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WASHINGTON—Artificial intelligence is rapidly reshaping cybersecurity risks facing the global financial system and now poses a potential systemic threat to banks, credit unions and other financial institutions, according to a new warning from the International Monetary Fund, as security experts caution that AI-powered attacks are accelerating faster than many organizations can defend against them.

WASHINGTON—The Senate Banking Committee on Thursday advanced the long-debated CLARITY Act, approving the sweeping digital-assets market structure bill on a 15-9 vote after a contentious markup process that included Democrats unsuccessfully pushing for votes on tougher stablecoin yield restrictions, according to POLITICO.

WASHINGTON--CHICAGO—A Chicago investment fund has filed a proposed class-action lawsuit accusing ServBanc Holdco, Servbank, IF Bancorp and IF Bancorp’s board of misleading shareholders into approving ServBanc’s acquisition of IF Bancorp and Iroquois Federal Savings and Loan Association.

WILLISTON, Vt.—EastRise Credit Union has named Robert Miller as its next president and CEO, with Miller set to officially assume the role on June 8, according to ABC 22.

DALLAS—Stablecoins are rapidly moving from the fringe of cryptocurrency into the center of global payments infrastructure, and credit unions risk falling behind unless they begin developing collaborative strategies now, according to one speaker at the Trellance EDGE 26 Technology Conference here Thursday.

DENVER—The announcement by PNC Financial Services that it will eliminate nearly 1,000 jobs tied to its acquisition of FirstBank is drawing renewed criticism from Colorado credit unions, which said the cuts underscore the risks communities face when local financial institutions are absorbed by large out-of-state banks.

ST. LOUIS--The Eighth Circuit Court of Appeals heard oral arguments this week in Corner Post v. Board of Governors, a lawsuit on the Fed’s debit interchange cap. In 2025, the U.S. District Court for the District of North Dakota ruled in favor of the retailers in a decision that would drastically lower interchange fee caps, America's Credit Unions noted.