Investment

The American Fintech Council publicly declared support for California SB 69, which would require "internal expertise" for artificial intelligence regulation.

Banks should take a page from the health sciences' playbook and use artificial intelligence to "nudge" consumers away from transactions that have the characteristics of known fraud schemes.

A banking union calls the reversal by Commonwealth Bank "a massive win," but warns the fight to protect human jobs from AI replacement isn't over.

As stablecoins gain broader adoption in the U.S., they will eat into banks' deposits. As a result, lending in the U.S. may be increasingly funded by the wholesale capital markets.

Scattered Spider, a cybercrime gang whose targets include banks, has seen five of its members arrested for SIM-swapping and phishing schemes that stole millions.

The Consumer Financial Protection Bureau initiated a new rulemaking process for its open banking rule with a focus on who can serve as a representative for the consumer and whether banks can charge fees to third parties for consumer data.

The digital bank gives its business clients the option of feeding their bank account data into Anthropic's large language model, which will then provide answers to their questions.

Noelle Acheson writes that new blockchains from Circle and Stripe are about more than customization and control over the features. They're about redistributing power across the payments landscape

Boards of directors have ultimate responsibility for the health and safety of their banks. The deployment of AI-enabled systems opens the door to a vast array of new risk factors that they need to recognize.

Everything from company culture to data security concerns is hamstringing the pace of automation in financial services, per new American Banker research.