Bank News: Employee reductions, hires, bans, and Banc of CA has problems!

Bank News: BitMEX crypto exchange to close after 11 years. Twin City Bank is rebranded into Increase Bank after receiving regulatory approval on name and business plan changes. PNC targets wealthy clients with new lending option. Rent fintech Flex applies for an ILC banking charter. Banc of California has a large loss of $251MM for the second quarter. The Federal Reserve bans two bankers from future work in the industry. FinCEN chief heads for new role at Citibank. Visa is cutting their workforce by 7%. Chime is cutting their workforce by 10%. This episode examined multiple articles from Banking Dive and CNBC.