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

Written on May 21, 2024

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

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. 

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. 

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. 

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