PremierWest Bancorp in Medford, Ore., is extending its public stock offering by two days to April 2. The $1.56 billion-asset company started the offering last Monday to raise $17.3 million. So far, PremierWest has raised $7.6 million. The public raise follows a rights offering earlier this month that garnered PremierWest $18.7 million. In total, it is hoping to raise $36 million of capital for the PremierWest Bank unit.
The fintech joins a handful of fintechs and payments companies that have laid off staff this year. Robinhood CEO Vlad Tenev said the decision was proactive to keep the organization lean.
Two industry leaders at American Banker's Digital Banking conference said banks' fraud and identity controls weren't built for software acting as the customer.
Zelle, Western Union, SoFi and others are all launching stablecoins, adding to the thousands of other digital assets that do essentially the same thing as bitcoin.
Banking and fintech trade groups have filed suit against the State of Oregon over a new lending law that they say unlawfully restricts interest-rate exportation by out-of-state state banks and threatens access to credit.
The Atlanta bank was ordered to pay nearly $80 million to the former head of its equipment-finance subsidiary Balboa Capital
BofA is using an old-school method to battle the world's newest scams: in-person seminars, taught at brick-and-mortar branches.
