OCBC Bank in Singapore has seen a 35% reduction in false positives in its tests of artificial intelligence-based anti-money-laundering software. Other banks could follow its lead, though there are regulatory and customer-protection questions.
Policymakers need to focus less on how they regulate the banking industry’s cyber defenses and more on how they will protect the financial system from an attack.
California officials had accused Advance America of wrongly assessing Department of Motor Vehicles fees on its payday loans to skirt the state's interest rate cap.
The eventual pick will likely encounter heavy scrutiny from senators and, if confirmed, would take the helm of an agency still defined by turmoil nearly seven years after its creation.
Bankers should be careful in their push to deregulate, as efforts to roll back some crisis-era rules will likely add new risks to the financial system.
Sen. Elizabeth Warren said in a series of interviews on Sunday morning political shows that a bill giving banks relief from rules imposed after the 2008 financial crisis could usher in a new round of taxpayer-funded bailouts.
Franklin Synergy and MidFirst both plan to deploy the online lending platform, which according to its creator can render loan decisions in just under three minutes.
Goldman Sachs CEO Lloyd Blankfein is reportedly considering leaving by the end of this year; American Express plans to reduce its merchant fees to stay competitive.
Earlier, we posted about whether holders of Venezuelan bonds would be better off accelerating and obtaining judgments sooner rather than later. In a nutshell, here was the point:
