At banks, generative AI helps novices, not skilled workers
Pilots of the technology show it can produce double-digit productivity improvements. But among experienced staff, it can have a negative impact.
OCC tells Florida community bank to step up AML oversight
The regulator cited Axiom Bank for unsafe and unsound practices as well as violating the Bank Secrecy Act and anti-money laundering requirements.
‘It’s a frenzy’: JPMorgan Chase, Capital One dominate AI arms race
The banks top a list of the largest banks in terms of AI talent, innovation and leadership.
FDIC to meet minimum deposit insurance fund ratio sooner than expected
The Federal Deposit Insurance Corp. projected its Deposit Insurance Fund reserve ratio is expected to reach the statutory minimum of 1.35% by 2026 thanks to slower-than-expected insured deposit growth and a $7.5 billion increase in the DIF balance.