Citigroup was so impressed with a test drive of AI software it invested in its maker; the FBI's warning of a cyberattack targeting ATMs came to pass — expect more to come; debating whether state AGs can serve as de facto CFPBs; and more from this week's most-read stories.
The 100 dismissals in asset management follow job cuts in other divisions; the agency cites the lack of protections against fraud and market manipulation.
Bci Miami is one of the first banks in the U.S. to publicly acknowledge using AI this way, when many still consider the technology to be new, risky and unsanctioned by regulators.
The charge calls into question the speed of the turnaround under CEO Brian Duperreault; the payout will be the Scottish bank’s first since the financial crisis.
