Risk management

Gaps in traditional means of assessing creditworthiness are being filled by new kinds of information, such as cash flow data. The result will be good for both banks and borrowers.

Gary Farro's testimony focused on both the banking activity of Michael Cohen, a former Trump attorney who paid $130,000 to an adult film actress in 2016, and First Republic Bank's due diligence work.

Former Silicon Valley Bank exec Floyd Kessler joins Comerica as executive vice president and chief business control officer; Melissa Holding succeeds Michael Robinson as head of wealth management at Huntington; Goldman Sachs' Alexander Mayer is set to take on a senior position at JPMorgan Chase; and more in this week's banking news roundup.

Extensive partnerships with third-party service providers, fintechs and other partners are the banking equivalent of a supply chain, and bankers need to be clear-eyed about assessing the risk associated with them.

While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.

The Basel III proposals are a major step in completing the implementation of global agreements to ensure large banking organizations are appropriately capitalized to better withstand all manner of economic disruption.

The Fed's willingness to rethink the Basel endgame is good news for banks, but many large institutions are still going to want to push forward with credit-linked notes and similar strategies.

The Long Island bank is trying to come back from a month-long spiral that sunk its stock price some 80%.

The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.