C News & Events

U.S. banking regulators are increasing scrutiny on how lenders deploy AI as technology expands through the industry, Nupur Anand of Reuters reports, citing people familiar with the situation. Regulators are stepping in as AI begins exposing the sector to cybersecurity and fraud risk. For the moment, their approach is to closely watch, with the aim of understanding how banks deploy the technology. Publicly traded companies in the banking space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).

Citigroup is creating a way for clients to trade shares of private companies through a blockchain, Gina Heeb of The Wall Street Journal reports. The company is working with some of the largest private companies and is intended to broaden access to private firms as companies begin taking longer to go public.