A prominent New Jersey lawyer has been sentenced to one year and one day in prison on his conviction for making false statements in a bank loan application and failing to pay over payroll taxes withheld from employees, according to federal prosecutors. So reports InsiderNJ.

Banks with bigger information technology budgets fared better during the global financial crisis, according to a new working paper from the International Monetary Fund. So reports Quartz.

Former Wells Fargo CEO John Stumpf will have to pay a $17.5 million fine for running the bank while it opened millions of fake accounts. So reports USA Today.