ABA Fraudcast: The power of AI and trusting that voice on the phone

Delays in supervisory action ahead of the Silicon Valley Bank failure were not caused by regulatory tailoring mandates, despite an earlier Federal Reserve report alleging they were, Vice Chair for Supervision Michelle Bowman said, citing preliminary results from...

The Federal Reserve will soon propose a revised stress test model for noninterest income to better capture business diversity across firms, Vice Chair for Supervision Michelle Bowman said.

Financial institutions can also use the CSBS framework to assess their own AI programs, establish sound AI governance and risk management, and prepare for examinations.

The Senate Banking Committee voted along party lines to advance the nomination of Brian Johnson to be CFPB director. Committee members also voted unanimously to advance legislation reauthorizing the Terrorism Risk Insurance Program.

The bank may become more efficient, but not necessarily more strategic. The capacity dividend becomes valuable only when it is intentionally reinvested.

Proposed language in the Clarity Act giving regulators a short time frame to decide whether to close the stablecoin payment-of-interest loophole is no safeguard against the deposit flight that would harm many community banks, ABA and a coalition...