US Regulators Add Artificial Intelligence to Potential Financial System Risks December 15, 2023 By Pete Schroeder Rapid adoption of artificial intelligence (AI) could create new risks for the U.S. financial system if the technology is not...
Wall Street WhatsApp, Texting Fines Exceed $2.5 Billion August 9, 2023 By Austin Weinstein Wells Fargo & Co. and BNP Paribas SA are among firms that will pay hundreds of millions of dollars in...
Banking Industry Starts to Pick Its Battles Against New Capital Rules August 7, 2023 By Douglas Gillison, Tatiana Bautzer and Nupur Anand Now that regulators in Washington have unfurled a hefty reform package of post-financial crisis capital regulations, banking industry advisers are...
SVB Financial Sues FDIC to Recover $1.9B Seized in Bank Rescue July 10, 2023 Bankrupt SVB Financial Group has sued the U.S. Federal Deposit Insurance Corp (FDIC) to recover the $1.93 billion that the...
FDIC Says Tougher Rules Coming for Banks Over $100B in Size June 22, 2023 By Pete Schroeder The head of the Federal Deposit Insurance Corporation said Thursday that bank regulators are considering applying an upcoming set of...
Wells Fargo Seeks to Settle ‘Banking While Black’ Mortgage Case June 5, 2023 By Joel Rosenblatt Wells Fargo & Co. is pursuing private mediation to settle claims of widespread discrimination against Black homeowners by denying them...
Update: JPMorgan Buys First Republic Bank’s Assets After Government Auction May 1, 2023 By Scott Murdoch, Niket Nishant and Chris Prentice Regulators seized First Republic Bank and sold its assets to JPMorgan Chase & Co. on Monday, in a deal to...
Fed Plans Broad Revamp of Bank Oversight After SVB Failure April 28, 2023 By Ann Saphir, Hannah Lang and Chris Prentice The Federal Reserve issued a detailed and scathing assessment on Friday of its failure to identify problems and push for...
First Republic, KPMG Are Sued for Concealing Bank’s Risks April 25, 2023 By Jonathan Stempel First Republic Bank has been sued by shareholders who accused the beleaguered U.S. regional bank of concealing how rising interest...
Global Watchdog Issues Blueprint for Banks to Report Cyberattacks April 14, 2023 The G20’s financial watchdog on Thursday recommended a blueprint for banks to report cyberattacks in a common format in a...