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China UnionPay says it has signed a deal with Portuguese bank Caixa Geral de Depósitos that will enable UnionPay cardholders to withdraw cash in euros from ATMs in Portugal. The deal provides for withdrawals from about 130,000 ATMs in Portugal, UnionPay says in a statement. UnionPay cardholders can withdraw up to 300 euros (US$465) per transaction and 486 euros daily. UnionPay says its cards are accepted in 28 countries outside China.
The payments company posted strong adjusted earnings following a dramatic downsizing, which management attributed to the influence of artificial intelligence.
The Securities and Exchange Commission initially offered $179.5 million to Michael Bacon, who provided key information to the government about Wells Fargo's fake-accounts scandal. But shortly after SEC Commissioner Paul Atkins took office, the amount was sharply reduced.
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.
