JPMorgan Chase faces a lawsuit over low interest rates in its cash sweep program, accused of breaching fiduciary duties and gross negligence. The bank is also under scrutiny for Zelle network transactions, while a London High Court ruling resolved a legal dispute concerning Viva Wallet.

In earnings news, BMO Financial Group missed third-quarter expectations due to higher provisions for potential credit losses. Despite this, its net income and revenue saw growth, driven by its Canadian operations and the acquisition of Bank of the West in the U.S.

In regulatory news, a federal judge dismissed a lawsuit challenging the CFPB's rule requiring demographic data on small business borrowers. Meanwhile, the FDIC is dealing with the impacts of a Supreme Court decision limiting in-house judges, waiving civil fines but seeking restitution in a notable case.

41% of financial institutions now offer embedded finance solutions, a shift driven by FinTech advancements. However, challenges such as regulatory uncertainty and API security remain, especially in the UK and Europe.

Businesses are increasingly using AI-generated imagery and video, despite minimal regulatory guidance. These practices raise intellectual property and consent issues, with varying opinions on disclosure and ethical implications.