Regulatory & Compliance

Can Generative AI Transform How We Combat Financial Fraud?
Regulatory & Compliance Can Generative AI Transform How We Combat Financial Fraud?

The financial industry is at the cusp of a significant transformation, driven by Generative AI (GenAI), which is rapidly becoming a crucial tool in the fight against modern financial frauds and crimes. The article by Ellen Roberson delves into the innovative applications of GenAI, highlighting

Aligning Metrics and Ethics: BoA’s Corporate Culture Overhaul
Regulatory & Compliance Aligning Metrics and Ethics: BoA’s Corporate Culture Overhaul

Bank of America (BoA) recently faced a corporate culture crisis, bringing to light critical disconnections between business metrics and ethical responsibilities. This misalignment severely impacted employee well-being and raised concerns about the firm’s long-term sustainability. Insights from c

Can OakNorth's New York Move Fill the U.S. Mid-Market Banking Gap?
Regulatory & Compliance Can OakNorth's New York Move Fill the U.S. Mid-Market Banking Gap?

The approval of OakNorth, a digital bank with a keen focus on supporting lower mid-market businesses, by the Federal Reserve and the New York State Department of Financial Services to establish a Representative Office in New York is a significant milestone. This pivotal development allows the bank

Is Bank Overreach Undermining Customer Trust in Security Measures?
Regulatory & Compliance Is Bank Overreach Undermining Customer Trust in Security Measures?

In today's digital age, banks are intensifying their security measures to prevent fraud and safeguard customer funds. However, this sometimes leads to instances where security protocols clash with customer convenience and privacy. One such incident involving British banking giant Starling Bank

Why Did Wall Street Firms Pay $470 Million in Record-Keeping Fines?
Regulatory & Compliance Why Did Wall Street Firms Pay $470 Million in Record-Keeping Fines?

The US regulatory landscape has taken a monumental step with over two dozen prominent Wall Street firms, including Bank of New York Mellon (BNY Mellon) and Truist, agreeing to pay a staggering $470 million in fines. This settlement is split between the Securities and Exchange Commission (SEC) and

UK Banks Face Compliance Woes with New Fraud Reimbursement Rules
Regulatory & Compliance UK Banks Face Compliance Woes with New Fraud Reimbursement Rules

The United Kingdom's banking and financial services industry is currently grappling with a significant challenge. The recent introduction of new fraud reimbursement rules by the Payment Systems Regulator (PSR) has placed immense pressure on banks, FinTech companies, and payment service

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