A report from the Federal Deposit Insurance Corp. found that business clients with large volumes of uninsured deposits fled Silicon Valley Bank, Signature Bank and First Republic at unprecedented speed, contributing to those banks' collapse.
First Interstate Bank and Boulder Dam Credit Union have begun piloting the new agents, which were built using AWS' Bedrock.
The 22nd State Bank in Mobile has been developing its national Always.bank subsidiary over the past year. 22nd State, which was founded in 1917, is eyeing a summertime launch for the online unit.
The Senate voted 54-45 to confirm Kevin Warsh to lead the central bank. Warsh will take the reins from Jerome Powell, who said he will remain on the Federal Reserve Board.
The payment company will waive transaction fees totaling about $30 million for veteran-owned, farming, manufacturing or technology-based small businesses following an investigation into a 6-year-old former investment program designed for Black and minority-owned small businesses.
