Penny Crosman is Executive Editor, Technology at American Banker and its publisher, Arizent. Prior to taking on this role, she was Editor in Chief of Bank Technology News. She has held senior editorial roles at Bank Systems & Technology, Wall Street & Technology, Intelligent Enterprise, Network Magazine and Imaging Magazine.
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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.
November 12 -
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.
November 3 -
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.
October 22 -
Sen. Edward Markey warns that biased AI algorithms are making decisions that deny mortgages to Black people.
September 24 -
Ally customers are blaming the bank for data breaches at its vendors, arguing that basic cybersecurity measures would have prevented the thefts.
September 20 -
First Electronic Bank is using technology from Spring Labs to analyze its fintech partners' customer communications and identify problems.
September 5 -
If efforts to make AI-based loan decision models less discriminatory degrade accuracy, that is problematic for the entire industry.
August 22 -
The Consumer Federation of America and Consumer Reports sent a letter to the Consumer Financial Protection Bureau urging it to require banks to search for less discriminatory models. Later the same day, the CFPB issued a report saying it's doing just that.
June 27 -
In recent years, the wealth gulf between white and Black families has only grown. But there is hope that advances in fintech, such as wider adoption of artificial intelligence, can help.
June 6 -
The New York bank has deployed generative artificial intelligence from Greenlite to help analysts do enhanced due diligence on clients with higher risk ratings.
March 7
