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The artificial intelligence revolution has arrived. NYC's CTO, Matthew Fraser, tells American Banker's Executive Editor of Technology, Penny Crosman, how new technology is shaping policy in America's largest city.

Federal Reserve Gov. Michelle Bowman, who has emerged as a leading opponent to the central bank's recent efforts to raise capital requirements, said it was "absolutely imperative" that banks make their concerns heard.

The move to create data consortia and proprietary information networks is creating exactly the kind of information silos that money launderers exploit today.

The company's scale has helped it become a force in many payment niches, but that wasn't enough to make its PYUSD coin an immediate threat to Tether's USDT and Circle's USDC.

The top five banks have an average reputation score among noncustomers of 70.7 in 2023.

Banks including Goldman Sachs Group Inc. and JPMorgan Chase & Co. sold $8.64 billion of debt to fund the partial leveraged buyout of Worldpay Inc., boosting the size of the offering in a sign of growing investor demand for LBO debt.

Federal Reserve officials have asserted that stablecoin regulation is necessary and within their jurisdiction. Observers say the central bank's crypto guidance and policies governing master accounts offer blurry visions of what shape such regulation might take.

The Mer Rouge State Bank in Louisiana and Mission National Bank in San Francisco are among 184 banks to receive $70 million of grants from the Bank Enterprise Award Program, its largest awards ever.

The parent companies of Cape Cod 5 and Fidelity Bank have agreed to combine under a multibank holding company called Mutual Bancorp. The bank units would keep their current names and operate independently but pool resources to improve efficiency.

The Consumer Financial Protection Bureau proposed major changes to the Fair Credit Reporting Act, including eliminating all medical debt from credit reports. But banks and financial firms said the plan would upend 50 years of how courts have interpreted the law.

If confirmed to the National Credit Union Administration, Otsuka would succeed Rodney Hood and become the board's first Asian American member.

The top five banks have an average reputation score among customers of 84.1 in 2023.

The Federal Reserve's rate hikes so far are just "catching up," the JPMorgan chairman and CEO says. Dimon predicts inflation will be at 4% early next year and "won't be coming down for a whole bunch of reasons."

Two federal agencies recently released a warning about a strain of ransomware called Snatch, which has adopted the successful tactics of other variants.

It's still too soon to say exactly how the use of advanced artificial intelligence will be restricted in financial services, but banks are developing strategies mindful of potential policies.

The private equity firms accused the bank of concealing key changes to a credit agreement, in part because it wanted to win future muni bond business from Brightline Holdings.

The Federal Deposit Insurance Corp. Board's Vice Chair Travis Hill urged his fellow regulators Thursday to delay implementing new banking regulations until interest rates stabilize, saying rushed rules amid precarious economic conditions could impact consumer lending.

Affirm is considering a subscription service in a bid to create more recurring revenue beyond interest collected from its buy now/pay later plans.

The bank has committed to hit a base wage of $25 an hour by 2025; officials also said it would lease space in a giant new office tower in Dallas, its second-largest hub.

Eighteen banks announced agreements to sell themselves last month. It was the most active month for bank deals since July 2022.