Banks have embraced artificial intelligence for years. Now, after a week of dire warnings about the technology's risks, executives at two big banks are calling for caution and calm.

Erin Piacenti, 32, was a vice president at Bank of America and the mother of a five-month-old baby. On her way home from work, she was stabbed to death in what New York police called a "random and unprovoked attack."

JPMorganChase, Goldman Sachs, Citi, Morgan Stanley, Wells Fargo and Bank of America are among the biggest backers of data centers. Community opposition isn't slowing them down, but it's making them rethink their approach to managing risks.

U.S. District Judge Jed Rakoff called the agreement "fair, reasonable and adequate," clearing the way for lawyers to begin distributing money to about 90 women who were sexually abused or trafficked by Epstein and the people around him.

The Trump administration issued guidance Tuesday forbidding a set of lending programs meant to combat discrimination. But banks saw the government's action coming — and some had already dismantled their programs.

Rick Simonetti knows it's not easy recruiting private bankers and then moving their clients and assets. That hasn't stopped him from building Fidelis Capital into a $3 billion firm built largely on bankers pulled from Wells Fargo and Bank of America.

In the latest example of lenders rolling back their hybrid work policies, the nation's second-largest bank will soon require its employees to choose nonconsecutive days to work from home.

It's not just about AI and the bank is not walking away from its green goals, Karen Fang, the initiative's leader, told American Banker.

The move gives Bank of America a stronger foothold in the Indian market by investing in one of the fastest-growing financial firms in the region.

The two banks are among the early bank adopters of a Swift standard that's designed to support near instant payments and serve as an alternative to stablecoins.

A report released this week by Sen. Ron Wyden, D-Ore., shines a light on what is required of banks when high-net-worth clients engage in suspicious activity.

Neither company would say how many patents the deal covers, whether either paid the other or whether USAA pressed its claims first.

JPMorganChase, Bank of America and Deutsche Bank likely violated federal anti-money-laundering laws in connection with the finances of notorious sex offender Jeffrey Epstein, according to a report by Democratic Sen. Ron Wyden.

The second-largest U.S. bank provided an update to investors about the consent order issued by the OCC in 2024, saying a resolution may include monetary penalties.

The bank reports an increase in spending in host cities and in restaurants, along with an early read on the role of agentic AI.

Increased use of artificial intelligence led to revenue growth and productivity gains during the second quarter, the bank's leaders said.

For the banks involved in the record-shattering IPO, this year's second quarter was marked by a spike in investment banking income.

Washington, D.C., may be the epicenter of the nation's birthday celebrations, but the financiers, financial institutions and city that funded it deserve some attention, too.

As a subsidiary of Bank of America, Merrill uses a BofA software program to monitor and report suspicious activity. For years, the Securities and Exchange Commission says, that program fell short.

BofA is using an old-school method to battle the world's newest scams: in-person seminars, taught at brick-and-mortar branches.