Some bankers fear the use of artificial intelligence in detecting crime could catch innocent customers in a dragnet. Proponents say it can do a better job of spotting true criminals.
With heavy focus on the granular details of compliance, bankers and regulators might miss the big picture — not unlike New York City’s approach to fighting crime in the 1990s.
Federal Reserve Chair Janet Yellen said the central bank is prepared to issue further enforcement actions against Wells Fargo for its account scandal if “appropriate.”
Eleven major banks including Barclays, Citigroup and UBS said they'll seek ways to address the financial risks of global warming, after Bank of England Governor Mark Carney urged investors to act on the threat.
Sellers may shy away from partnering with banks that rely too heavily on one individual for their success, so buyers must show they are ready to handle unexpected departures or illnesses involving key personnel.
