The Latest
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Retrieved from Vincent Roazzi Jr. / Money 20/20 on October 22, 2026
Plaid CEO: AI’s rise could fuel ‘scary year’ for financial security
“We're just in a dead sprint using AI to fight AI fraud,” Zach Perret, the data aggregator’s chief executive, said at the Money20/20 conference this week.
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Sponsored by Schneider Electric
The next AI decision financial institutions must get right
As AI moves into production, infrastructure strategy becomes a competitive differentiator.
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Paze sets big targets after revamp
The wallet’s bank owners are battling Apple and PayPal with an extensive marketing push, touting it as a more secure payment method.
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PNC CEO: Agent-only transactions ‘will never happen’
The Pittsburgh-based regional bank has made big bets on AI internally. But Bill Demchak said agents transacting could “mess with people’s lives.”
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FDIC’s Hill mulls agentic AI deposit impact
Travis Hill, speaking Tuesday in Las Vegas, also said he sees potential for AI to help the banking agency become more efficient in aspects of supervision and failed bank resolution.
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OCC issues final rule on stablecoin framework
The regulation bans direct yield payments to customers from stablecoin issuers, but the OCC said it would “evaluate” third-party yield arrangements on a case-by-case basis.
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BMO taps next US country head
The Canadian bank named Tim Cox, its U.S. general counsel and chief regulatory officer, as country head, effective Nov. 1. Darrel Hackett is retiring from the U.S. CEO role.
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Cross River to acquire customer-loyalty specialist Accrue
Adding the fintech’s branded-wallet platform, stored value and technology would let Cross River “offer partners a complete embedded finance stack,” the $8.5 billion-asset bank said.
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4 keys to Wells Fargo’s strategy to transform the bank with AI
In 2027, redesigning workflows with AI in mind is “the biggest area of focus” for Faraz Shafiq, the bank’s head of AI products and solutions.
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Michigan credit union to buy Florida bank
The acquisition of Sarasota’s Gulfside Bank fills a coverage gap between Tampa and Fort Myers for DFCU Financial, which is marking its fourth expansion in the Sunshine State.
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Ramp applies for national trust bank charter from OCC
The fintech announced last week it had raised $1.85 billion in a funding round. Ramp's application comes after a banking trade group sued the OCC over the recent influx of trust charters.
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Ill-fated Synapse talks led TabaPay to pursue Denver bank
Purchasing Synapse would have been “a half measure,” TabaPay CEO Rodney Robinson said. “So we learned to go full measure and get a bank.”
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Regulators, industry urged to collaborate as new tech scales
As agentic commerce and blockchain take off, regulators and industry players are underestimating “the need for true, timely action,” said a Treasury and National Security Council alum.
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Huntington launches small-biz operating platform
“We have a desire to have the most compelling value proposition for small businesses in the country,” Huntington President Brant Standridge said of the bank’s AI-powered 1866 Studio.
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Fifth Third CEO downplays risk from AI agent Muse
“Incumbents have a lot of leverage here, provided that we respond,” Tim Spence said Monday during the Cincinnati-based regional bank’s earnings call.
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Investment bank Evercore names 2 co-presidents
Nigel Dawn and Naveen Nataraj will ascend to the tier below the top executive, but one may have to wait to take the reins: CEO John Weinberg agreed to stay at least three more years.
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Recurring bill service ScribeUp raises $13M
ScribeUp aims to give financial institutions the ability to help consumers stay atop subscriptions and other recurring payments.
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Truist consumer-bank chief is out in leadership shakeup
Dontá Wilson, Truist's chief consumer and small business banking officer, is leaving the bank, which is also selling $7.7 billion of consumer loans to Carlyle.
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Epstein bill would push regulators to disclose bank probes
Bank executives could face industry bans, fines and criminal referrals under legislation proposed by Sen. Elizabeth Warren, D-MA.
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NYDFS fines Swedish bank SEB $33M over AML issues
Anti-money laundering program deficiencies at Stockholm-based Skandinaviska Enskilda Banken came to light following the 2016 Panama Papers leak that ensnared hundreds of banks.
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Apple Bank CEO seeks to ‘punch through to consciousness’
To get a foot in the door with customers, smaller players like the New York community bank need larger lenders to slip up, CEO Steve Bush said.
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U.S. Bank doubles down on small-biz growth
Following the recent launch of business credit cards, the Minneapolis-based lender seeks to win small-business customers by bundling services, CFO John Stern said.
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Column
Dive Deposits: JPMorgan denies Trump’s ‘bare’ blacklist claim
The bank’s lawyers said the president’s debanking complaint should be dismissed because it would would “fail – multiple times over.”
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What Wells Fargo, Citi and Goldman Sachs’ CEOs are saying about AI
Citi's Jane Fraser touted faster product launches and reduced vendor spend, while Goldman's David Solomon urged “rigorous testing” of AI, and “clear human accountability."
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OCC blasts debanking instances by JPMorgan, others in report
The agency combed through the policies and individual account-closing decisions at nine banks, alleging discrimination, mostly against conservatives. The CFPB also said it would investigate.
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BofA fined $1.21B over AML flaws
Bank of America failed to properly monitor trillions of dollars in transactions, according to the Office of the Comptroller of the Currency.
Updated Oct. 14, 2026