An elderly man lost $1.7 million to a fraud scheme, prompting his family to question why the banks did not intervene to prevent the theft. The incident raises concerns about the protections in place for vulnerable individuals against financial exploitation. The family's frustration highlights the need for better safeguards within financial institutions.

The article discusses the increasing private credit loan exposure of US banks, which is approaching $300 billion. This trend highlights the growing significance of private credit in the banking sector.