Merchant

The Los Angeles-based bank said that it's eliminating roles across its footprint. The job cuts follow a year in which expenses soared and losses piled up.

The proposed implementing rule will squeeze credit for entrepreneurs and small businesses, adding more barriers to their success in an already-tight lending environment.

Sens. Dick Durbin, D-Ill., and Roger Marshall, R-Kansas, have added Sens. Josh Hawley, R-Mo., and Jack Reed, D-R.I., as cosponsors to a bill aimed at increasing credit card competition and lowering consumer fees.

Customers with deferred compensation plans at the bank had personally identifiable information compromised through a third party, Infosys McCamish.

The cybersecurity leaders argued in a recent court briefing that the SEC's lawsuit against the SolarWinds CISO could harm the profession at large.

The Birmingham, Alabama bank cut down its workforce across divisions as higher interest rates put pressure on its business.

Banks can choose to only receive transactions instantly, and it's the most popular choice. Simply preferring to get paid faster isn't the reason.

Experts predict the number of small businesses turning to an employee-ownership model will accelerate in the coming years. The would mean opportunities for banks that advise on such transitions.

The criminal hacking gang LockBit said it was behind a ransomware attack that shut down some of the operations of EquiLend, a financial technology firm that processes trillions of dollars of securities-lending transactions every month.  

The Tennessee-based bank was forced to keep operating on its own after a proposed acquisition was called off. Months later, First Horizon has picked up new customers and improved its profitability, but investors remain cautious amid plans for catch-up spending on technology.