by Ken Chase | Apr 30, 2023 | Banks, News, Uncategorized
U.S. regulatory agencies this week confirmed that they are engaged in active monitoring of artificial intelligence in the financial industry. According to a group of agencies that included the Justice Department, Consumer Financial Protection Bureau (CFPB), and the...
by Ken Chase | Apr 29, 2023 | Banks, News
According to multiple media outlets, unnamed sources have reported that officials in the U.S. are working with financial firms to create a bank rescue solution for embattled First Republic Bank. Sources say that First Republic Bank could be taken into receivership by...
by Ken Chase | Apr 28, 2023 | Banks, News
The Federal Deposit Insurance Corporation (FDIC) and Federal Reserve issued reports on Friday that attempted to identify the reasons why two of the nation’s banks collapsed in March. According to those assessments, regulatory staff shortages played an important role...
by Ken Chase | Apr 25, 2023 | Banks, News
First Republic Bank shares plummeted to record lows on Tuesday, on the heels of the company’s recently released earnings report. That report confirmed that the bank’s deposits declined by more than 40% in the first quarter of 2023. Tens of billions of dollars in...
by Ken Chase | Apr 22, 2023 | Banks, News
In a news report released on April 21, Moody’s Investors Service downgraded the ratings of 11 regional banks. The company noted in its most recent assessment of the banking industry that the sector is continuing to experience instability due to high inflation and bank...
by Ken Chase | Apr 19, 2023 | Banks, News, Uncategorized
Despite their history of resistance to adopting open source software, banks are now increasingly embracing open source technology as they seek to counter the emerging challenge posed by fintech. Though many banks are still slow to adopt these innovations, most experts...
