Banks need to — and can — take steps to manage the phenomenon, first defined by a Japanese academic in the 1970s, where artificial intelligence looks, feels or sounds human and gives customers a creepy feeling, experts say.

The nation's largest bank, which acquired the remains of San Francisco-based First Republic following its failure this spring, has completed its plans to close 21 offices this year. But the consolidation effort is likely to continue.

Thomas Nides, a former U.S. ambassador to Israel and longtime Morgan Stanley executive, will take over the megabank's public affairs division as its work to fix regulatory concerns continues. He succeeds Bill Daley, the former chief of staff to President Barack Obama, who recently announced his retirement from Wells.

The Consumer Financial Protection Bureau issued guidance on the use of artificial intelligence in credit underwriting, saying that creditors are relying too heavily on a CFPB checklist and sample forms when they should provide specificity to explain why a consumer is denied credit.

Commercial real estate loans are a growing area of concern for banks. But OceanFirst says its exposure to a troubled shared credit tied to a Manhattan office building isn't a sign of broader problems in its portfolio.

Production costs, which typically run higher for such loans, can actually fall during a purchase market, a white paper published by the MBA found.

The FBI, NSA and CISA highlighted the emerging dangers of AI-powered deepfakes in phishing campaigns and cataloged protections companies can deploy.

High mortgage rates and little inventory explain why over 60% of homeowners did or will perform a repair project in the next year, a LendingTree survey found.

Following New York Community Bancorp's acquisition of Flagstar, the company is ditching the regional bank brands that it long used. CEO Thomas Cangemi calls Flagstar a "neutral" but "patriotic" name that underscores the firm's nationwide expansion strategy.

A joint letter from the banking and financial trade groups is the latest effort by the industry and its representatives in Washington to push back against the Basel III capital proposals, which would raise capital significantly for the largest banks.

Panelists from the Secret Service at a Mortgage Bankers Association conference Monday urged mortgage lenders to tweak their approach to reporting of wire fraud, home equity theft, investment scams and elderly-related financial crimes, which are on the rise.

The power to quickly ingest and analyze large loads of data has become more critical to many businesses that require quick turnarounds in their decision making, technology leaders said.

The avoidance of one of the harsher economic scenarios is good news for banks, which are also contending with tighter profit margins and increasing competition for customers. But loan growth and credit quality could be at risk.

Michael DeVito has been able to grow the government-sponsored enterprise's net worth, but at the current pace and without a rule change, it could take 10 years to build enough capital to exit conservatorship.

The Federal Deposit Insurance Corp. acknowledges in a new report that it didn't adequately monitor First Republic Bank's uninsured deposits, interest rate risk sensitivity and rapid growth — and as a result left the bank vulnerable to contagion.

Affordability is the No. 1 concern of millennials and Gen Zers, and that is also affecting views expressed in Fannie Mae's Home Purchase Sentiment Index.

When 55 banks were asked to provide metrics on the health of their commercial real estate borrowers, some of them gave data that was six months old. The survey by Moody's Investors Service also found that certain borrowers are already struggling, and others could hit trouble soon, since they'll need to refinance at high interest rates.

Fraudsters are leveraging advanced artificial intelligence to impersonate customers and deceive financial institutions, but the industry is fighting back with detection systems.

Working in tandem, they can help both the loan officer and a company increase their business and return on investment.

As the Latino population in the U.S. expands, so does the business case for banks and credit unions that want to tailor services for this audience.