Regulation and compliance
Amid intense regulatory scrutiny, market volatility and economic uncertainty, 10 bank M&A deals have been scrubbed so far this year after 13 were scuttled last year. Deal activity has risen slightly lately, but the new normal is hard to gauge.
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Citigroup is planning to grant the majority of its over 40,000 coders access to generative artificial intelligence as Wall Street continues to embrace the burgeoning technology.
October 27 -
The head of the Consumer Bankers Association takes issue with a recent BankThink article questioning bank CEOs' commitment to promises made in response to the Black Lives Matter movement.
October 26
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The eight-year-old penalty stemmed from traders at the bank colluding with counterparts at other large banks to manipulate dollar and euro prices.
October 26 -
Three months after the instant payment network went live, users and former Fed staffers say the rollout is going as expected. But the key to wider use depends on banks and their customers figuring out what to do with it.
October 23 -
Three years removed from the Black Lives Matter protests, banks have not fulfilled their promises to help close the racial wealth gap.
October 23 -
Retailers fed up with interchange are trying numerous strategies to offset these costs, including piloting Pay by Bank use cases and even, in some cases, refusing to accept cards altogether.
October 22 -
The New York State Department of Financial Services and the Federal Reserve Board penalized Metropolitan Commercial Bank for failing to prevent $300 million in fraud in a prepaid card program. It is the latest example of a bank being sanctioned in connection with rampant fraud during the COVID-19 pandemic.
October 20 -
The $668 billion-asset company sold investment securities and certain mortgages to avoid more stringent liquidity and other federal requirements for larger banks. Yet CEO Andy Cecere says U.S. Bancorp is "not under an asset cap at all."
October 18 -
Far more than most people, financial services professionals ought to understand the compounding crisis of climate change.
October 17
