Penny Crosman

Organizations that represent Amazon, Apple, Meta, PayPal, OpenAI and many other large technology companies accuse the consumer watchdog, which has given itself authority over companies that facilitate at least 50 million consumer payment transactions per year, of regulatory overreach.

A bot from nCino lets people in the commercial lending department quickly find information in loan documents and in policy manuals that are hundreds of pages long.

The pro-business, deregulation-friendly administration is taking office at a time when economic conditions are improving for fintechs and their investors.

The incoming administration has experience from its previous run, Bank of America's chairman and CEO said. He also said he would not join it. 

Esusu, Foyer, Divvy Homes and Tomo Mortgage are among the fintechs trying to give first-time homebuyers a break, alongside community development financial institutions like Southern Bancorp. 

At the Most Powerful Women in Banking conference this week, New York's top banking regulator said banks need to take full responsibility for the artificial intelligence models they use, even if they bought them from a third party.

Sen. Edward Markey warns that biased AI algorithms are making decisions that deny mortgages to Black people. 

Ally customers are blaming the bank for data breaches at its vendors, arguing that basic cybersecurity measures would have prevented the thefts.

First Electronic Bank is using technology from Spring Labs to analyze its fintech partners' customer communications and identify problems.

If efforts to make AI-based loan decision models less discriminatory degrade accuracy, that is problematic for the entire industry.