Slideshow Wells' digital future, Citizens' mortgage play, Amex's data goldmine: Top stories of the week

Published
  • June 01 2018, 4:45pm EDT
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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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