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KENNEWICK, Wash.—Doug Wadsworth, president and CEO of Tri-CU Credit Union, said he plans to retire from the $74-million credit union in early 2027, with current Vice President of Lending Trevor Galey selected by the board to succeed him.

WASHINGTON—Banks tightened lending standards for business loans in the first quarter while demand remained largely flat, according to the latest Federal Reserve Senior Loan Officer Opinion Survey, a snapshot that points to continued caution among lenders amid economic uncertainty.

WASHINGTON—America’s Credit Unions is supporting NCUA’s proposed modernization of its records preservation rule, saying the changes would clarify that the regulation is focused on vital records needed to restore member services after a catastrophic event—not on creating a broader record-retention mandate.

SAN FRANCISCO—OpenAI has launched a new cybersecurity initiative called Daybreak, saying the program is designed to help cyberdefense teams identify software vulnerabilities and respond to threats faster using artificial intelligence.

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.

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.