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U.S. regulators warn banks about Anthropic’s powerful new AI model
Treasury Secretary Scott Bessent and Fed Chair Jerome Powell met with CEOs of Bank of America, Citi and Wells Fargo to flag cyber‑risk from Anthropic’s Claude Mythos Preview. The model can uncover software vulnerabilities that human developers miss, raising concerns that malicious actors could exploit the insights.
Also developing:
Nithin Kamath marks a decade of India’s Unified Payments Interface (UPI), noting that the government‑backed BHIM app commands only about 1 % of UPI transactions despite being the flagship offering. He recounts Zerodha’s repeated internal debates about building its own UPI solution, only to conclude that BHIM already exists. The post highlights key milestones such as the 2016 demonetisation push, crossing the $1 trillion transaction‑value mark, and the rollout of QR‑code and auto‑pay features. Kamath urges readers to try BHIM, describing it as a slick experience.
DTCC creates dedicated tokenization business line within its clearing division - Ledger Insights - blockchain for enterprise https://t.co/Qlt4zdfjnM https://t.co/kqu3PcsTu0
Italian lender UniCredit reiterated on April 10 that it will not liquidate its Russian subsidiary or surrender its banking licence, despite recent media speculation. The bank’s CEO Andrea Orcel emphasized that an exit would harm shareholders, so the institution will keep...
JUST IN: The Fed is probing major US banks' exposure to private credit amid surging fund redemptions and mounting troubled loans.
Smart Axiata, the Cambodian arm of Malaysia's Axiata Group, has obtained a $50 million financing facility from Maybank Cambodia to speed up 5G network deployment and broader digital infrastructure. The deal aligns with Cambodia’s Digital Economy and Society Policy Framework and...
The Federal Reserve is “investigating” major US banks about their exposure Major US banks are blocking retail from earning YEILD on stablecoins.
My Bridge Loan announced a sharp uptick in demand for short‑term bridge loans to fund 2026 commercial real‑estate acquisitions. The West Palm Beach‑based lender cites higher interest rates, tighter underwriting and intense competition for multifamily assets as drivers of the...
Drawstops are contractual clauses that let lenders halt new advances when specified events occur, serving as a middle‑ground between full acceleration and unrestricted funding. In fund‑finance deals they are most contested in revolving subscription lines and NAV facilities, where lenders...
Kenya's central bank governor Kamau Thugge said Nairobi will resume IMF negotiations in Washington this month, signaling a softer stance after the Iran‑US conflict widened the current‑account gap and forced a downgrade of the 2026 growth forecast to 5.3%. The...
Monzo announced it will open accounts to Irish customers this week, aiming to serve the 14,000 people on its waitlist. The move follows a stalled US expansion and leverages the Dublin headquarters and a newly‑acquired EU banking licence to reach...
Payoro Finance Ltd. announced it is the first company registered with the Bank of Canada under the Retail Payment Activities Act (RPAA). The registration adds a federal payment‑service licence to its existing FINTRAC MSB status, giving the Toronto‑based fintech a...
The Trump administration’s FY 2027 budget request seeks to eliminate the Community Development Financial Institution (CDFI) Fund’s core financial and technical assistance programs, redirecting most of the remaining $119.5 million to a new Rural Community Development Fund. More pressing, however, is the...
U.S. Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell convened senior executives from Bank of America, Citi and Wells Fargo to flag cyber‑risk from Anthropic’s new AI model, Claude Mythos Preview. The model can uncover software vulnerabilities that human developers miss,...
The Consumer Financial Protection Bureau (CFPB) has proposed slashing its workforce to 556 staff, down from 1,100, after a year of funding uncertainty. The agency’s budget constraints stem from the One Big Beautiful Bill, leaving a regulatory gap in financial...
The $84 trillion wealth slated to move to heirs by 2045 is pushing trusts into the mainstream, widening asset types and geographic spread. Zurich North America’s Trey Martino warns that banks, fintechs and other fiduciaries now face heightened insurance and regulatory risks...
Mortgage rates have climbed again, adding fresh pressure to an already tight spring housing market. The rise comes amid higher utility bills, elevated construction material costs and tighter credit conditions, tightening affordability for prospective buyers.
The Federal Reserve has begun asking major U.S. banks for detailed data on their exposure to private‑credit funds after a wave of redemptions and rising loan defaults in the sector. Simultaneously, the Treasury is questioning insurers about similar holdings, signaling...
On April 7, 2026, the FDIC and OCC issued a final rule barring regulators from using reputation risk as the sole basis for supervisory or enforcement actions. The rule requires examiners to rely on quantifiable risks—credit, liquidity, legal, or operational—when assessing...
Wall Street banks, including Goldman Sachs and Citigroup, are piloting Anthropic’s Mythos AI model to strengthen cyber‑risk detection, while JPMorgan Chase is the sole institution highlighted in the Treasury‑backed Project Glasswing. U.S. Treasury Secretary Scott Bessent and Fed Chair Jerome Powell convened an...
Perplexity has expanded its partnership with Plaid to let U.S. and Canadian users link bank accounts, credit cards and loans directly within its AI platform, providing read‑only, real‑time access to data from over 12,000 financial institutions. The integration enables users...
Wall Street banks are beginning internal trials of Anthropic's Mythos large‑language model, with JPMorgan Chase leading the effort. The Trump administration is urging financial firms to deploy the AI tool to spot cyber‑security and operational vulnerabilities. While JPMorgan is the...
HSBC announced David Rice as its first Chief AI Officer on March 23, creating a dedicated C‑suite role to embed generative AI throughout the bank’s global business. Rice, formerly COO of HSBC’s Corporate and Institutional Banking division, will report directly to...
BingX announced a two‑week Global Capital Gala, featuring a $500,000 prize pool, 24/7 access to over 100 traditional assets and leverage up to 500x. The campaign aims to draw retail traders into its TradFi suite and signals new partnership opportunities...
First Bancshares, Inc., the holding company for Stockmens Bank, reported unaudited Q1 2026 results showing net income of $2.12 million ($0.88 per share), up from $1.69 million a year earlier. Total assets rose 9.4% to $590.5 million, while loans grew 20.4% to $496.8 million and...
Lloyds Banking Group announced it will not pursue legal action against the United Kingdom’s £9 billion (approximately $11.5 billion) car‑finance redress scheme. The scheme, overseen by the Financial Conduct Authority, aims to compensate consumers who were mis‑sold car‑finance products. Lloyds’ decision avoids...
On Friday, the Bank of Canada gathered senior executives from the nation’s largest banks and financial firms to discuss cybersecurity risks associated with Anthropic PBC’s newly released AI model, Mythos. The meeting mirrors a U.S. initiative earlier in the week, where...
The UK Financial Conduct Authority (FCA) is piloting a data‑driven framework that uses credit‑file information from a major credit reference agency to forecast consumer distress earlier than traditional metrics. By applying advanced statistical techniques, the FCA classifies borrowers into five...
American Banker’s analysis shows tokenized deposits are gaining traction faster than stablecoins among U.S. banks. Nineteen of the 50 largest banks are developing tokenized‑deposit strategies, compared with 15 pursuing stablecoins, and four banks already offer deposit tokens versus one stablecoin...
The FDIC announced it is rescinding guidance FIL‑32‑2023, which warned banks that charging multiple nonsufficient‑funds (NSF) fees for a single transaction could be deemed unfair or deceptive under the Federal Trade Act. The agency said the guidance was overly broad...
The European Central Bank is advancing its digital euro project, originally launched in 2020, as EU legislation clears the path for implementation. The digital currency is envisioned as a cash‑like token to complement physical euros in everyday transactions. ECB officials...
The Reserve Bank of India has released a discussion paper proposing a one‑hour delay for person‑to‑person UPI transfers exceeding ₹10,000, aiming to give users a “golden hour” to stop authorised push‑payment scams. The move follows a ten‑fold rise in fraud...
The U.S. Treasury’s Office of Cybersecurity and Critical Infrastructure Protection launched a cybersecurity information‑sharing program that will deliver actionable threat intelligence to eligible digital‑asset firms and industry groups, fulfilling a key recommendation from the President’s Working Group on Digital Asset...
Revolut has launched its AI‑powered personal finance assistant, AIR, to customers in the United Kingdom on April 9, 2026. The tool promises real‑time spending insights, portfolio checks, subscription management and travel budgeting, marking the neobank’s biggest product expansion in a year.
The Federal Reserve Board has opened a 60‑day public comment period on a proposal that would let U.S. banks and credit unions route FedNow transfers through intermediaries. The change would align FedNow with Fedwire and could enable instant domestic settlement...
The FDIC and OCC finalized a rule that bars bank examiners from issuing complaints based solely on reputational risk, except when the issue directly threatens a bank's financial or operational condition. The exception expands supervisory discretion beyond the original proposal,...
The Bangko Sentral ng Pilipinas (BSP) will adopt a wait‑and‑see approach ahead of its April 23 policy meeting, citing the need for clearer evidence of second‑round inflation from the current global oil shock. March inflation accelerated to 4.1 percent, overshooting the central...
The Federal Housing Administration’s recent mortgage‑insurance‑premium (MIP) reductions have not lowered overall housing costs but have instead shifted market share from GSE‑backed loans to FHA. Empirical analysis shows a 2.5‑point boost in price appreciation in neighborhoods with high FHA presence...
The article argues that central governments already provide extensive lending through specialized agencies—EXIM in the U.S., BDC in Canada, and the UK’s export‑finance arm—rather than needing a full‑scale public bank. It highlights major consumer‑focused programs such as mortgage insurance by...
Nordic banks are grappling with a surge in digital fraud as cashless payments dominate the region. Norwegian banks blocked roughly NOK 2.3 bn (about $250 m) and Danish banks prevented DKK 500 m (around $70 m) in attempted fraud in 2025. At the same time, compliance...
FINTECH FLASHBACK: 21 YRS FROM THE 1ST BNPL On this day in 2005 (April 10, 11:06:40 AM): Klarna (then called Kreditor) processed its very first transaction. The merchant: Pocketklubben, a small bookstore in Stockholm, Sweden. The customer...
So the Treasury Department is encouraging banks to use and test Anthropic to prepare for new vulnerabilities… While the Department of War claims Anthropic is a “supply chain risk” for DoW and all their contractors…. Make that make sense https://t.co/vkDB1ezk88 https://t.co/jZD9h5yQVo
Repay Holdings announced a $372 million cash‑plus‑debt acquisition of Kubra Data Transfer, aiming to merge complementary payment platforms. The combined entity would have generated roughly $548 million in revenue and $178 million of adjusted EBITDA last year. Veradace Partners, an 8.4 % shareholder, publicly...
"Hello Friends": A special @TheMasters edition of the "Friday Night Dirty" from our "What Are We Doing" Substack. @Seawolfcap @VD718 and myself focus on what is driving markets and what to watch for next week as the Banks kickoff earnings...
Machine Payments have started. Consistent. Real volume. And growing. The early signs for @mpp are VERY encouraging.
Bank Pekao has extended a €22.5 million (≈$24.5 million) development loan to Panattoni for a build‑to‑suit manufacturing facility in Łódź, Poland. The Nordic Investment Bank (NIB) issued its first sustainability‑linked real‑estate loan, marking a milestone in green financing. In the UK, OakNorth...
Square, the payments arm of Block Inc., is deepening its partnership with New York‑based Birch Coffee by powering the coffee chain’s 12th location. Birch reported a 16% year‑over‑year revenue increase in 2025, attributing part of that growth to Square’s commerce...
Europe’s digital banking sector has shifted from merely adopting technology to delivering proactive, frictionless experiences. Neobanks such as Revolut, N26 and Monzo set new standards, forcing traditional banks to upgrade their mobile platforms and UX. In 2026, trends like AI‑driven...
Netherlands‑based fintech Adyen unveiled Intelligent Money Movement, a unified platform that combines payment collection, payout processing, and liquidity management for large enterprises. The tool addresses the typical treasury setup of five to six banks, over 40 accounts and roughly a...
Debora Sobel, newly appointed head of European debt at PIMCO Prime, warned that lenders can no longer ignore deteriorating conditions in their loan portfolios. She highlighted the need for active management of existing exposures as market volatility spikes and competition...
French officials are tightening crypto oversight as Bank of France Deputy Governor Denis Beau urged the EU to impose stricter limits on non‑euro stablecoins under the MiCA framework. At the same time, France’s National Assembly approved a provision requiring annual...
