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Alejandro M. Agenjo is a Madrid-born engineer, psychologist, and entrepreneur whose passion is understanding people and improving communities and their systems. He was named one of the top social entrepreneurs in 2019 for his ed-tech startup seeking to detect students' strengths and learning styles to improve learning and future opportunities. Today, he's the proud co-founder and CEO of Erudit, an AI SaaS empowering executives with real-time workforce insights to drive better decisions and to build healthier work communities.

The $1.6 billion-asset company said in a press release Wednesday that its directors "voted to terminate" Kevin Lycklama's employment. Dan Cox, chief credit officer, was named as acting president and CEO.

The Seafarers International Union sued Bank of America's senior managers and board alleging breach of their fiduciary duty in managing a prepaid debit card program that distributed unemployment benefits during the pandemic.

The deal with private equity firm KKR follows an earlier announced sale of $1.3 billion in medical office loans. The Columbus, Georgia-based company has said it's "proactively optimizing the balance sheet" to position itself for long-term growth.

Senate Banking Committee Chair Sherrod Brown, D-Ohio, and other committee Democrats told the Federal Reserve that the agency isn't considering financial stability enough in its review of bank merger applications.

The nearly $81 million plan to buy Community Financial Group in Spokane, Washington, would mark the 13th acquisition in the past decade for Glacier. The Montana-based bank has more than tripled in size during that time.

In global news this week, Microsoft is working with the London Stock Exchange Group on artificial intelligence, Apple's mobile wallet debuts in Vietnam and more.

Bank of New York Mellon, U.S. Bank and others are looking at how the Federal Reserve's instant settlement network could safely speed up routing, payroll and billing.

Erika Duncan is a human capital consultant at UHY Advisors.

The real threat is from undercapitalized banks, and regulators must require large banks to have enough capital to eliminate that threat.