The Dallas-based bank, whose shares have slumped 19% this year, laid off the staff last week, according to a spokesperson.

Headcount at the nation's second-largest bank has fallen by around 1,000 since the end of last month. More job reductions are in the works after noninterest expenses rose by 6% during the first quarter.

William Demchak of PNC, Brian Moynihan of Bank of America and William Rogers of Truist had their total compensation reduced last year, as stock prices across the industry fell. The previous year, pay for bank chief executives had soared by more than 20%.

Startups were left reeling after SVB's failure. But there are challenges to serving young companies.

"Our leaders ... have to be visible on the floor, they must meet with clients, they need to teach and advise, and they should always be accessible for immediate feedback and impromptu meetings," the company's operating committee said in a memo to employees.

Minority depository institutions are well-placed to direct money from the Greenhouse Gas Reduction Fund to high-impact projects in underserved communities.

The layoffs come as the fintech is still working to close the SPAC merger it announced in August 2021.

M&T Bank joins a Massachusetts fintech-focused hub; Republic Bancorp in Louisville, Kentucky, once again expands in the Cincinnati market; ChatGPT suffers a security lapse and more in this week's banking news roundup.

Oregon Community Credit Union is piloting a new schedule to address rising absenteeism and concerns about stress among its call center staff.

Diversity, equity and inclusion has only grown in importance to the financial services industry over the last few years. For that reason, DEI philosophies are becoming a bigger concern as buyers and sellers try to determine how their corporate cultures might mesh.