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Chatbots may provide inaccurate information, may run afoul of consumer financial protection laws and may force consumers into "repetitive loops of unhelpful jargon," the Consumer Financial Protection Bureau warned.

Jennifer Schachterle will oversee the Home Loan bank's relationships with nearly 330 members. Two former members — Silicon Valley Bank and First Republic — failed this year, and consolidation has also thinned its ranks.

Residents in the top five cities have an average median credit score of 800.4 in 2022, according to WalletHub.

Both loan demand and credit availability have contracted sharply, according to senior executives at several of the nation's largest banks. Their comments came against the specter of a potential recession.

The locations being shuttered are spread across eight states, according to a spokesperson. JPMorgan took over 84 First Republic branches when it bought the failed San Francisco bank a month ago. 

The top five depositories have a combined HELOC volume of more than $91 billion at the end of Q1 2023.

The Federal Deposit Insurance Corp. said in its quarterly banking profile that the banking industry remains resilient despite a challenging economic backdrop, but exposure to commercial real estate losses and interest rate risks could make continued stability difficult.

Those thinking about entering this space should consider whether they can build a sustainable operation in scale, niche or relationship lending, a report by Stratmor Group argues.

Once it is free to issue new debt, the Treasury Department is expected to quickly replenish its general account at the Fed. The move could lead to a shortage of reserves.

Limited regulation and elevated volatility limit current activity, but new offerings are still finding their way to market.

Call center staff must learn to play a new role as forbearance ends, according to Adam Saab, vice president and head of early stage default at Cenlar.

People in the industry use the terms interchangeably, but Washington State is warning brokers that they are not the same and other regulators could follow.

Manufactured units, down payment assistance and bond investments could help alleviate some of the issues facing aspiring homeowners, but inventory issues will persist, a panel of experts said.

The San Francisco-based bank — which regulators seized and sold to JPMorgan Chase early this month — was paying dozens of employees more than $10 million apiece annually in the heyday before its collapse.

The regional bank made the deal as part of an effort to bolster liquidity following turmoil among its peers.

JPMorgan bought First Republic Bank earlier this month after it became the second-largest bank failure in U.S. history and the fourth regional-bank collapse this year.

The bank said it agreed to sell a $2.6 billion portfolio of 74 real estate construction loans as part of its plan to shore up liquidity.

Artificial intelligence can help cut bias out of credit models. The Consumer Financial Protection Bureau should make it easier for lenders to adopt it.

Despite the "wow" factor, programs like ChatGPT are not, by themselves, the right tool for anything in the home loan space, argues the Director of Research at FormFree and Associate Director of the Institute for Artificial Intelligence at The University of Georgia.

During a Tuesday hearing, lawmakers talked through how to properly regulate the wide-ranging uses of AI. Some voiced support for forming a new AI agency.