Senate Confirms Mnuchin as Treasury Secretary

If the regulatory environment is not receptive to the use of artificial intelligence by financial institutions in fighting fraud or aggregating data, then customers will be the ones who suffer, Federal Reserve Governor Michelle Bowman said.

National Council of Insurance Legislators adopted a bipartisan, ABA-initiated resolution supporting the creation of state and federal legislation to establish disaster savings accounts.

FinCEN announced it has joined a task force that brings together government agencies and the private sector to coordinate a national response to fraud and scams.

President-elect Trump on Friday nominated hedge fund manager Scott Bessent as Treasury Secretary. Bessent is the founder of investment firm Key Square Group.

The U.S. banking system remained sound and resilient, with regulatory capital ratios approaching or exceeding historical highs, the Federal Reserve said in the second of its two yearly reports on the nation’s financial stability.

The FedNow instant payments service saw nearly $17.5 billion in transactions in the third quarter of the year, up from less than $500 million in the second quarter.