#banks

22 posts · Last used 2d

" The Bank for International Settlements has warned that an AI bust could hit credit markets as hard as 2008, precisely because so much of the buildout runs through debt and circular deals. Those interlocking arrangements are what unsettle regulators. When chipmakers, cloud providers and model developers invest in one another, a stumble at any one node can ripple outward, and the exposure is harder to see from the outside." https://thenextweb.com/news/a-fed-official-is-asking-whether-ai-is-becoming-too-big-to-fail #AI #Economics #Bubble #TooBigToFail #Banks
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Did RBC steal your money? Why isn't our banker PM commenting on the many banks stealing our money? Will any bank executives go to jail for stealing our money? Why do people trust scheming banks when credit unions are far more trustworthy. "The firm filed similar lawsuits against other Canadian commercial banks for similar claims, including a $70 million settlement with TD Bank in December." https://globalnews.ca/news/11968199/rbc-class-action-settlement/ #Canada #CdnPoli #CorporateCrooks #Banks
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The new Banking On Climate Chaos report reveals just how much big banks are pouring into fossil fuels, contributing to the climate crisis and locking us into fossil fuel dependency. Is your bank one of them? https://www.bankingonclimatechaos.org #climate #ClimateChange #ClimateCrisis #BankingOnClimateChaos #DefundClimateChaos #bank #banks #fossilfuel #fossilfuels
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I'm curious. Why does it take banks and credit card companies so long to process payments? Come to think of it, why does it take so long to process charges? I cannot pay from an account unless there are enough funds. I cannot make a charge unless my phone recognizes me but in the payment instance, the credit card company, (usually the bank) charges interest at whatever per day until someone somewhere?, some programmed delay finally tells the credit card a payment has been made. This doesn't amount to much, individually but, credit card companies, just in Canada, process billions of dollars. Perhaps they are jealous that Elon Mush is worth a trillion and want in on the action. #Banks #interest #fraud
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PBS NewsHour - The Latest | How to recognize and block AI-powered scam attempts by Paul Solman, Ryan Connelly Holmes AI generated summary, Read the full article for complete information. In this PBS NewsHour segment, Paul Solman explains that scams are getting harder to avoid because fraudsters now use artificial‑intelligence tools—such as realistic voice‑cloning—to impersonate trusted individuals, with seniors often being the primary targets; the report describes how these AI‑powered scams operate, offers practical tips for spotting them (like questioning unexpected requests for money or personal information, verifying callers through independent channels, and recognizing synthetic‑voice cues), and outlines steps to protect yourself, including using call‑blocking features, reporting suspicious activity, and staying vigilant about emerging AI‑driven deception techniques. Read more: https://www.pbs.org/newshour/show/how-to-recognize-and-block-ai-powered-scam-attempts #AI_poweredscams #voicecloning #banks #artificialintelligence #scams
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undefined | Contributor: It's not just you. Being a consumer really has become hellacious by Diane Negra Busy, distracted, and anxious, many of us have become oblivious to the growing amount of work we perform as customers. A 2025 U.K. report found that 78 % of respondents feel frustrated when dealing with customer‑service systems and that, on average, people spend between 28 and 41 minutes each week battling these interfaces. Even the simplest retail interactions have been transformed into new tasks: shops now hide their opening hours behind QR codes that must be scanned, exposing users to “quishing” attacks that harvest private data. Cost‑cutting measures that shift decision‑making away from front‑line staff onto consumers have turned banks, airlines, and other service providers into sites of predatory anti‑consumer policies, where “extras” are sold back to us as premium experiences. Corporate language further masks the labor demanded of customers. Phrases such as “mortgage journey” or “thank you for your interest” give the illusion of choice while stripping real agency. On‑site staff with authority have largely disappeared, replaced by elaborate digital dispute‑resolution processes that require customers to supply exhaustive booking codes, reservation numbers, and other details before a complaint is even considered. Government agencies have adopted similar tactics; in 2024 New York Mayor Eric Adams’ administration required elected officials to complete a six‑page Google document before contacting city staff. This cultural silence—where people rarely share how much time they waste navigating opaque systems—helps maintain the status quo. Outsourcing intensifies the problem by shielding firms from accountability, and the promise of “convenient” digital tools often masks new profit streams. As cash use declines, merchants raise prices to cover credit‑card interchange fees, while software engineers like Gergely Orosz note that “customer‑complaint handling at scale is broken in most tech companies.” The article concludes that the abandonment of functional, well‑resourced customer service is a fundamental flaw of contemporary business culture, a theme explored in Diane Negra’s forthcoming book *I’m Sorry You Feel That Way: The New Cultures of Customer Service*. Read more: undefined #UK #customerservice #banks #airlines #governmentagencies
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