GAO studies Federal Home Loan Banks' advances to failed banks
American Banker
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New details on rush of Home Loan bank borrowings at three failed banks: The Federal Home Loan Bank System stepped up advances by 37% or more to Silicon Valley, Signature and First Republic banks ahead of their failures, the US Government Accountability Office says in a post-mortem on last year's banking crisis. The findings add to the debate about whether the system should be a lender of last resort.
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Bank of America hurt by rising losses in credit cards, office loans: Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. 美国银行 executives say that the rising losses were in line with the bank's risk appetite.
Amid probes, Morgan Stanley vows not to change its wealth strategy: 摩根士丹利 CEO Ted Pick downplayed the importance of government investigations into potential money laundering issues involving wealth management clients. "We've been focused on our client on-boarding and monitoring processes for a good while," he said.
Inside FIS' use of AI to weed out false-positive card fraud alerts: When its broad-spectrum payment card fraud-detection filters generated too many false alarms, FIS implemented AI to help banks prioritize which types of fraud to investigate first, in part by muting lower-risk notifications.
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Unrelenting interest income pressure weighs down PNC's earnings: Pittsburgh-based PNC also emphasized expense control for the first quarter and throughout 2024 as it manages credit quality vulnerabilities and higher charge-offs, particularly among office loans.
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Q&A: Andy Barr pitches an 'America First' meets 'Chamber of Commerce' House committee. Rep. Andy Barr, R-Ky., is running to lead his caucus in the House Financial Services Committee and says he has the skills to meld traditional and insurgent wings of the party.
Read more in BankThink: What will it actually take to let big banks fail?
New Hampshire credit union hopes gift cards will give it an edge: Bellwether Community Credit Union's partnership with the New York ad tech firm Prizeout is working to build out gift card programs and generate added sources of non-interest income.
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10 个月Banking trends: increased advances to failing banks, rising losses, AI in fraud detection, and strategic responses. Join the discussion!