The House Financial Services Committee (HFSC) aims to play a role in the development of artificial intelligence (AI) as the technology impacts the financial services and housing industries. HFSC Chairman Patrick McHenry, R-North Carolina, and Ranking Member Maxine Waters, D-California, introduced bipartisan measures focusing on AI and its...
The eventual resolution of the key question in the wake of the Synapse bankruptcy — namely, where the money went — will take time. And those seeking answers are turning yet again to the courts. To that end, the class action suit against Synapse’s four...
The Monetary Authority of Singapore (MAS) has imposed a civil penalty of $2.4 million Singapore dollars (about $1.8 million) on JPMorgan Chase Bank, N.A., alleging misconduct by the bank’s relationship managers (RMs). The MAS found 24 over-the-counter (OTC) bond transactions in which JPMorgan’s relationship managers made inaccurate...
The Bank of England aims to develop the ability to lend to non-bank financial institutions (NBFIs). It is doing so to address potential liquidity challenges in core financial markets that could threaten the United Kingdom’s financial stability, the bank said in a final report on its...
November 22, 2024
Banks and credit unions may feel like they offer a best-in-class digital experience — and the readiness to offer new services and options — when it comes to bringing lending products online. And they may see themselves as engaging with their customers across online channels. But their customers might beg to differ. As Eric Lee, […]
October 04, 2024
The healthcare landscape is as complex and slow moving as it is vital. But in an industry notorious for its slow tech adoption, healthcare providers are being pushed to overhaul...
September 23, 2024
The Federal Deposit Insurance Corp.’s latest data on deposits shows just how bifurcated the banking industry is, in terms of the largest players, home to the great bulk of overall...
September 12, 2024
Open banking, which allows third-party providers to access banking data through secure application programming interfaces (APIs), has gained momentum globally as a means to enhance financial services. Recent U.S. regulatory...
December 02, 2024
The Office of the Comptroller of the Currency (OCC) rated three out of 19 financial institutions as “outstanding” in its latest list of Community Reinvestment Act (CRA) performance evaluations. The other 16 financial institutions on the list were rated “satisfactory,” the regulator said in a Monday (Dec. 2) press release. None were rated “needs to improve” or […]
December 02, 2024
The House Financial Services Committee (HFSC) aims to play a role in the development of artificial intelligence (AI) as the technology impacts the financial services and housing industries. HFSC Chairman Patrick McHenry,...
December 02, 2024
The Monetary Authority of Singapore (MAS) has imposed a civil penalty of $2.4 million Singapore dollars (about $1.8 million) on JPMorgan Chase Bank, N.A., alleging misconduct by the bank’s relationship managers (RMs)....
November 29, 2024
The Bank of England aims to develop the ability to lend to non-bank financial institutions (NBFIs). It is doing so to address potential liquidity challenges in core financial markets that could...
