NEW YORK—U.S. banks are scrambling to repair scores of information technology weaknesses uncovered by Anthropic’s powerful but costly Mythos artificial intelligence tool, triggering urgent software upgrades and raising concerns over potential customer disruptions, according to a new report from Reuters.
WASHINGTON--Several years after it implemented the current expected credit loss (CECL) accounting standard, the Financial Accounting Standards Board (FASB) conducted a roundtable Tuesday to review how the standard is working.
WASHINGTON—The House has passed bipartisan legislation designed to ease examination requirements for certain credit unions, drawing praise from both America's Credit Unions and Defense Credit Union Council, which said the measure would reduce regulatory burden while preserving safety and soundness standards.
WASHINGTON—Speaking during a Federal Reserve roundtable on the implementation of the Current Expected Credit Loss accounting standard Tuesday, Federal Reserve Vice Chair for Supervision Michelle Bowman said CECL “clearly did not improve safety and soundness” and called for community banks to receive relief from the rule through repeal, exemption or a practical expedient, the ABA Banking Journal reported.
WASHINGTON—Federal Reserve Vice Chair for Supervision Michelle Bowman said regulators are preparing changes to the CAMELS ratings system used to grade banks’ condition, saying the effort is part of a broader push to make supervision focus more directly on “material financial risks,” Law360 reported.
HERSHEY, Pa.—Credit union professionals and risk management experts gathered at The Hotel Hershey here April 22-24 for Vizo Financial’s 2026 Risk Management Conference, a multi-day event focused on education, networking and emerging industry risks.
WASHINGTON—The Senate Banking Committee has released the text of a digital asset market structure bill that will serve as the basis for Thursday’s markup of the CLARITY Act, the next major test for legislation intended to establish clearer federal rules for cryptocurrencies and other digital assets.
MADISON, Wis.—CUES has launched CUES Leadership & Organizational Services, a new advisory practice aimed at helping credit unions navigate operational, leadership and strategic challenges through customized consulting support.
WASHINGTON—The Senate on Tuesday confirmed Kevin Warsh to a 14-year term on the Federal Reserve Board of Governors, clearing the way for a final vote expected as soon as Wednesday to make him chair of the central bank, according to POLITICO.
WASHINGTON—U.S. inflation accelerated sharply in April, with higher energy, housing and food costs pushing the Consumer Price Index higher and complicating expectations for potential Federal Reserve rate cuts later this year.
