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U.S. Treasury Secretary Scott Bessent and Fed Chair Jerome Powell held a high-level meeting with major bank CEOs to discuss escalating cyber threats. The discussion focused specifically on risks emerging from advanced AI models, notably Anthropic's Mythos model. This government initiative aims to establish cybersecurity best practices to fortify the financial sector's defenses. Officials also sought to address the varying levels of digital preparedness observed across different banking institutions. This coordination is expected to drive increased IT and compliance spending for major lenders such as JPM and BAC. The meeting reflects growing concerns among policymakers regarding the ability of AI to generate sophisticated threats that could bypass traditional security frameworks.
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