Technology

Sen. Richard Blumethal, D-Conn., chair of the Senate Permanent Subcommittee on Investigation, asked bankers whether the Electronic Funds Transfer Act should be updated to include scams that involve authorized fund transfers.

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.

America must never cease to be the global leader in innovation and entrepreneurship. However, when it comes to bank-fintech relationships, politics and misguided regulatory forces threaten the very foundation of that innovative spirit and limit consumer choice.

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.

Nine international fintech companies are participating in the credit card network's accelerator program.

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.

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.