Block plans another round of layoffs
Jack Dorsey’s payments company also laid off employees early in 2025 and 2024 following a self-imposed employee cap of 12,000 in November 2023.
KeyCorp, Eastern get relief as activist investor backs down
The activist investor HoldCo Asset Management said Monday that it doesn’t plan to pursue proxy battles this spring at either Key or Eastern. It had been agitating publicly over the banks’ M&A strategies.
MBA, lenders rally behind Housing for 21st Century Act
The Housing for the 21st Century Act includes provisions covering policy, manufactured homes and rural infrastructure introduced in a prior Senate proposal.
Credit unions blast new Washington state tax on bank deals
To address a budget deficit, the state of Washington has begun taxing credit unions that buy banks. Critics say there’s just one problem: The tax will deter any such acquisitions from happening.
10 kinds of bank CFOs who will never get the CEO job
Being a good CFO does not always translate into being a good CEO. Ken Thomas identifies ten different kinds of CFOs who just aren’t chief executive officer material.
Why small banks, credit unions are buying onboarding tech
Kohler Credit Union, Think Bank and Communication Federal Credit Union gave their onboarding and direct deposit tech an upgrade through fintech partnerships.
COVID loan program leaves some borrowers in a bind
Some distressed companies that tapped the Federal Reserve’s Main Street Lending Program say they’ve been crushed by the agency’s hardline stance on modifications.
Betterment data breach exposes 1.4 million customers
Threat group ShinyHunters claimed responsibility for the attack, which reportedly targeted third-party platforms rather than Betterment’s own systems.
Banks gain amid software stock rout, despite credit questions
Artificial intelligence developments are stoking investor fears about software companies. Banks’ limited exposure to the sector and general stability is proving attractive to investors.
Prosperity completes 2nd of 3 Texas M&A deals
Prosperity Bancshares finalizes the second of three acquisitions it’s announced since July; Sumitomo Mitsui Banking Corporation appoints a new chief information security officer for its American operations; Huntington Bancshares, Third Coast Bancshares and Heritage Financial completed acquisitions; and more in this week’s banking news roundup.