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BROOKFIELD, Wis.—Payments and financial technology giant Fiserv announced a leadership change Monday as CEO Mike Lyons departed to become president and chief executive officer of Truist Financial, prompting Fiserv to immediately appoint Takis Georgakopoulos as its new CEO and a member of its board of directors, PYMNTS reported.

WASHINGTON—The Senate Armed Services Committee's version of the FY2027 National Defense Authorization Act contains none of the institutional priorities sought by defense credit unions, but the legislation could still deliver meaningful financial benefits to military families through a proposed 3.6% pay raise, expanded healthcare access, housing assistance and spouse-employment support, according to an analysis provided by Defense Credit Union Council Chief Advocacy Officer Jason Stverak.

WASHINGTON—Rep. Bill Foster (D-IL) is warning federal banking regulators that the rapid emergence of agentic artificial intelligence could dramatically accelerate future bank runs, turning crises that once unfolded over hours into events measured in seconds, according to comments reported by Banking Dive.

WASHINGTON—The U.S. Government Accountability Office is urging the Federal Deposit Insurance Corp. to address two longstanding supervisory concerns: requiring greater rotation of bank examiners and strengthening coordination with other regulators on blockchain and cryptocurrency risks.

CHARLOTTE, N.C.— Bank of America CEO Brian Moynihan said the biggest obstacle to successfully deploying artificial intelligence at scale is ensuring the underlying data is accurate, telling American Banker that "the data has to be perfect" for AI systems to deliver reliable results.

CHICAGO—Klarna is seeking to force into arbitration a proposed class action alleging its buy now, pay later service targets financially vulnerable consumers while failing to screen out unaffordable lending, according to Law360.