A group of 132 members of Congress favor challenging the funding structure of the Consumer Financial Protection Bureau (CFPB). The group filed an amicus curiae brief to the Supreme Court in support of upholding a lower court’s decision that the CFPB’s funding structure is unconstitutional, and that the...
Amazon Prime Day is now underway, and the eCommerce giant is determined to engage Prime members and stimulate spending. With lofty aspirations, Amazon aims to exceed its 2022 Prime Day of selling over 300 million items worldwide. Although the strategy of enticing customers during an...
Sapphire Ventures has committed an investment of more than $1 billion to cultivate the next generation of artificial intelligence (AI)-powered enterprise technology. This investment marks a deepening of Sapphire’s dedication to AI technology and building on the success of their past investments in and scaling of...
The Securities and Exchange Commission (SEC) has announced charges against investment firm Merrill Lynch, Pierce, Fenner & Smith and its parent company BAC North America Holding Co. The charges, stemming from 2009 to 2019, are due to hundreds of Suspicious Activity Reports (SARs) not being filed, the SEC said...
The Federal Trade Commission (FTC) is warning consumers to be wary of scammers pretending to be staff members. The FTC issued a press release and blog post on Tuesday (July 11) to alert consumers. The blog post said that scammers have been using the names of real FTC employees to gain...
American Express Global Business Travel has begun eliminating its umbrella partnership-C corporate (UP-C) structure. With the series of transactions it has undertaken to do so, all of the company’s stockholders now hold the same class of common stock: Class A common stock, the B2B travel platform...
After seven years of no increase in list prices, Salesforce will be increasing the average list price globally by 9% in August. Salesforce is raising the cost of Sales Cloud, Service Cloud, Marketing Cloud, Industry and Tableau, the company said in a Tuesday (July 11) press release. “Salesforce’s last...
Generative artificial intelligence (AI) as we know it began in earnest in 2017. That’s when a paper from Google’s DeepMind group titled “Attention Is All You Need” introduced the foundational architecture of transformer neural networks and socialized the revolutionary concept of multi-head attention, effectively slingshotting the capabilities of AI models...
The Consumer Financial Protection Bureau (CFPB) has ordered Bank of America to pay more than $250 million in penalties and restitution to customers. The move comes in response to the bank’s “systematically double-dipping” on fees imposed on customers with insufficient funds, failure to pay reward bonuses explicitly promised to credit card...
