Bank regulators have concepts of a plan to deal with AI
In a string of speeches last week, the top federal banking regulators outlined goals and framed their thinking about artificial intelligence in financial services, but the biggest questions around liability and widespread adoption remain unanswered.
Fed’s Waller leaning toward rate cut but open to a ‘skip’
Federal Reserve Gov. Christopher Waller, a Trump appointee, said that while recent inflation readings are concerning, monetary policy would remain restrictive even if the central bank cuts interest rates by another quarter-point this month.
Where did the money go? Latest from Synapse bankruptcy, Evolve
Banks have been returning some funds to fintech customers affected by the Synapse collapse, but a multimillion-dollar discrepancy between how much Synapse says customers are owed and how much the banks say they have remains.
Payments at the end of 2024: Lots of cliffhangers
As 2024 comes to a close, trends such as open banking, fights over credit card fees and the future of faster payments are still in flux.