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The Nebraska Bankers Association says legislation to prevent the state treasurer from depositing public funds in banks that would use them to fund environmental or social causes is "too vague."

The San Mateo, California-based online consumer lender has now laid off some 500 employees in recent months. The downsizing reflects broader challenges in the tech industry, but it also comes as Upstart struggles to get enough funding for its loans.

Citing challenging economic conditions, PayPal on Tuesday said it's cutting 7% of its global workforce with reductions in upcoming weeks.

Salene Hitchcock-Gear is president of Prudential Individual Life Insurance, a unit of the financial services company that offers consumers a diverse portfolio of life insurance products. She is an insurance industry veteran with more than 30 years of experience.

The Long Island company is closing 69% of the retail home lending offices previously operated by Flagstar Bancorp. New York Community recently acquired Flagstar for $2.6 billion.

In this month's roundup of American Banker's favorite stories: Development of central bank digital currencies gains momentum, ongoing lawsuits against JPMorgan Chase and PNC address the banks' liability and more.

Sens. Elizabeth Warren, D-Mass.,  Roger Marshall,  R-Kan., and John Kennedy, R-La., asked Silvergate if the bank knew about FTX's alleged misuse of customer funds.

The bill would lower the number of required meetings for credit union boards of directors, and passed via a voice vote.

The Virginia Beach-based credit union recently launched Chartway Ventures to invest in fintechs and other organizations.

The Radnor, Pennsylvania-based financial technology company made an unsuccessful bid to buy a bank. Now it is shifting into expense-reduction mode.