Investment

Banks weigh in on the fallout from CrowdStrike's outage, Patelco Credit Union navigates an ongoing legal battle over ransomware attack, JPMorgan Chase's tech usage for fighting fraud and more.

Project Fortress encompasses four initiatives Deputy Secretary Wally Adeyemo hopes will "improve the security and resilience of the financial services sector."

The Raleigh, North Carolina-based bank grew loans and deposits in the second quarter as it won back business from former customers of the failed Silicon Valley Bank. First Citizens bought the remains of SVB last spring.

Witnesses from companies across financial services and housing, including a credit union and a core services provider, attested to the value of AI in fighting fraud and boosting customer service at a hearing in the House of Representatives.

While the company is still analyzing the error that caused many Windows systems to crash, it said a logic error in a channel file was the cause. Here's what that means.

The Department of Housing and Urban Development and the Nationwide Multistate Licensing System also reportedly had disruptions.

Customer reports of technical issues with many U.S. banks have spiked as a buggy software update from CrowdStrike disrupts multiple sectors.

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.

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

In this edition of American Banker's news quiz, catch yourself up on the latest news surrounding Project 2025, Patelco Credit Union's cybersecurity breach, fines against Citigroup and Fifth Third and more.