ROCHESTER, N.Y. – ESL FCU said it has introduced a new type of savings account, called the Premier Money Maker, with a sliding scale for rates of returns giving bigger depositors bigger interest rates.
A member with $75,000 in a Premier Money Maker will see an annual percentage yield of 4.25%, while someone with more than $250,000 will earn 4.65%.
ESL has $3 billion in assets and 240,000 members in the Rochester region.
Bankers and tech executives at SAS's annual conference said agentic AI is still in the "terrible twos" stage and requires human supervision.
Employers hired an additional 115,000 workers in April, while unemployment remained unchanged at 4.3%. Despite the positive headline figure, a spike in newly unemployed workers and a rising number of underemployed workers suggests instability under the surface.
Almost 60 SBA loans originated by Community Bank & Trust — West Georgia were classified as noncurrent, according to Small Business Administration records. Last week, Community became the second U.S. bank to fail in 2026.
Federal Reserve Gov. Lisa Cook said Friday that she believes tokenization could improve efficiency across the financial system, including faster settlement times and more effective recordkeeping. But those advantages will take place within traditional finance rather than supplanting it, she said.
The Treasury Department held a high-stakes huddle with state insurance officials to discuss risks associated with the rapid growth of private credit in the economy and whether those investments could pose systemic vulnerabilities.
The lenders' examples of using generative artificial intelligence were more practical than transformational, but in any case data challenges represent a common problem.
