The potential deal between the major card networks and merchants would see swipe fees reduced and capped for at least three years, pending approval by the U.S. District Court for the Eastern District of New York.

Preliminary rulings by a Pennsylvania judge will allow a jewelry company that claimed it lost $1.1 million to fraud to move forward with suing individual bank employees.

The $4.2 billion-asset MCU in New York is working with Ameriprise Financial Institutions Group to connect members with the firm's network of digital advisors and offer investment planning options alongside its traditional products.

The credit bureau's Argus unit collected the bank's credit card data on behalf of regulators, then used it in the benchmarking service it sells to other banks, the bank says. The suit comes at a time when bank data is becoming increasingly open, at least in theory.

Specialized large language models should be harnessed to help financial institutions identify and halt fraudulent activity. The best model would involve regulator-approved pooling of anonymized customer data.

Technology executives at financial institutions must strike a balance between jumping on new technologies while justifying their business case for the bank.

Financial services companies must incorporate digital, technical and cognitive empathy into the way they think about delivering their products in a digitized future.

Criminals who buy and sell consumer data on the dark web are perpetrating increasingly complex credit and debit card fraud schemes, according to the card network's latest threats report.

A recent survey showed a majority of banks use generative AI, mainly for tasks like writing emails and detecting fraud, but few say they have built customer-facing products with it.