Lenders and financial institutions should allow consumers to report nontraditional financial activities in an effort to adopt and validate newer, more inclusive credit scoring models.

The bank plans to turn away transactions for apps like Afterpay, Affirm, Klarna and others. Its move comes as these third parties face increasing scrutiny from regulators and industrywide concerns over risk.

FactSet, Brightwave and Bloomberg are among those offering generative AI models that do research legwork. But Wall Street firms have lately been taking a harder look at the cost and return of generative AI.

Financial services supervisors should revisit the concept of regulatory sandboxes. Doing so would allow fintechs to gain needed experience in the world of banking, while fostering innovation.

An analysis of 13 comment letters from the financial industry highlights the most important changes banks want to see to rules proposed by CISA.

Acting Comptroller of the Currency Michael Hsu said the OCC will review its 2020 interpretation of preemption under the Dodd-Frank Act and explore more direct engagement, tailored federal regulation and supervision of nonbank fintechs.

The final rule governing the use of automated valuation models for home assessments is substantially similar to the initial proposal made last June.

CTrust is providing scores specific to the legal weed business, an industry that poses a lot of challenges and opportunities for banks and other lenders.

Banks reported that they have far more protections against fraud in digital channels versus branches or call centers, according to survey research.

The tech giant is enabling users to pay by holding smartphones together, potentially cutting into the market for Zelle, PayPal and Venmo.