SEC slashed offer to Wells Fargo whistleblower by $125M
The Securities and Exchange Commission initially offered $179.5 million to Michael Bacon, who provided key information to the government about Wells Fargo’s fake-accounts scandal. But shortly after SEC Commissioner Paul Atkins took office, the amount was sharply reduced.
Automating grunt work is still agentic AI’s sweet spot
Bankers and tech executives at SAS’s annual conference said agentic AI is still in the “terrible twos” stage and requires human supervision.
Bitcoin’s Overton window of opportunity is closing
The 21st century financial system that digital currency promised is being built, but by banks, not by the bitcoin crowd.
Economy added 115,000 jobs in April despite mixed signals
Employers hired an additional 115,000 workers in April, while unemployment remained unchanged at 4.3%. Despite the positive headline figure, a spike in newly unemployed workers and a rising number of underemployed workers suggests instability under the surface.
The banking industry is not ready for a world of AI-boosted hackers
The revelation that Mythos, the latest version of Anthropic’s Claude large language model, can unearth unknown vulnerabilities in computer systems and websites is a crisis moment, especially for community banks.
Georgia bank saw increase in problem SBA loans before it failed
Almost 60 SBA loans originated by Community Bank & Trust — West Georgia were classified as noncurrent, according to Small Business Administration records. Last week, Community became the second U.S. bank to fail in 2026.
Fed’s Cook: Tokenization won’t replace traditional finance
Federal Reserve Gov. Lisa Cook said Friday that she believes tokenization could improve efficiency across the financial system, including faster settlement times and more effective recordkeeping. But those advantages will take place within traditional finance rather than supplanting it, she said.
Treasury meets with life insurers to discuss private credit
The Treasury Department held a high-stakes huddle with state insurance officials to discuss risks associated with the rapid growth of private credit in the economy and whether those investments could pose systemic vulnerabilities.
US Bank, CoBank, Rocket share AI use cases at AWS event
The lenders’ examples of using generative artificial intelligence were more practical than transformational, but in any case data challenges represent a common problem.
Exclusive: Warren says OCC rule limits oversight to 5 banks
Sen. Elizabeth Warren, D-Mass., the ranking member of the Senate Banking Committee, warned in a letter to the Office of the Comptroller of the Currency Thursday that its proposed rollback leaves regional banks dangerously unsupervised.