The efforts, which respond to President Biden's October executive order on AI, aim to improve synthetic content detection and improve the trustworthiness of AI models.

Tighter merchant connections between Square and Cash App helped Block produce stronger-than-expected results during the first quarter, while Jack Dorsey said the firm will launch its first remittance product later this year leveraging decentralized finance.

In talks with OCC officials, "it became obvious that we would not gain near-term approval given their recent experience with multifamily and CRE positions," FirstSun CEO Neal Arnold says. The companies announced other revisions to their deal, too.

The Federal Reserve has proposed that the two payments services run seven days a week, meaning they'd no longer close on weekends or holidays. The public has 60 days to comment.

In this week's edition of the American Banker news quiz, test your knowledge on Colorado banking legislation, the failure of Republic First Bancorp, acquisitions and more.

Banks maintain lists of consulting firms that they trust to help troubled commercial borrowers to fix their businesses. These specialists say they're getting more calls, especially in areas such as multifamily and CRE, from business owners who need help.