Practice and client management

Regulators have been working their way steadily down from the biggest players in the industry to regional firms in their quest to stamp out abuses of "off-channel" communications.

A new government effort intends to tackle unfriendly consumer practices. The CFPB is tasked with addressing chatbot misuse and customer service "doom loops."

Though it hasn't set a timeline, Oxford Bank, based north of the Motor City, is weighing a southward expansion that would add all the Detroit metropolitan area to its footprint.

On the heels of a recent downgrade by one analyst, the Uniondale, New York-based Flushing is being challenged by veteran investor Larry Seidman to consider a sale of the company.

Air Canada was penalized for misinformation generated by its chatbot; Patagonia has been accused of letting a vendor's AI model analyze customer service conversations without consent. These cases have parallels in banking, where many institutions use AI-based chatbots and contact center software.

Researchers wonder if similar regulatory attention could eventually hit the bottom lines of independent broker-dealers and RIAs.

The proposal is "significantly flawed" in its approach to corporate governance, the lawmakers said.

Contingency planning always seems theoretical...until it isn't. Planning for the unexpected can prepare you to serve customers well in times of crisis.

The embattled Long Island-based bank announced the hiring of nine new senior executives. Most of them have ties to CEO Joseph Otting, who previously held the top job at the OCC and OneWest Bank.