U.S. Bancorp reported record consumer deposits and a 11.5% rise in credit card loans, while dismissing the immediate threat of AI agents shifting customer cash between banks.
Agentic AI tools may trigger a mass migration of bank deposits to high-yield fintech platforms, threatening the profit margins of traditional lenders.
SoFi Technologies has expanded its deposit base to $45.5 billion, marking a 33-fold increase since the company secured a national bank charter in 2022.
India has attracted a record $127 billion in diaspora deposits through a new zero-cost hedging facility, though the rupee continues to face downward pressure.
RBI Governor Sanjay Malhotra defends the $136 billion FCNR(B) deposit program, asserting it generates net revenue despite analyst warnings of high hedging costs.
The FDIC has increased the cap on reciprocal deposits for qualifying banks up to $30 billion to help them attract more business cash.
