The Consumer Financial Protection Bureau issued guidance on the use of artificial intelligence in credit underwriting, saying that creditors are relying too heavily on a CFPB checklist and sample forms when they should provide specificity to explain why a consumer is denied credit.

A London-based fintech owner accused of helping drug traffickers launder hundreds of millions of euros through a crypto exchange platform must be extradited to Belgium to face criminal charges, a London judge ruled.

Ongoing disruptions and a reported ransom payment highlight the complexity of cybercrime networks and the pitfalls of paying ransoms.

The American Bankers Association found that 89% of the banks it surveyed feel that social media is important. But there is room for improvement in their practices.

A new model rates large banks on their efforts to develop and deploy artificial intelligence technology. 

Executives at Citizens Financial Group and community banks such as Seattle Bank and Citizens Bank of Edmond say there are potential use cases for large language models. Yet they have concerns that impersonal service and likely errors could erode customers' faith in their financial institutions.

The FBI, NSA and CISA highlighted the emerging dangers of AI-powered deepfakes in phishing campaigns and cataloged protections companies can deploy.

The bank is testing artificial intelligence tools that aim to detect possible signs of misconduct from the tone of traders' phone conversations.

The top three fintech investors in the ranking have 76 combined VC investments as of June 2023.

The top three fintech SPAC mergers have a combined announced deal value of more than $2.6 billion as of the end of June 2023.

Recent Arizent research shows that having appealing digital spaces is one of the most important factors for customer experience at banks.

Securities and Exchange Commission Chairman Gary Gensler told lawmakers that artificial intelligence could be used to game securities transactions in favor of corporate interests over those of investors. Critics say the SEC's plan to combat such conflicts of interest is hostile to technology.

Bank of America and TD Bank are finding that new employees and interns respond well to onboarding and training that takes place in the magical worlds of virtual reality.

SoFi Technologies' effort to transition from upstart fintech firm to the big leagues of financial institutions will face an important step possibly as soon as next week when the company helps take Instacart public.

Merrimack Valley Credit Union is launching a disaster relief loan, William Daley will retire from Wells Fargo, New York Community Bancorp promotes Signorille-Browne to COO and more in the weekly banking news roundup.

Executives at the Columbus, Ohio-based regional bank were convinced by a presentation Veuu, the solution's developer, made earlier this year.

The private equity firm GTCR's large investment in R&T Deposit Solutions is a sign of the windfall reciprocal deposit networks are reaping after the bank runs this spring that was driven by customers with large, mostly uninsured deposits.

Ant Group unveiled an artificial intelligence tool to use for wealth management and insurance services, joining the race for next-generation AI.