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The Los Angeles bank, which disclosed the layoffs in a securities filing, is undergoing a broader restructuring under its new CEO. The bank expects $30 million to $40 million of savings per year from the job cuts.
February 21
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The Canadian-owned bank is retiring its Hubert the Lion mascot, which Harris Bank originated more than a century ago. Other furry representatives have also faded out as the banking industry has become more nationalized.
February 21
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Polygon Labs, the operator of an eponymous protocol used by developers to make Ethereum transactions quicker and cheaper, has cut 20% of its workforce, or around 100 employees, as part of a consolidation of business units.
February 21
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As some banks build their own systems to custody crypto, others have invested in startups.
February 21
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The high court's inevitable decision on the constitutionality of the Consumer Financial Protection Bureau's funding structure will tell us a lot about how radical the court is willing to be.
February 21
American Banker -
A bill introduced by Sen. Dave Min would prohibit banks that invest in gunmaking from working on any aspect of state public finances, including bond sales.
February 21
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JPMorgan Chase, Morgan Stanley and Bank of America threatened to leave climate group NZBA late last year if limits on their fossil-fuel activities were imposed, concerned that they would be legally bound, according to people familiar with the process.
February 21
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The National Credit Union Administration proposed a rule that would, among other changes, allow remote workers to join credit unions in their employer's market.
February 21
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The Consumer Financial Protection Bureau has asked the high court to overrule a lower-court decision that threatens its funding structure. The justices didn't accept the case on Tuesday, but experts say it could still make the cut in the coming week.
February 21
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A new credit union service organization uses Prizeout's technology to incentivize members to buy gift cards from local stores.
February 21
