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Users of large language models and generative artificial intelligence need to be aware of the content and data those models are trained on, and be wary of potential infringement of copyright law.

Federal Reserve officials point to overnight reverse repurchase agreement activity as an indication of excess liquidity, which the central bank is working to reduce. But some analysts say that excess liquidity may be drying up faster than expected, with important implications for banks.

In the wake of the disgraced financier's downfall, executives at JPMorgan Chase, Barclays and Deutsche Bank have continued to draw the ire of federal regulators and weather millions of dollars in fines and settlement costs.

But this week the 30-year fixed rate mortgage average increased for the first time in two months.

The governor's proposed license for buy now/pay later lending adds momentum to the efforts to rein in the fast-growing and unregulated product.

Scott Shapiro is the KPMG US Sector Leader for Insurance leading the firm's client experience and resources for the insurance practice. Shapiro joined KPMG in 2012 and has extensive experience in both industry and consulting, spanning over 30 years.

Brian Spinelli is co-chief investment officer of Halbert Hargrove, a $2.7 billion fiduciary investment management and wealth advisory firm serving clients across the West Coast and beyond.

Based in Long Beach, California, Spinelli has been with Hargrove, founded in 1933, since 2006.

Banks have a simple choice: Either invest in fraud controls to prepare for FedNow, or expect draconian supervisory measures that will increase friction and confuse customers.