The first panel Tuesday at American Banker's Most Powerful Women in Banking Conference focused on banks' use of AI tools.

At the Most Powerful Women in Banking conference this week, New York's top banking regulator said banks need to take full responsibility for the artificial intelligence models they use, even if they bought them from a third party.

JPMorgan Chase and bank trade groups criticized the Consumer Financial Protection Bureau's open banking rule for not providing enough data security.

Acting Comptroller of the Currency Michael Hsu said the bankruptcy of Synapse earlier this year highlights regulatory gaps around the state-based licensing of businesses that transfer money.

The technology will take on routine, dull work, says Alenka Grealish, principal analyst at Celent.

The Consumer Financial Protection Bureau expanded the scope of the 1033 rule to include payment apps, provides for some secondary uses of data, and extends the timeline for compliance.

A consulting firm hired by the bank, Ankura, has reconciled ledgers between Synapse and its partner banks, Evolve says.

The consumer neobank, made by and for Native Americans, understood its target audience deeply and had a plan in place to earn revenue beyond interchange fees. Its struggles to get off the ground reflect other challenges — and lessons — for neobanks where a good idea is only the starting point.

The final rule on open banking is expected to be issued any day now by the Consumer Financial Protection Bureau. Banks have raised a host of concerns about liability, fraud and oversight of third-party fintech partners.

A whitepaper from FS-ISAC, a financial services industry group focused on cybersecurity, advocates that banks develop so-called "cryptographic agility."

The regulator cited Axiom Bank for unsafe and unsound practices as well as violating the Bank Secrecy Act and anti-money laundering requirements.

Pilots of the technology show it can produce double-digit productivity improvements. But among experienced staff, it can have a negative impact.

The banks top a list of the largest banks in terms of AI talent, innovation and leadership. 

The guidance from Adrienne Harris clarifies how a key cybersecurity regulation — Part 500 — applies to the risks and uses of AI inside banks, including risks associated with deepfakes.

American Banker's annual recognition of the most powerful women in banking includes two CIOs and the newly created position of chief data and analytics officer at a megabank.

Bank of America, Wells Fargo and U.S. Bank are among the institutions taking advantage of regulatory tailwinds to get more aggressive.

As more companies tout gen AI offerings, regulators are closely watching to see if what they say matches what they do.

Experts at Citi, Morgan Stanley and the London Stock Exchange have written a governance framework banks can use to mitigate the risks of generative AI.

The giant card network and the global bank are combining their scale to boost real-time cross-border transfers as fintechs target the market.

The investing platform disclosed a data breach this week, offering few details on the impact or how customer accounts could cause such damage.