Investment

Bank of America was an anchor investor for a new $100 million fund managed by Mendoza Ventures, which backs companies with founders from minority and other diverse backgrounds in the financial technology, artificial intelligence and cybersecurity industries.

Nadine Chakar will take the helm at Securrency from current CEO Dan Doney, who will become chief technology officer.

JPMorgan Chase Bank NA will have to face a lawsuit by a unit of the French maker of Ray-Ban glasses that claims the bank ignored suspicious transactions as cybercriminals drained $272 million from its New York bank account.

The rate of venture funding to startups run by women continues to decline.

Phishing and ransomware attacks were among the deadliest for financial institutions in the past year.

Hacks of banks, credit unions and insurance companies compromised the data of millions of consumers, who filed a flurry of class actions in response.

The National Credit Union Administration can no longer examine third-party vendors and service providers. That leaves the industry vulnerable to cybercriminals and other bad actors.

Mitsubishi UFJ Financial Group is in talks to invest about $200 million in Akulaku, an Indonesian online lender backed by Jack Ma's Ant Group, according to people familiar with the matter.

Harris, who leads the New York State Department of Financial Services, will join the Financial Stability Oversight Council next year. She will replace Charles Cooper of Texas as the representative of state bank supervisors.

WaFd Bank is using conversational artificial intelligence to make the contact center and online chat experience smoother for both customers and agents.