Jeffrey Kutler

Jan 24, 2025 | garp.org | Jeffrey Kutler

Wells Fargo & Co. earned $19.7 billion in 2024, “a year of significant progress,” its CEO proclaimed. Silicon Valley Bank failed nearly two years ago, stoking fears of a systemic financial crisis. Both institutions remain under the clouds of regulatory discipline. On January 14, the Office of the Comptroller of the Currency (OCC) announced enforcement actions against three former Wells Fargo Bank executives stemming from “systemic and widespread sales practices misconduct” in and before 2016.

Nov 26, 2024 | garp.org | Jeffrey Kutler |David Weldon

On both the supply and demand sides of artificial intelligence, there is consensus that technology so powerful and transformative needs governing principles and ethics, operational guardrails and sound risk management. Yet corporate leaders must try to chart their courses while legal clarity and certainty are still lacking. The open regulatory and governance questions may be contributing to some mixed messaging in executive ranks.

Jul 25, 2024 | garp.org | Jeffrey Kutler

“Too critical to fail.”Is that what regulators mean – more precise semantically if not quantifiably – when they regard a bank as being too big to be allowed to fail? Might “too critical” widen the policy lens to encompass not only the biggest banks, not only those and nonbank institutions whose collapse would jeopardize market and economic stability, but also operations and technologies on which those entities and qualities are increasingly dependent?

Jul 11, 2024 | garp.org | Jeffrey Kutler

Regulators and researchers continue to pore over events leading up to the March 2023 failures of Silicon Valley Bank and Signature Bank and how they reverberated through the financial system. One recent finding, in a Federal Reserve Bank of New York staff report, is that not two banks, but 22, faced sudden and significant runs around the same time.

May 30, 2024 | garp.org | Jeffrey Kutler

It is a sign of the times that wherever business leaders gather, conversations converge on artificial intelligence. The subject came up countless times during the recent Milken Institute Global Conference, with an added twist from State Street Corp. Chairman and CEO Ron O’Hanley.