Special Program Root Tag

The generative AI technology has been through a cycle of media buzz, disappointment and disillusionment. 

The regional firm said it had won out over other candidates to provide investment program support to roughly 100 Comerica financial advisors.

The New York megabank unveiled the most complete accounting to date of its carbon footprint, and pledged to further reduce emissions from various high-emitting industries. Climate activists offered a mix of praise and concern.

More than 90% of appraisers are white, and researchers have found that bias leads to lower valuations for homeowners of color. A Flagstar executive said the mortgage-focused bank is "not just going to sit on the sidelines and watch this happen."

The strategy document identifies potential avenues for cutting cybercriminals off from financing, as well as other actions banks can take.

The results came a day after it emerged that Canada's second-largest bank doesn't anticipate regulators will approve its deal for Memphis, Tenn.-based First Horizon Corp. by May 27, as it previously projected.

Clear Street is bringing on a market maker as a strategic investor as it expands its product set.

The specter of an economic downturn looms, but many companies are still in growth mode, according to Donald McCree, head of commercial banking at the Rhode Island bank. "We continue to hear from a lot of companies that they are doing quite well," he said.

The small businesses said in a lawsuit that the bank used "misleading marketing and business practices" to rake in processing fees from oversized Paycheck Protection Program loans. A bank spokesperson placed responsibility on PPP borrowers for the representations they made in loan applications.

Citizens Financial Group, which has offered point-of-sale financing for iPhones sold through Apple since 2015, is finding that as objects such as refrigerators become more complex and internet-connected, they are also more frequently replaced — creating new categories for installment lending.

The merger of Columbia and Umpqua has created a $52 billion-asset bank rooted in the Pacific Northwest. CEO Clint Stein said the company has room to expand in California, Arizona, Colorado and Utah.

The Consumer Financial Protection Bureau is warning that excessive fees can chip away at the cash sent to the most vulnerable consumers who opt to receive Social Security and other public benefits via prepaid cards.

The Canadian bank now expects loan growth in the mid-single-digit range this year, down from a high-single-digit forecast three months ago. "We're not slowing, but the economy is," one executive said.

Americans for Financial Reform say in an amicus brief that the Second Circuit should revisit a 30-year old decision ruling that loan participations were not securities.

While Goldman Sachs is still pushing to make its expansion into consumer lending profitable, the bank is also weighing strategic alternatives, CEO David Solomon says. The dueling options reflect the problems that Wall Street giant faces in Main Street banking.