Merchant

Ransomware gang Cl0p is currently threatening 50 companies with releasing data it stole from them late last month.

Discover Bank launches financial health fund, Cross River Bank climbs past real-time payment transaction benchmark, Webster funds financial education at youth-focused nonprofits and and more in this week's banking news roundup.

Lake Trust Credit Union in Brighton, Michigan, works with a development agency in Lansing to provide entrepreneurs with the financial and educational support they need to go it alone.

Banks that haven't built a plan to implement the Federal Reserve's new real-time payments system still have time to make up lost ground.

CEO Bill Rogers says the North Carolina bank is contemplating additional business segment changes to improve its efficiency. Investors have been pushing the company to cut costs at a faster clip.

The success of central bank digital currencies will be directly tied to their usability — by both individuals and businesses.

Experts say banks should start stepping up their encryption now, because hackers can steal it now and decrypt it with quantum computing later.

The Consumer Financial Protection Bureau alerted staff this week that text messages had been sent to employee personal phone numbers claiming to be from Director Rohit Chopra.

The attack on AvidXchange, which the company said it learned about in early April, exposed its bank account numbers and some embarrassing security practices. It's part of a growing trend of data exfiltration attacks.

In the wake of spiking interest rates and surging deposit costs, bankers are looking for ways to scale back their overall expense bases to protect their bottom lines.