Author: Brian Lund
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Nano Banc’s failure will cost the FDIC’s insurance fund about $114 million, while depositors move to Sunwest Bank
The Federal Deposit Insurance Corporation expects Nano Banc’s collapse to cost its insurance fund about $114 million, even as the failed California bank’s depositors move over to Sunwest Bank without losing access to their money. The estimate comes from the FDIC itself, reported by the American Bankers Association’s Banking Journal, and reflects the gap between…
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Regulators closed California’s Nano Banc, and Sunwest Bank took over its customers’ deposits
California regulators closed Nano Banc on September 25, 2026, and the Federal Deposit Insurance Corporation turned to Sunwest Bank to take over the failed lender’s accounts. The Irvine-based bank’s roughly $686 million in deposits move to Sunwest Bank, based in Sandy, Utah, without depositors needing to open new accounts to keep insured balances protected. For…
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Whole Foods workers get free Prime and health plans starting at $5 a week
Starting Sept. 28, Whole Foods Market is raising its average store wage past $21 an hour and layering on two benefits with price tags of their own: a free Amazon Prime membership worth $139 a year for every hourly team member, and a company health plan priced from $5 a week for eligible full-time workers…
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Spirit Halloween is hiring 52,000 seasonal workers across 1,575 stores
Spirit Halloween plans to hire 52,000 seasonal associates to staff 1,575 stores this year, according to the holiday hiring outlook Challenger, Gray & Christmas published Sept. 23. The costume chain leases empty storefronts each fall and closes most of them within days of Halloween, making it one of the largest single seasonal employers named in…
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Retailers will add about 450,000 holiday jobs this year, below last season’s 461,500, which was the fewest since 2008, Challenger forecasts
Retailers plan to add about 450,000 seasonal jobs this holiday season, according to the outlook Challenger, Gray & Christmas released Sept. 23. That would fall below last year’s total of 461,500 seasonal hires, a number Challenger had already flagged as the smallest holiday hiring season since 2008. If the 450,000 forecast holds, retailers will have…
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Paychecks lost ground to prices as real hourly earnings fell 0.3% over the year
Average hourly pay is still climbing in dollar terms, but not as fast as prices are. The Bureau of Labor Statistics reported on Sept. 11 that real average hourly earnings, pay adjusted for inflation, fell 0.3% over the twelve months ending in August 2026. The dip means a typical hour of work bought slightly less…
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Civilian federal workers would see no 2027 raise under Trump’s pay plan, while active-duty troops would get 5% to 7%
Civilian federal employees would not get a base or locality pay increase in 2027 under an alternative pay plan sent to Congress in late August. The same letter proposes raises of 5% to 7% for active-duty troops depending on experience, 3.6% for other uniformed service members and 3.8% for federal law enforcement officers. Nothing here…
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Amazon’s front-line workers get 20% off at Whole Foods stores and fee-free bank accounts with up to $300 a year in ATM refunds
Amazon is giving its core-operations employees a 20% discount on purchases made inside Whole Foods Market stores, on top of a 10% discount on Whole Foods grocery orders placed online, starting Oct. 1. The same Sept. 16 announcement adds a banking benefit with $0 overdraft fees and $0 monthly maintenance fees, plus up to $300…
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Federal student loan borrowers who enroll in autopay by September 30 get a 1 percentage point rate cut through June 30, 2028
Federal student loan borrowers have until the end of this month to lock in a temporarily larger interest-rate discount just for paying automatically. The Education Department is offering a 1 percentage point rate reduction to borrowers enrolled in autopay, more than four times the discount that normally applies, but only to those who sign up…
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Logistics company Exel will pay $80,000 to settle an EEOC disability lawsuit
Logistics company Exel Inc., which operates as DHL Supply Chain in the United States, has agreed to pay $80,000 to settle a federal lawsuit accusing it of denying a disability accommodation to a temporary employee and then excluding her from permanent hiring. The Equal Employment Opportunity Commission announced the settlement this week following a case…