Big funds look to bypass banks; JPM looks to invest in bank tech company

06/27/19

Several large asset managers plan to meet directly with corporate clients to make loans; 10x Future Technologies promises faster and cheaper banking services.

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Lowering the bar on financial regulation is fraught with risk

06/27/19

A recent proposal by the Financial Stability Oversight Council to focus less on certain nonbank firms and more on risk activities would create unintended economic harm.

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Manulife puts AI chatbot at center of its digital challenger bank

06/27/19

Among other things, Kai, the insurance firm's AI assistant, will tell customers how to avoid the bank's monthly fee.

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Facebook's Libra will force a reckoning on crypto, privacy law

06/27/19

In the eyes of regulators, Facebook and bitcoin have a lot in common. Both challenge citizens' relationship to privacy, and both use technology in ways that current laws were unprepared for.

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Image enhancement: How Citi is restoring its good name

06/26/19

Once a poster child for corporate wrongdoing, Citi has bolstered its reputation by taking bold stands on polarizing social issues, such as climate change and gun control, and declaring its commitment to move more women and minorities into managerial roles. Here's how it aims to do even better.

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Why BofA is making it easier to use other companies' mobile wallets

06/26/19

By creating a close tie between digital debit cards and the major third-party mobile wallets, Bank of America is doing something few banks are — and expecting a payoff in broader use of digital financial services and “top of wallet” spending.

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Senators: Decision to halt FHA lending to DACA recipients is unacceptable

06/26/19

A group of Senate Democrats have called on HUD Secretary Ben Carson to reverse his agency’s opinion that borrowers in the Deferred Action for Childhood Arrivals program are ineligible for FHA loans.

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Bank of America will stop lending to private-prison firms

06/26/19

The decision follows similar moves by rivals JPMorgan Chase and Wells Fargo.

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A fintech innovation that may be hard for traditional banks to swallow

06/26/19

Challenger banks promote the concept of empathy in banking, which sometimes means forgoing revenue to build up customer goodwill.

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Do lending algorithms discriminate? Congress seeks answers

06/26/19

After years of largely standing on the sidelines, lawmakers are taking a closer look at whether algorithms used by banks and fintechs to make lending decisions could make discrimination worse instead of better.

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