The Traverse City-based company will lay off 83 employees, according to a Securities and Exchange Commission filing submitted Wednesday morning.
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FDIC Official: SVB Failed from Mismanagement, Not Loose Regulations
Management failures, not loose regulations, prompted Silicon Valley Bank’s sudden failure last month, a top Federal Deposit Insurance Corporation (FDIC) official said on Wednesday.
Deposit Crisis Sets Up a Tough First Quarter for All but the Biggest Banks
A deposit run that felled Silicon Valley Bank and Signature Bank has hurt small banks much more than big ones, draining low-cost funding that has fueled their profitability in recent years.
Cities Sue Hyundai, Kia After Wave of Car Thefts
A slew of cities have sued Kia Corp. and Hyundai Motor Co., blaming the automakers for the uptick in joyriders stealing cars, causing property damage, and draining police resources.
Corvus and Core Specialty to Deliver Expansion of AI-Powered Excess Tech E&O and Cyber Product
Corvus Insurance announced today the launch of a new program with Core Specialty to support the expansion of the Excess Tech E&O and Cyber product with additional capacity.
Verisk Reimagines Insurance Product Innovation with New Rating Engine
Insurers can transform the complex process of developing new commercial lines products with the power and convenience of a new rating engine from Verisk.
Arch Insurance Buys Insurtech Thimble
Arch Insurance today announced it has acquired Thimble, a leading insurtech platform for small business customers and agents.
Triangle Companies Pay Hackers to Break into Their Networks
In the past 18 months, video game developer Epic Games has paid more than $3 million to hundreds of hackers online.
EPA Seeks to Boost EVs with New Limits on Tailpipe Emissions
The Biden administration is proposing new limits on vehicle tailpipe emissions in order to encourage automakers in the United States to generate two-thirds of their sales through electric vehicles within a decade.
Thieves Target Trucks for Catalytic Converters: Carfax Study
A new study by Carfax data scientists found that 153,000 catalytic converters were stolen across the country in 2022.