WASHINGTON--Monday the Defense Credit Union Council provided an official Statement for the Record ahead of the House Appropriations Committee, Subcommittee on Defense hearing on the Department of War’s Fiscal Year 2027 budget request and military financial readiness priorities.
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WASHINGTON--The Internal Revenue Service’s proposed Trump Accounts rule appropriately confirms that credit unions can serve as rollover institutions. Comments submitted Friday to the IRS by America's Credit Unions contain suggestions to ensure operational rules support this practice.
NEW YORK—JPMorgan Chase CEO Jamie Dimon is warning that Anthropic’s Claude Mythos represents a “very heightened risk” for the financial system, even as major banks and regulators assess whether the powerful AI model can also be used to identify and fix cyber vulnerabilities before attackers exploit them.
SAN FRANCISCO—Cryptocurrency exchange Coinbase is cutting approximately 14% of its workforce, or roughly 700 employees, as it restructures operations amid a prolonged slowdown in crypto trading activity and a broader push to integrate artificial intelligence deeper into the company’s operations, CoinDesk reported.
DAKAR, Senegal—Federal Reserve Governor Lisa Cook said tokenization could reshape global financial markets by improving cross-border payments, liquidity management and access to capital markets, while warning that the fast-growing technology also introduces new financial stability and cybersecurity risks that central banks must closely monitor.
FALMOUTH, Maine—Cumberland County FCU has named longtime executive Ryan Grund as its next president and CEO, effective July 1, Mainebiz reported.
NEW YORK— Consumers overwhelmingly want instant payouts when they are offered, but a new PYMNTS Intelligence report suggests the bigger issue for financial institutions is no longer convincing recipients that faster money is valuable—it is making sure the option is widely available and trusted where it matters most.
FRANKFURT, Germany—The European Central Bank is studying how to defend against potential cyberattacks powered by Anthropic’s AI model Mythos, even as European officials acknowledge they remain at a disadvantage because the technology has only been made available to select U.S. companies, according to Reuters.
WASHINGTON—The Senate Banking Committee will vote on the long-awaited CLARITY Act this Thursday, Committee Chairman Tim Scott (R-SC) announced Friday.
CHICAGO—The legal fight over the Illinois Interchange Fee Prohibition Act (IFPA) took another turn Friday after the Seventh Circuit Court of Appeals vacated a lower-court decision in the case and sent the matter back to the U.S. District Court for the Northern District of Illinois for further proceedings, effectively resetting a key stage in the battle over the controversial interchange-fee law.