The U.S. Treasury Department is shutting down a program that shared cybersecurity threat intelligence with banks and other financial firms after cutting its funding, Bloomberg reported.

Financial institutions were told in late March that the service, known as the Automated Threat Information Feed, would stop updating and that user login credentials would stop working on April 24, according to a notice reviewed by the news agency.  

The program was launched in 2024 under Treasury’s “Project Fortress” initiative and was designed to let banks share cyber threat information among themselves while also receiving government intelligence that could bolster their defenses, Bloomberg said. It was intended to give the banking sector a type of cyber information exchange similar to those used across government agencies to flag threats.

The program’s demise comes only weeks after Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell called Wall Street executives to Washington to stress that Anthropic’s latest artificial-intelligence model, Mythos, could usher in a period of heightened cyber risk, according to the report. 

In an interview on CNBC on Wednesday morning, Bessent downplayed the urgency of that meeting with bank leaders, saying it had been “a bit overdramatized” and that the executives had already been in Washington for another event.

The threat-sharing system struggled to gain traction in the financial industry, where some participants viewed it as duplicative of other intelligence products already available. The service had only a few hundred subscribers and was used mainly by small and midsized banks that lacked the larger security operations of major institutions, according to people familiar with the matter cited by Bloomberg.

Even as Treasury winds down the program for traditional financial institutions, Bloomberg reported that the department is starting a similar information-sharing initiative for digital-asset firms.

Read more at Bloomberg