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Shari Van Cleave 5
in Menlo Park, CA
Scott R. Kline/SRK Headshot Day

How Wells Fargo is exploring the future of digital banking

Shari Van Cleave, head of Wells Fargo Digital Labs, says the bank is experimenting with artificial intelligence and augmented reality to create new ways to present data to customers.

(Full story here.)
Citizens Bank signage.
Rain falls outside a Citizens Bank location in downtown Boston, Massachusetts, U.S., on Wednesday, Feb. 27, 2013. Photographer: Kelvin Ma/Bloomberg
Kelvin Ma/Bloomberg

Citizens makes big mortgage move with $500M acquisition

The Rhode Island regional agreed to buy Franklin American Mortgage. With the acquisition it would have one of the nation's 15 largest bank-owned mortgage platforms.

(Full story here.)
Amex's evolving blockchain

Has Amex found a data gold mine with its rewards blockchain?

The credit card issuer has built a distributed ledger through which merchants create their own membership rewards and get access to detailed information on purchases and the success of promotions.

(Full story here.)
AB-052818-LIBOR (6).png

Uneasy transition: Banks prepare for Libor's demise

The London interbank offered rate will likely be replaced by a new reference rate that critics say is better suited for the derivatives market than it is for commercial lending.

(Full story here.)
Face recognition
sp3n - stock.adobe.com

Facing up to bias in facial recognition

The recent outcry over government use of Amazon's facial recognition software will force TD Bank, USAA and others to confront flaws in the technology that make it harder for women and minorities than white men to use mobile banking.

(Full story here.)
Experian survey result from study on fraud and digital identity

How Capital One sees digital identity as a business opportunity

With the acquisition of Confyrm, the bank is among the few players that are putting themselves in position to sell ID authentication services to other businesses.

(Full story here.)
Acting CFPB Director Mick Mulvaney
Mick Mulvaney, acting director of the Consumer Financial Protection Bureau (CFPB ), listens during a Senate Banking, Housing & Urban Affairs Committee hearing in Washington, D.C., U.S., on Thursday, April 12, 2018. Senator Elizabeth Warren clashed with Mulvaney, accusing the former GOP congressman of putting politics ahead of protecting consumers. Photographer: Toya Sarno Jordan/Bloomberg
Toya Jordan Sarno/Bloomberg

CFPB's Mulvaney plots HMDA rollback, but it may not matter

Lenders would have a lighter data-reporting burden, but they may end up deciding to collect the data anyway.

(Full story here.)
Tim Sloan, president and chief executive officer of Wells Fargo.

Sloan addresses Wells Fargo's AML snafu, but big questions remain

Speaking at an industry conference Thursday, Wells Fargo CEO Tim Sloan left open the possibility that employees intentionally falsified important regulatory documents.

(Full story here.)
Federal Reserve Board Gov. Lael Brainard
Lael Brainard, governor of the U.S. Federal Reserve, speaks during a meeting with the Board of Governors for the Federal Reserve in Washington, D.C., U.S., on Wednesday, May 30, 2018. The Federal Reserve Board, now led by Trump appointees, on Wednesday took the most concrete step yet to roll back the Volcker Rule, which was key to Washington's efforts to make the industry safer after the 2008 meltdown. Photographer: Aaron P. Bernstein/Bloomberg
Aaron P. Bernstein/Bloomberg

No, regulators did not gut the Volcker Rule

The proposal to ease compliance with the Volcker Rule was portrayed as a rollback of the Dodd-Frank ban on proprietary trading. But it wasn't — here's why.

(Full story here.)
Mick Mulvaney, acting director of the Consumer Financial Protection Bureau.

CFPB looking to hop on fintech sandbox bandwagon

Mick Mulvaney, the agency's acting director, suggests U.S. startups — like their U.K. counterparts — may eventually be able to test products without fear of regulatory action.

(Full story here.)
Digital banking M&A Blockchain Biometrics Identity verification HMDA Volcker Rule Mick Mulvaney American Express CFPB News & Analysis
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