Can AI’s ‘black box’ problem be solved?
Bank technologists see the potential for AI in lending, money laundering detection, fraud and other areas. Regulators and bank executives insist on “explainability.” ... Read full article
Bank technologists see the potential for AI in lending, money laundering detection, fraud and other areas. Regulators and bank executives insist on “explainability.” ... Read full article
The Massachusetts progressive said in a New Year's Eve email and video message to supporters that she’s launching an exploratory committee for a 2020 bid, which could give her an early edge in fundraising among several potential rivals for the ... Read full article
The announcement rescinded the agency's earlier guidance issued to industry partners to suspend sales operations as a result of the current lapse in funding from Congress. ... Read full article
The year saw anxiety over how banks would respond to record consumer debt, disruptive glitches at TD Bank and SunTrust, ongoing scandal at Wells Fargo, and much, much more. ... Read full article
An effort to increase awareness of the transition to a new benchmark rate, and nudge banks to start preparing, is expected to intensify in 2019. ... Read full article
Both sides acknowledge where expectations haven't been met, and are feeling the same market pressures to adapt faster. ... Read full article
The branch closures will reduce overhead by an estimated $1.9 million a year. ... Read full article
The cost of Wells Fargo's scandals continues to rise as regulators from all 50 states forced the institution to pay hundreds of millions in penalties for the creation of fake accounts, improper enrollment in life insurance, force-placed auto insurance ... Read full article
JPMorgan Chase’s planned expansion into more than a dozen new markets threatens community banks and larger institutions alike. ... Read full article
After 10 years of conservatorship, the new year could finally usher in big steps toward housing finance reform. ... Read full article
Readers this year responded to Mick Mulvaney's leadership at the Consumer Financial Protection Bureau, the banking industry's role in the national gun debate, Rep. Maxine Water's upcoming leadership of the Financial Services Committee, the ... Read full article
Lawmakers and industry groups were caught off guard when FEMA said it wouldn't issue flood insurance policies during the government shutdown, despite an extension passed last week. ... Read full article
Despite some growing support for central banks issuing digital currencies, the practice raises important privacy concerns and questions about the structure of the banking system. ... Read full article
From stress tests to tailoring the Dodd-Frank Act to the Volcker Rule, the banking agencies have a number of important proposals to finalize in the coming year. But there are several potential obstacles that could throw those plans off track. ... Read full article
The alleged supervisory lapses occurred over a five-year period, according to the regulator. ... Read full article
Jonathan Gould, the committee's chief counsel, has been hired by the Office of the Comptroller of the Currency as senior deputy comptroller and chief counsel. ... Read full article
More traditional players interested in creating a safer market for digital assets have issued a checklist that cryptocurrency firms can follow to build confidence among banks, consumers and regulators. ... Read full article
President Trump expressed confidence in the Treasury secretary, Federal Reserve and U.S. economy on Tuesday. ... Read full article
It was a year to remember for women executives at SunTrust and Amex’s new CEO, and one to forget for Wells Fargo and investors in bank stocks. ... Read full article
The biggest question is whether new CFPB Director Kathy Kraninger will deviate from the pro-industry policies of her predecessor, or bring continuity. ... Read full article