PayThink 2018 Direct Page

Many depositors have "shifted their funds into higher-interest-bearing accounts, increasing banks' funding costs," S&P wrote in a note summarizing the moves.

The job cuts come amid caution about the industry's growth potential in the second half of the year. Some 45,000 positions have been lost in banking and related industries over the last two-plus years.

The New York megabank is considering splitting its institutional clients group division into three parts following the upcoming departure of top executive Paco Ybarra, the Financial Times reported. The heads of the three segments would report directly to CEO Jane Fraser.

Two-thirds of business executives expect to pursue merger-and-acquisition deals over the next 12 months, according to a new EY survey. That's good news for larger banks with M&A advisory operations.

Shane Hamby is the vice president of products at Stampli, the leader in AI-powered accounts payable automation and payment services.

As consumers' cushion shrinks, they are becoming more dependent on their paychecks to maintain their standard of living. Economists are split on whether wage growth is strong enough to fill the gap.

Goldman Sachs Group is exploring a sale of an investment-advisory business it bought four years ago, undoing another signature deal under CEO David Solomon's ill-fated push to manage money for a broader set of customers.

John Paul Dillon pleaded guilty to nearly $1 million in fraud related to COVID-19 emergency small-business programs, including the Payroll Protection Program and the Economic Injury Disaster Loan Program and a fraudulent loan application for a mortgage.

The longtime payments executive plans to maintain the company's alternative pricing as a way to address the growing criticisms of interchange.