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There is fundamental work involved in laying a modern data foundation and adopting a flexible, data-driven, cloud-based IT architecture suitable for AI implementation. Most banks aren't there yet.
May 8
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OakNorth Bank in London is eager to utilize the data it's collected from providing risk management software to American banks over the past five years. Its growth plans include eventually acquiring a charter here and making commercial real estate loans.
May 7
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Thousands of consumers had to wait more than 90 days for funds after their accounts were suddenly closed, according to the Consumer Financial Protection Bureau.
May 7
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As the Federal Housing Finance Agency considers revising Federal Home Loan bank membership standards, it should consider the benefits of scale that large member banks make possible.
May 7
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The Consumer Financial Protection Bureau's overdraft proposal would set fees at $14. With fee income under attack from many sides, bankers say they would have to further restrict credit.
May 6
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A veteran Canadian bank analyst says Toronto-Dominion Bank's role in an alleged money-laundering scheme has made the "worst-case scenario" more likely — a huge fine for the lender and years of restrictions on its U.S. growth.
May 6
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Big national retailers will capture all the financial benefits from proposed reductions in swipe fees, while consumers will be left with fewer benefits programs and less secure transactions.
May 6
American Bankers Association -
The combination of two Pacific Northwest banks was supposed to create a regional powerhouse, but rising deposit costs have stung. CEO Clint Stein says he's "laser-focused" on making Columbia a top performer again.
May 3
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A set of panels discussing minority depository institutions and digitization found that cost is a significant challenge to minority depository institutions, especially in the core processing space.
May 3
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The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency issued a 30-page guidebook on managing affiliate risks. The report builds on formal guidance issued last year.
May 3
