Kansas banks runs afoul of money laundering standards again
Small Business Bank in Lennox, Kansas received another cease-and-desist order from the Federal Reserve for failing to comply with anti-money laundering and Bank Secrecy Act requirements for the second time in 14 months.
CFPB’s Chopra: AI can be the key to fairer credit scoring
Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, predictiveness and market competition, and stakeholders should develop a more open-sourced model that uses artificial intelligence.
Gary Gensler plans to step down from SEC in January
The SEC chair's ambitious agenda drew fierce resistance from Wall Street and the crypto industry.
Trump 2.0 and other catalysts for bank stocks in 2025
Analysts say lenders' shares could rally on deregulation, lighter tax burdens and a resurgence of M&A. Declining interest rates and lower loan losses could further bolster bottom lines and attract investor interest.