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The lender claims it's been the first player in the industry to raise the threshold for three years in a row.

Executives at the super-regional bank told investors that years of investments are poised to start paying off in rising profits, but the market seemed skeptical about the company's plan forward.

The penalty by the Office of the Comptroller of the Currency is a major setback for the San Francisco bank, which was freed from a separate anti-money-laundering order in 2021. Its stock price fell sharply after the news broke.

Consumer Financial Protection Bureau Director Rohit Chopra said the action would "close the book" on the agency's investigation into the Sallie Mae spinout.

The latest violations come as the bank expects to face more than $3 billion in regulatory fines for anti-money-laundering failures.

The regional bank has already seen a large reduction in "criticized" loans, and it expects that trend to pick up as lower borrowing costs alleviate the pain in the commercial real estate sector.

Loan applications increased for the third week in a row, as borrowers responded to recent falling rates, the Mortgage Bankers Association said.

Mark McArdle advised attendees to remain cautious about the reasons behind implementation of artificial intelligence.

The analytics tool takes a look at geography and borrower activity to help pinpoint areas with high concentrations of loans at risk from natural disasters.

Federal Reserve Vice Chair for Supervision Michael Barr outlined the changes he and other regulators would like to see to the capital reform plan, including largely excluding banks with less than $250 billion of assets.