Carter Pape

Key insight: Banks built their fraud and identity defenses for humans, not for AI agents transacting with a customer's own credentials, the panelists warned.

Major banking trade groups are lobbying the U.S. Securities and Exchange Commission to eliminate a 2023 rule that requires public companies to disclose major cybersecurity incidents within four business days, arguing it can help attackers and harm security. At the same time, the same groups are pushing Congress to preserve a separate law that allows companies to share cyber threat information privately with government agencies, which they say strengthens collective defenses. The industry groups argue that confidential reporting is sufficient for regulators and safer than public disclosure, especially as AI could amplify risks by helping attackers analyze filings.

Key insight : The guidance makes explicit that fraud qualifies for the 314(b) safe harbor, and that a bank need not first identify laundered fraud proceeds to be covered.

Key insight: Goldman Sachs led a $110 million Series C in Taktile, betting AI is ready to make banks' and insurers' high-stakes, regulated decisions.

Key insight: The Museum of American Finance is giving its Boston home free admission, underwritten by sponsors, as a bet that removing the price makes financial education stick.

Key insight : Currency security is banking's oldest technology problem, and today's $100 bill still carries features that descend from the anti-counterfeiting Benjamin Franklin engineered into colonial notes by hand.

Two executive orders pulled federal deadlines for quantum-proof encryption forward to 2030, after 2026 research cut the cost of breaking today's codes.

Key insight : Beyond faster patching, the letter tells banks to shrink their internet-facing attack surface, replace end-of-life technology and elevate cyber decisions to the board.

Key insight: Standard Chartered and BNY now let institutional clients mint and redeem Circle's USDC through the bank instead of a direct Circle account.

U.S. Bank, Arvest, Old National, BMO and WaFd took the losses in a decade-long scheme the DOJ announced.