PayThink

The financial services industry is uniquely positioned to advocate for collaborative AI leadership. As a sector that depends on trust, transparency and global cooperation, financial institutions have a vested interest in ensuring that AI development aligns with these principles.

Just as two North Carolina universities have dominated college basketball in recent decades, two banks from the Tar Heel state have dominated much of U.S. banking since 1990, turning Florida, especially, into a "banking colony."

Despite dire warnings of catastrophe, the deregulation of surface transportation in the 1970s delivered huge benefits to consumers. The banking industry is ripe for a similar regulatory restructuring.

Rather than trying to police the way banks' artificial intelligence models are designed, regulators should assess the results they produce and make sure they adhere to existing consumer protection rules.

The decision to stop enforcing the Corporate Transparency Act, which requires the disclosure of the beneficial ownership of businesses, could make the U.S. an attractive environment for fraudsters.

Last month, the OCC opened the door to national banks interested in engaging with digital assets. That's a good thing, but there is a real need for clear legislative and regulatory guidance so they can move forward safely.

Shrinking the Federal Home Loan Bank System from 11 banks to eight would save members money, improve efficiency and generate more money for affordable housing.

Central bank digital currencies have the potential to improve financial inclusion for women, but only if they are combined with a system that lowers multiple other barriers to their financial empowerment.

The world's largest asset manager has recognized that investing in organizations that champion environmental, social and governance issues is not an inherent good. This shows that market forces are reasserting themselves.

The cumulative evidence of research and experience shows that overdraft is a necessary and beneficial service, especially in the hands of a credit union.