How AI could make cloud computing riskier for banks
American Banker
In-depth analysis, perspective and commentary on key issues affecting the banking industry.
Does AI increase cloud computing risks? Banks are turning to the same hyperscalers for cloud computing and generative AI. Some wonder what the consequences will be down the road.
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Read more on tech: Customer satisfaction falls at digital banks, J.D. Power says
House votes to nullify crypto custody guidance; Biden vows veto. The House advanced a resolution that would roll back a Securities and Exchange resolution that banks argue cuts them out of the crypto custodying business, but President Biden said he would veto it if it passes the Senate.
Senate deals death blow to Durbin II inclusion in FAA: The next major chance the lawmakers could have on the so-called "swipe fee" legislation will come next year as Congress looks toward a tax package.
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Fed report: Climate change could raise loan defaults for biggest banks. The Federal Reserve Thursday released a report on its climate stress test pilot assessing the impact of climate change on big bank portfolios and found that loan defaults could increase as a result of climate events and shifts towards a lower carbon economy.
Read more on regulation: Airline rewards credit cards come under attack at CFPB-DOT hearing
FTC vs. payment firms (and fees): What the regulator's watching. The Federal Trade Commission recently blasted two companies for their murky business practices and confusing charges. Industry experts say many digital and recurring payments are inviting more regulatory scrutiny.
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