PayThink

Artificial intelligence tools will certainly change the way the banking industry operates, but they won't eliminate the need to build your business on a firm foundation of care for employees, customers and shareholders.

Working at Federal Reserve headquarters on Sept. 11, Roger Ferguson knew he had to act quickly. But he was the only senior Fed leader in the country that morning.

Elizabeth McCaul was in Japan on the morning of Sept. 11. Which gave her one advantage: she had a working phone.

Donald Powell was sworn in as chair of the FDIC just two weeks before the Sept. 11 attacks. Settling into the role was not going to be an option.

An agent that takes an unexpected action in the service of achieving its assigned goal can create vulnerabilities that may be difficult to spot in real time. These problems can compound if the agent continues to act within a bank's systems.

The section of the bill addressing stablecoin rewards is the product of a hard-won bipartisan compromise. Efforts to reword it would not only create confusion, but would seriously endanger its passage.

In assessing the strength of banks' management, regulators need to work with stakeholders to develop a set of evidence protocols, analytical frameworks, and illustrative metrics that will allow fair, consistent and proactive measurement.

Tokenization projects are no longer viewed as modernization initiatives, but rather as a potential source of new revenue, lower operating costs, improved capital efficiency and differentiated products.

One of the benefits of the Clarity Act is that it would codify much of digital asset firms' anti-money-laundering responsibilities. This is good news for banks that have been understandably nervous about counterparty risk.