ABA Data Bank: Housing starts hit three-year low
Total housing starts in August fell 11.3% over the month to its lowest level since the summer of 2020. The post ABA Data Bank: Housing starts hit three-year …
Banking
Fed’s Susan Collins says rates may need to stay higher for longer
Federal Reserve Bank of Boston President Susan Collins said further interest-rate increases are possible and borrowing costs may need to stay higher for longer than previously expected for …
Brex, Ally roll out AI-driven chatbots| Bank Automation News
Ally Financial and Brex rolled out AI-driven virtual assistants this week. Ally debuted a customer representative assistant to help service team members aid clients more efficiently while Brex’s …
House Committee advances bills on FinCEN oversight, CBDC
The House Financial Services Committee today advanced legislation that would increase congressional oversight of the Financial Crimes Enforcement Network and prevent the Federal Reserve from issuing a central …
A small Colorado bank’s plan to fend off big SBA lenders
InBank in Denver is partnering with a software developer to expand its SBA lending operation nationwide. InBank, a small player in Small Business Administration lending, is looking to …
New roles for Murrell, Santiago at SVB| Bank Automation News
Silicon Valley Bank, a division of First Citizens Bank, named Martin Murrell the new head of global payments and Milton Santiago the new head of global digital solutions …
Consumer sentiment fell in September
Consumer sentiment fell 1.8 points in September after holding steady for the past two months but is still 9.1 points higher than a year ago. The Current Economic …
Puerto Rico bank linked to bribery scandal hit with $15 million BSA fine
Bancrédito International Bank and Trust Corp. “processed millions of dollars in suspicious transactions throughout the United States on behalf of high-risk customers,” the Financial Crimes Enforcement Network says.Africa …
AI to boost FI productivity
Financial institutions are looking to AI to enhance developer productivity and get products to market quickly. “Developer productivity is a huge use case [for AI] that is amazing,” …
Producer price index increased 0.7% in August
The Producer Price Index for final demand increased 0.7% in August on a seasonally adjusted basis, according to the U.S. Bureau of Labor Statistics. Final demand prices rose …