PayPal to cut around 2,500 jobs as rivals snag market share
PayPal, which employed around 29,900 workers at the end of 2022, announced a similar round of cuts last January.
New York AG sues Citibank over allegedly lax defenses against fraud
The megabank failed to adequately protect and reimburse customers who were victims of wire-transfer fraud, according to a lawsuit by the New York Attorney General. Citi said that it follows all relevant laws and regulations.
Senate may be (almost) as important for banks as presidency in 2024
Who controls the administrative agenda is the most important outcome of the election for banks. But the road to controlling that agenda runs through the Senate, where the political dynamics are considerably different than at the top of the ticket.
California banks to combine in $234 million ‘merger of equals’
The deal involving Southern California Bancorp and California BanCorp, expected to close in the third quarter, would form a $4.6 billion-asset lender with a footprint spanning San Diego, Greater Los Angeles and the San Francisco Bay Area.
One man’s cynical crusade to follow the crypto money
Zeke Faux, a Bloomberg journalist, describes his two-year odyssey to better understand cryptocurrencies in his book “Number Go Up.” His work proves to be an entertaining deep dive into an industry riddled with scams.
Bank of America dives into data to stay competitive in B2B payments
The institution is investing more in analytics as it faces pressure from rival banks and fintechs using automation to attract cost-conscious treasurers.
Helping bank employees remain ‘coachable’ is a key management skill
Organizations that emphasize not just coaching but the importance of remaining coachable, tend to develop more talented and engaged teams.
AI’s potential to simplify investment banking
Generative artificial intelligence could streamline numerous operations across the financial services landscape, from building investor presentations to processing regulatory and legal documents.
2024 won’t be easy, but it may be easier than 2023, bankers say
Bank leaders have a rosier outlook about economic conditions over the coming year than they did three months ago, according to a new survey of industry executives.
How challenger bank Upgrade grew during a dismal 2023
The neobank doubled its membership to five million consumers and hired 200 people last year. Founder and CEO Renaud Laplanche explains how it fared during a time when many fintechs struggled.