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Financial Services

All articles tagged with #financial services

Treasury, Industry Unveil Practical AI Cybersecurity Toolkit for Banking
technology9 days ago

Treasury, Industry Unveil Practical AI Cybersecurity Toolkit for Banking

The U.S. Treasury, in support of the AI Action Plan, led a public-private collaboration to release six resources in February through the Artificial Intelligence Executive Oversight Group, aimed at strengthening governance, data practices, transparency, fraud prevention, and digital identity for AI in the financial system. The tools prioritize practical, non-prescriptive guidance to help financial institutions—especially small and mid-sized ones—adopt AI securely and more resiliently while promoting innovation.

via U.S. Department of the Treasury (.gov)|
#ai-governance#cybersecurity#financial-services
Trump escalates bid to curb CFPB amid cost-of-regulation claims
us-politics-and-policy11 days ago

Trump escalates bid to curb CFPB amid cost-of-regulation claims

The Trump administration has stepped up its bid to dismantle the CFPB, citing a White House–Council of Economic Advisers analysis that its rules have raised borrowing costs for Americans—estimates range from about $237 billion to $369 billion—while court rulings have kept the agency operating during litigation; Democrats counter with different cost calculations and highlight CFPB gains, noting the agency has returned nearly $20 billion to consumers and secured $5 billion in fines, but critics say the regulatory burden has restricted credit and driven up costs.

via Financial Times|
#consumer-financial-protection-bureau#donald-trump#financial-services
Goldman Sachs Promotes 638 to Managing Director Amidst Gender and Regional Shifts
business3 months ago

Goldman Sachs Promotes 638 to Managing Director Amidst Gender and Regional Shifts

Goldman Sachs promoted 638 employees to managing director, about 5% more than in 2023, with over 70% from revenue-generating divisions, reflecting a strong year for dealmaking and trading. The new class includes 27% women, with diversity statistics also provided, and the promotions are part of Goldman Sachs' biennial leadership advancement process.

via Business Insider|
#business#corporate-leadership#financial-services
Wall Street Bonuses Expected to Rise Again Amid Tech and M&A Boom
business3 months ago

Wall Street Bonuses Expected to Rise Again Amid Tech and M&A Boom

Bonuses in the financial sector are expected to rise significantly this year, with equity traders and investment bankers seeing the largest increases in a decade, driven by higher revenues and increased demand for talent, while Goldman Sachs partners emphasize a focus on talent and people. Meanwhile, notable transactions and personnel changes highlight ongoing shifts in the industry.

via eFinancialCareers|
#bonuses#business#financial-services
South Africa's Outsourcing Boom Turns Sector into Goldmine
business4 months ago

South Africa's Outsourcing Boom Turns Sector into Goldmine

South Africa's outsourcing sector, especially in financial services, has become a significant economic contributor, creating thousands of jobs and offering lucrative opportunities for young professionals, despite challenges like education quality and regional disparities. The industry is expected to continue growing, with potential expansion across Africa, providing hope and economic upliftment for many South Africans.

via BBC|
#business#education#financial-services
Global Investors Boost Confidence in Indian Banks Amid Market Uncertainty
business4 months ago

Global Investors Boost Confidence in Indian Banks Amid Market Uncertainty

Global investors are pouring approximately $15 billion into Indian banks this year, driven by the country's rapid economic growth, digital adoption, and stable regulatory environment, despite US credit jitters and trade tensions. Major deals include Emirates NBD's $3 billion investment in RBL Bank and IHC's $1 billion stake in a shadow bank, highlighting India's appeal as a lucrative market for foreign banks and investors. However, success in building profitable retail franchises remains uncertain due to intense local competition and past sector challenges.

via Bloomberg.com|
#banking-sector#business#deals