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Citi Compliance Resolution, AI Regulation Push, and Mastercard's Subscription Move
Manage episode 443352005 series 3586686
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Banking on Disruption Daily for Wednesday the 2nd of October, 2024
- Federal Reserve ends an 11-year-old enforcement action against Citigroup, marking improvements in their compliance controls.
- Federal Reserve Governor Lisa Cook calls for a unified regulatory approach to mitigate AI risks in financial services.
- Federal Housing Finance Agency proposes changes to enhance liquidity and strengthen financial operations for the Federal Home Loan Banks.
- CFPB targets illegal practices by medical debt collectors, proposing a rule to prevent unsubstantiated bill reporting.
- Mastercard acquires Minna Technologies to streamline subscription management via banking applications.
- Digital Federal Credit Union and First Tech Federal Credit Union announce a merger, creating a $28.7 billion entity to foster innovation.
- OpenAI expands voice assistant capabilities, enabling third-party app integration, showcased at their recent developer event.
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