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Founder Jason Gardner plans to drop CEO duties for a new role at the payment technology firm, which is expanding its focus to larger financial institutions as some existing clients slump.

Marianne Lake, the company's co-chief executive officer of consumer and community banking, will serve a one-year term on the Federal Reserve Board's Federal Advisory Council. She represents the New York Fed.

Harry Madonna, the Philadelphia bank's founder, has taken back the reins after its most recent CEO, Vernon Hill, said he was forced to resign.

The rating agency has revised the long-term issuer default rating for PacWest Bancorp and its banking subsidiary, Pacific Western Bank, from "BBB" to "BBB-" and says it doesn't expect the bank's common equity Tier 1 ratio to bounce back anytime soon.

The remittance provider claims the Consumer Financial Protection Bureau worked to ensure it could file the case in a venue that would be more receptive to its claims.

FleetCor Technologies' CEO successfully pitched small businesses on "a better way to pay" for gas, making himself a billionaire in the process. But that success was built in part on falsely advertised rebates, concealed transactions fees and a host of other unfair practices, a federal judge ruled.

The two major tech firms were targeted in an intricate phishing scheme last week. One fended off the attack; the other was not so fortunate.

On a combined basis, the GSEs performed better under this year's scenario than they did in 2021, but the Federal Housing Finance Agency said changes were still needed.

The Consumer Financial Protection Bureau said a company doesn't need to experience a data breach for the agency to consider taking action.

Jifiti is among the technology companies that want make it easier for retailers and banks to offer installment lending. The disruption caused by inflation and a hawkish Fed are combining to create an opportunity.