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The Pittsburgh superregional reported lower second-quarter earnings as net interest income tapered and deposits fell from the previous quarter. CEO William Demchak predicted further weakening of loan demand and NII through the current quarter.

The brokerage firm reported that during the second quarter bank deposits fell 31% from a year earlier. But executives suggested that the worst is now over.

The Federal Reserve vice chair for supervision said regulators will adapt supervisory practices to account for advancements in machine learning.

Solopreneurs are the new engine of business growth in the U.S., and banks and financial services regulators need to recognize their importance.

Bank of America's second-quarter profit soared after its core Wall Street businesses exceeded analysts' expectations.

For large banks, the agencies wanted to go above the global standards for residential mortgages, as well as some business loans, to avoid giving those lenders a competitive advantage over smaller peers, according to another person familiar with the proposal.

The Wildflower Foundation is seeking to raise $10 million for its Sunlight Loan Fund, which supports teachers who want to provide broader access to Montessori education. U.S. Bank recently closed on the inaugural commitment to the fund.

The companies are both tapping the U.S. investment-grade primary market, kicking off a potential deluge of fresh bank bonds in the wake of second-quarter earnings.

In a data breach at OpenAI, some ChatGPT users were able to see other users' financial data. In other cases, users have invoked their dead grandmothers to access information that should have been sealed off.

Scully, who founded and then eventually sold Howard Bank, will help the Rockville, Maryland-based Capital expand its footprint in the Washington, D.C., metro area.

The group of banks would pay $68 million to settle the lawsuit, which originally estimated damages at $340 million.

Republicans have urged the Supreme Court to gut the Consumer Financial Protection Bureau by tying its funding to appropriations. But regulatory experts say that a ruling against the CFPB would threaten the funding of other similarly structured agencies including the Federal Reserve Board, the Farm Credit System and other regulators that are funded through fees or assessments.

Such concerns have taken on new importance with recent advances in artificial intelligence tools, which are "the most transformative technology of our time," Securities and Exchange Commission Chair Gary Gensler says.

Known for his personal style and his support of affordable housing, the former MBA president also earned an ignominious distinction as the face of the Financial Crisis.

Consumer Financial Protection Bureau Director Rohit Chopra will engage in informal talks with Didier Reynders, the European Commission's commissioner for justice and consumer protection, on artificial intelligence, buy now/pay later and digital payments.

An executive with the Federal Home Loan Bank of Chicago pushes back on a BankThink article criticizing the Mortgage Partnership Finance program.

Data-sharing runs through dozens of projects designed to generate revenue beyond the point of sale.

Tesla, which started its ABS program in early 2018, is repackaging a pool of leases on new electric vehicles manufactured by Tesla and originated through Tesla Finance into the securities.

Next week, the House Financial Services Committee will discuss bank regulator oversight bills, including one that would remove the Federal Reserve's Vice Chairman for Supervision position.

The New York megabank benefited duing the second quarter from strong revenue growth in its giant credit card business, which helped overcome headwinds in wealth management and investment banking. But executives indicated that the script could soon flip.