Fraudsters are leveraging advanced artificial intelligence to impersonate customers and deceive financial institutions, but the industry is fighting back with detection systems.

Rohit Chopra, the director of the Consumer Financial Protection Bureau, wants to ensure that Big Tech firms are not unfairly excluding smaller fintechs from innovating on their platforms.

The World Bank director and former top Labor Department economist will become the first Fed governor of Hispanic descent and will give the board a full compliment of members since former vice chair Lael Brainard resigned in February.

The Federal Deposit Insurance Corp.'s second-quarter report on the state of banking noted that while banks are enjoying strong profits, they face declining deposits, rising unrealized losses and shrinking net interest margins.

Affirm is the latest BNPL lender to launch an in-store payment card with multiple financing options, giving consumers more checkout options as regulatory changes loom.

Chief Executive Rob Holmes, who launched an attempted turnaround shortly after taking the reins of the Dallas-based bank in 2021, is resisting the lure of share buybacks. Some investors may be growing impatient, but Holmes says the investments he's made are starting to pay off.