Financial institutions news from around the web: May 20 – 24, 2024

Why cyber risk managers need to fight AI with AI 

Artificial intelligence technology is presenting new risks — and new opportunities — to financial institutions hoping to improve their cyber security and reduce fraud. 

Central banks seek firms for cross-border payment project 

The Bank for International Settlements is seeking private sector participation in a smart-contract project designed by seven central banks to improve cross-border payments. 

Data shows Q1 bounce for CUs from Q4 pit 

Credit union first-quarter earnings rose from the record low of 2024's fourth quarter, while delinquencies fell, net charge-offs rose and originations continued to plummet, according to NCUA data. 

Supreme Court upholds CFPB’s funding structure 

The 7-2 ruling puts an end to a case that threatened the bureau’s existence and pushed at least one district judge to pause a CFPB rule pending the high court’s opinion.