May 30, 2023
Attorneys Face Sanctions After Citing Case Law ‘Hallucinated’ by ChatGPT
Two attorneys may face judicial sanctions after citing cases that were made up by ChatGPT. The attorneys could even be disbarred after using information “hallucinated” by the generative artificial intelligence...
May 23, 2023
CFPB: Citizens Bank to Pay $9 Million Fine Over Credit...
The Consumer Financial Protection Bureau (CFPB) and Citizens Financial Group have reached a settlement on a CFPB complaint. Citizens will pay a $9 million civil money penalty to resolve CFPB’s allegations that Citizens Bank, a subsidiary of...
May 19, 2023
Fed Governor Says Changes to Banking Regulations Should be ‘Targeted’
A Federal Reserve governor said changes to banking regulations should be “targeted,” not broad and fundamental. Speaking Friday (May 19) at the Texas Bankers Association Annual Convention in San Antonio,...
May 17, 2023
Fiserv Vet William Flyge Named US Bank’s Global Banks Head
U.S. Bank has named a payments industry veteran to head its global banks division. William Flyge, who spent seven years in a senior business development role at Fiserv, will now...
May 15, 2023
How a 190-Year-Old UK Bank Is Reimagining Payments
Slow processing times, high banking fees, and complex and overlapping regulatory requirements continue to create pain points for individuals sending and receiving remittances worldwide. And although technology has simplified cross-border...
May 05, 2023
Sofia Richie’s Wedding Gowns Lead to a 300% Surge in...
In May 2022, luxury fashion label Chanel launched stores purely dedicated to top-paying clients. This move has since been made popular as even other luxury labels, who are known to...
May 04, 2023
Johnson & Johnson Spinoff Kenvue Valued at $41 Billion in...
Johnson & Johnson’s consumer healthcare spinoff has made the biggest U.S. initial public offering (IPO) since 2021. Kenvue, which includes Band-Aid and several other well-known consumer brands that had been...
May 02, 2023
Investors Remain Wary of Regional Banks After First Republic Sale
Investors remain concerned about the future of regional banks. After regulators seized the struggling First Republic Bank and auctioned it off Sunday (April 30) and JPMorgan Chase agreed to acquire...
May 01, 2023
JPMorgan To Buy First Republic Bank As Regulators Seize Control
After weeks of creeping to the edge of collapse, First Republic Bank is no more. Regulators seized control of the struggling California lender over the weekend, with the Federal Deposit Insurance Corporation...