Technology

Chief Audit Officer Denise DeMaio will join Truist from MUFG, while Chief Information Security Officer Howard Whyte has experience at Boeing, Goldman Sachs and the FDIC.

The Change Company, a lender to Black, Hispanic and low-income borrowers, was set to merge with the former quarterback’s blank-check company. Steven Sugarman, a onetime Banc of California chief, says his company is now in talks with other investors and inviting banks to use a new digital marketplace for its loans.

Faster payments would help the economy in general and individuals and small businesses in particular. It's time for banks to step up.

The Los Angeles company, set Thursday to complete a merger with a special-purpose acquisition company and raise more than $3 billion in a stock offering, plans to develop new banking and cryptocurrency-related services this year, CEO Jason Wilk says.

Two co-founders of the company are expected to give depositions this month in a suit brought by an entrepreneur who says one of them stole her idea of providing credit to immigrants and turned it into a multimillion-dollar venture. Petal denies the allegations.

The U.S.-based networks are offering credit cards and other products through financial technology companies that otherwise could allow consumers in the region to bypass bank-issued cards.

Morgan Stanley agreed to pay $60 million to settle a class action suit by consumers claiming the firm failed to safeguard their personal information.

Industry leaders in the spotlight this year include Citi's Jane Fraser, TD's Bharat Masrani and several others who are making big moves in cryptocurrency.

During the pandemic, consumers have become more willing to do their food shopping remotely. Companies like LG and Blue Apron are building on that interest through the addition of networked technology, mobile apps or card rewards.

Large banks explored the concept more than five years ago before quietly moving on. The advent of stablecoins and general acceptance of blockchains have helped make it more practical for some regionals.