As banks look to implement and scale AI within their operations, some executives want more clarity on regulations that govern how the technology can be deployed. “I actually…
Read more Sunwest CTO: More clarity needed on AI regulationRegulators are still at an “early stage” in their efforts to track the risks posed to the financial system by the rapid adoption of artificial intelligence, global financial…
Read more AI’s growth leaves financial regulators struggling to catch upOpen banking will not be won by moving data faster. It will be won by moving trust. As Section 1033 advances, the useful question is not whether information…
Read more Move trust, not data: How Section 1033 can make open banking workThe Consumer Financial Protection Bureau fined VyStar Credit Union $1.5 million today for the botched rollout of a new online banking system, which left clients unable to access…
Read more CFPB fines VyStar Credit Union $1.5M for ‘bungled’ platform rolloutBank of America Corp. said US regulators may take action against the firm over its efforts to detect suspected money laundering and sanctions violations, as well as its…
Read more BofA says U.S. may take action over money laundering, ZelleExperts are assessing the effects of the Personal Data Right rule on consumers, competition and innovation following the Consumer Financial Protection Bureau’s announcement of the finalized rule. …
Read more Final CFPB open banking rule to force innovationUS banks will now have to give customers access to their financial data after the top consumer watchdog finalized a long-awaited rule aimed at fueling more competition for…
Read more US banks prepare for new era of consumer financial data sharingTD Bank was ordered to pay $28 million in fines by the Consumer Financial Protection Bureau, which ruled the bank had shared inaccurate information about its customers to…
Read more CFPB fines TD Bank $28MThe Consumer Financial Protection Bureau is facing additional challenges that call into question the legality of the bureau’s funding. The Supreme Court upheld the CFPB’s funding mechanism in May. In several recent lawsuits, companies sued by the…
Read more CFPB funding under new scrutiny | Bank Automation NewsThe Consumer Financial Protection Bureau has once again made it clear that new AI- and machine learning-based technologies are held to the same consumer protection regulations as established technologies. Lenders…
Read more CFPB probes emerging AI-based tech | Bank Automation NewsAs AI in the banking industry continues to grow, financial institutions must be confident in the accuracy and security of the technology, according to the Bank of England’s…
Read more Bank of England explores risks of AI | Bank Automation NewsOpen banking regulation is in the works — finally. The Consumer Financial Protection Bureau (CFPB) announced in October 2022 a plan to propose a rule in 2023 requiring…
Read more Open banking: Catalyst for innovation, competition | Bank Automation NewsWhile the Consumer Financial Protection Bureau plans to step up enforcement action in the lending sector, the federal watchdog has yet to implement measures laid out in its own information…
Read more CFPB lags on information security updates | Bank Automation NewsRegulatory technology and fraud prevention are two areas that financial institutions should be investing in now to reduce losses and overhead costs. As state and federal regulators increase…
Read more Lenders should implement these 2 technologies now | Bank Automation NewsPhoto by Chris Williams For community banks, marketing often points to finding ways to educate, support and grow community, as well as customer knowledge and awareness. True relationships…
Read more Rebeca Romero Rainey: Authentic connectionPhoto by Ismail Rajo/iStock The time has come for the long-awaited FedNow launch. As community banks navigate this process, there are plenty of resources available to answer questions…
Read more The community bank guide to FedNow resourcesPhoto by Chris Williams I am grateful to have had the opportunity to serve as chairman. I will continue to advocate for community banking, and for the rest…
Read more Brad Bolton: Keep advocatingBankOnBuffalo president Michael Noah says the bank’s mobile branch will provide service to those who don’t have easy access to banks. Photos by Luke Copping Photography BankOnBuffalo has…
Read more BankOnBuffalo redefines mobile bankingBy Lindsay LaNore, ICBA The theme for ICBA LIVE 2023 is “Light the Fire. Light the Way.” As leaders, that’s a huge part of what we do: spark enthusiasm,…
Read more Lindsay LaNore: 7 ideas for cultivating inspirationValley Bank offers financial literacy education to women through Hoving Home. Valley Bank is working side by side with Walter Hoving Home, a place of refuge for women…
Read more Valley Bank helps lead women home
