Members of the Financial Stability Oversight Council Thursday warned of increasing financial risks posed by artificial intelligence in its annual report, noting AI's potential to amplify cyber threats, induce herd behavior and even compromise bank safety and soundness.

Retail customers at large banks were a bit more satisfied this year than in 2022, a new J.D. Power study finds. However, more of those same customers are moving cash to — and seeking advice from — wealth management firms and online banks.

Sen. Jack Reed, D-R.I., also brought up concerns with synthetic risk transfers and so-called shadow banks, which he said are shifting risk from outside the banking system into private credit markets.

The Michigan City company, part of a growing list of banks announcing similar overhauls, aims to sell nearly $400 million of securities and reinvest the proceeds in higher-yielding loans.

A Connecticut-based couple sued the bank and Cavanaugh Appraisals, LLC for denying them a refinance in 2021 because of racial bias.

The world's largest credit union reported a 5% increase in total loans in the third quarter while lending at the largest banks was almost stagnant. However, the Vienna, Virginia, institution's charge-offs also jumped significantly.