendly reputation with laws designed to punish Wall Street banks for policies that limit work with the gun and fossil-fuel industries.

A conversation with USAA's Paul Vincent

The subpoena asks the company to produce documents tied to its work on the dollar-linked stablecoin PayPal USD. The company says in a regulatory filing that it's cooperating with the probe. 

Alex Chriss, the new chief executive, says the firm aims to reverse its stock slump by assessing its business to favor its best-performing products.

A $35 million capital bump from a once-hostile investor group may have helped the Philadelphia bank avoid collapse. Still, it reported $30 million of quarterly operating losses and heavy securities risk in a recently filed call report.

Equity capital markets deal flow remains tepid, hovering around $101 billion this year. That's an improvement over the $92.6 billion for all of last year, but still far below the $200 billion average in 2018 and 2019.

The bonuses were paid to incoming Chief Executive Officer Ted Pick and his two deputies, Andy Saperstein and Dan Simkowitz. 

By purchasing the merchant acquirer Atlantic-Pacific Processing Systems, the fintech Stax has rounded out its offerings in a way that echoes the structure of larger payment companies.

The FDIC had sought bids for the bank on Oct. 23, but told potential buyers two days later that it would delay making a decision until this week, said the people, who asked to not be identified because the matter isn't public.

The British bank, which generates most of its income in Asia, has been deploying more resources in the region to tap into faster-growing markets and saw a "good wealth performance," particularly in Hong Kong, it said.

JP Morgan Chase and Carver Federal Savings are applying fast-acting security tools more broadly — regardless of how fast the transaction is.

Citigroup is planning to grant the majority of its over 40,000 coders access to generative artificial intelligence as Wall Street continues to embrace the burgeoning technology.