PNC lays off staff; Visa vs. friction in corporate cash flow
American Banker
In-depth analysis, perspective and commentary on key issues affecting the banking industry.
Layoffs at PNC cut across business lines and geography: The job cuts came after CEO William Demchak said in July that he was "taking a hard look" at opportunities to reduce expenses. PNC joins a growing list of banks that have laid off workers amid declining growth prospects.
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How Visa is targeting friction in corporate cash flow: In search of new revenue streams, the card network has researched companies' working-capital and cash-flow headaches to see where it could play a bigger role.
Fiserv, Plaid partner on consumer bank-data sharing: Customers of community banks and credit unions using Fiserv's core banking platform will soon directly control third-party access to their account information among Plaid's network of 8,000 third-party applications and services.
From last week: Navy Federal encounters rough seas after winning military contract. The world's biggest credit union, Navy Federal Credit Union , will become the provider of banking services for U.S. armed forces members abroad, stepping into a void left by 美国银行 . But the Defense Credit Union Council (DCUC) is concerned that a potential deposit insurance snafu could threaten the program's viability.