The Treasury Department and the Internal Revenue Service issued a proposal that would allow pass-through businesses like Subchapter S banks to deduct 20% of their business income as part of the new tax law President Trump signed last year.
Bci Miami is one of the first banks in the U.S. to publicly acknowledge using AI this way, when many still consider the technology to be new, risky and unsanctioned by regulators.
Sen. Brian Schatz, D-Hawaii, said it is hard to imagine how Wells Fargo's $8 million remediation plan would correct a mistake that led to 400 wrongful foreclosures.
While the looming loan-loss accounting standard has been criticized for its complexity and the potential cost to implement, some advocates believe it could also lead to better pricing decisions and improve communication within a bank.
A mortgage fraud scheme involving fake employment records, initially thought to be contained to Southern California, is occurring statewide, Fannie Mae said in a new fraud alert.
Montana Sen. Jon Tester was among a handful of Democrats central to passing regulatory relief this spring. Bankers need to back his re-election regardless of party affiliation.
U.S. authorities are forced to take action on some shady dealings up north; the Systemic Risk Council says weaker capital rules could deflate bank equity.
