MCLEAN, Va.--The 30-year fixed-rate mortgage averaged 6.51% this past week, Freddie Mac reported.
Fresh Today
SHANGHAI—JPMorgan Chase CEO Jamie Dimon said the bank expects artificial intelligence to reshape its workforce over time, potentially leading the company to hire more AI specialists and fewer traditional bankers in some roles, according to reporting by PYMNTS.
WASHINGTON—The Federal Reserve has moved closer to opening its payment infrastructure to financial technology and crypto firms, advancing a proposal for a new type of limited “payment account” that would allow eligible nontraditional financial institutions to directly access certain Fed payment rails without receiving the full privileges available to banks, Reuters reported.
WASHINGTON--Tuesday’s primaries across six states saw nearly every credit union-backed candidate prevail, America's Credit Unions reported.
WASHINGTON--Modernizing and improving the efficacy of the Bank Secrecy Act (BSA) and other laws would enhance consumer safety while providing needed regulatory relief for consumers America’s Credit Unions told Congress.
BUFFALO, N.Y.—Federal prosecutors in New York have charged six people in what authorities allege was a nationwide fraud scheme that stole more than $1.3 million from banks and credit unions using stolen federal tax refund checks and fake identification documents.
NEW YORK—The availability of buy now, pay later and merchant-offered installment plans is increasingly influencing where consumers choose to shop, book travel, seek healthcare and even buy groceries, with younger consumers and heavy pay later users showing the strongest response, according to new research from PYMNTS Intelligence.
ATLANTA—Federal Reserve Gov. Michael Barr said financial institutions should move beyond simply expanding access to accounts and focus more directly on whether products are improving consumers’ financial health.
BASEL, Switzerland—Artificial intelligence startup Anthropic is preparing to brief the Financial Stability Board on cyber vulnerabilities in the global financial system that its upcoming AI model, Mythos, may be capable of identifying, according to Reuters.
SAN FRANCISCO—The Ninth Circuit Court of Appeals has ruled that Bank of America can force business checking account customers into arbitration in a proposed class action accusing the bank of improperly charging overdraft fees, handing the bank a procedural victory in the long-running dispute over its account practices, Law360 reported.