AUSTIN, Texas – Velocity CU has filed suit in state court claiming a $10 million retirement plan it established for top executives will not pay out as promised. In an action filed in Travis County District Court, the credit union claims that Standard Insurance Co. and Benefits Unlimited Co. mishandled the retirement plan. Houston-based Benefits Unlimited brokered the policy for Standard Insurance, which is based on Portland, Ore.
The Minneapolis-based bank will issue the cards, and Mastercard will act as the network provider. American Express formerly ran the e-commerce giant's business credit card programs.
A TD Bank survey found a massive increase in the ranks of people who talk to ChatGPT about their finances. Ted Paris, the bank's head of AI, says banks still have an opportunity here.
Employees at two of the 28 Wells branches where workers previously voted to unionize are now shedding union representation.
Alessandro DiNello, who served as Flagstar's executive chairman in 2024, said he's leaving in order to enjoy his retirement. Meanwhile, a lawsuit accusing him of various wrongdoings is still pending.
Cybersecurity experts at RSAC urged banks to treat the transition to post-quantum cryptography as an enterprise risk, not just an IT headache.
The Minneapolis-based regional bank is extending home-improvement loan durations by as much as two years in a bid to continue capitalizing on a long-running remodeling boom.
