In|Vest 2018 Direct

The BSBY interest rate benchmark was originally envisioned as a successor to the once-ubiquitous Libor rate. But it failed to gain much traction, and Bloomberg now plans to shut it down next year.

Alex Quevedo is president of human resources outsourcing at ADP.

The Champaign, Illinois-based company said it would pay $41.6 million to acquire Merchants and Manufacturers Bank Corp., which has five branches in the Greater Chicago area.

Stress tests suggest systemically important depositories could weather current risks. Meanwhile, single-family arrears remain low, but that business could be impacted.

Cybercrime-as-a-service tools are using generative artificial intelligence in new ways to crack payment card security, according to a report from Arkose Labs.

The move by the company's new CEO is designed to promote greater network effects and benefits for paying members. Bank CEOs say the network helps smaller banks compete.

Purchases by banks, airlines, industrial heavyweights and other businesses fell for the first time last year, according to Bloomberg Green's analysis of data in three public registries covering more than 260,000 transactions since 2010. Yet corporate buyers increased purchases of offsets derived from a particularly controversial source — wind, hydro and solar projects.

Phil Haussler is the chief product officer at Quantum Workplace.

Sumitomo Mitsui Financial Group's Chief Executive Officer Jun Ohta, who pursued an aggressive expansion abroad during his four years at the helm of Japan's second-largest bank, has died. He was 65. 

The Consumer Financial Protection Bureau wants to limit law enforcement access to a tool that has proven vital in many criminal investigations.