John Dugan in January will succeed Mike O’Neill, who recently turned 72 and under Citigroup rules may not seek re-election to the board. Source: American Banker
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The Atlanta-based consumer lender, which partners with both retailers and banks, cited a higher-than-expected cost of funds as one reason for its less rosy forecast. Source: American Banker
Promontory Financial Group CEO Eugene Ludwig says AI tools can remove the risks — and discrimination — involved in opening the U.S. financial system to newcomers. Source: American Banker
The breach may have occurred through a technique called “credential stuffing,” in which hackers who have stolen passwords for other websites try them out on an online banking site. Source: American Banker
Big banks and fintechs are aggressively adding digital capabilities to process applications quickly, creating a sense of urgency for community banks. Source: American Banker
The New York-based online lender plans to spend an additional $15 million next year, largely on bank partnerships and international expansion. Source: American Banker
Anthony DeChellis will succeed Clayton Deutsch at the end of this month. Source: American Banker
The federal agencies said in a recent statement that “guidance does not have the force and effect of law,” but two trade groups say that standard should be more binding. Source: American Banker
Policymakers and industry officials should join forces in creating regulations and standards for cryptocurrencies, artificial intelligence and other innovations before they become more widespread. Source: American Banker
Bank discloses the possible repercussions from its alleged involvement in Malaysian fraud; are banks too blase about “systemic riskiness”? Source: American Banker
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