Technology

Wells Fargo tapped the head of its wholesale services unit to lead a new research and development division.

RSAC 2026

A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.

MOYNIHAN- BRIAN-BOFA-SOLOMOND-DAVID-GOLDMAN-SACHS

At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.

fdic-bl.jpg

Federal Deposit Insurance Corp. acting Chair Travis Hill released a trove of internal supervisory correspondence from the agency to banks regarding proposed cryptocurrency business lines or relationships, initiatives Hill said were "universally met with resistance" by the agency.

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Visa headquarters

The payments company is opening its real-time payments network, Visa Direct, to stablecoins through a prefunding pilot that will allow businesses to move money across borders when banks are closed.

Laid-off workers

Two large companies' announcements that they're laying off thousands of people they've deemed not AI-savvy have drawn mostly negative reactions.