In June, Warson became the first person to hold the newly created job of chairman of Citi Private Bank, North America.

The company founded by her grandfather remains committed to actively managing money for longtime clients, but under Johnson, Fidelity Investments is also aggressively going after younger investors who favor simple and affordable options.

The retirement and investment group Grace runs for Aon is the global firm's second-largest business unit, wit more than $150 billion of assets under management.

The new fees based on the DTI, which lenders have said is too likely to vary throughout the origination process for a single loan, will now go into effect in August.

The Consumer Financial Protection Bureau issued a new report on junk fees and CFPB Director Rohit Chopra spoke at a White House virtual meeting encouraging states to tackle the proliferation of junk fees through legislation.

More than 90% of appraisers are white, and researchers have found that bias leads to lower valuations for homeowners of color. A Flagstar executive said the mortgage-focused bank is "not just going to sit on the sidelines and watch this happen."

Countries around the world have lots of incentives to build an alternative to the U.S.-centric global payments system using central bank digital currencies. The U.S. must get in the game or see its economic might begin to wane.

The president-elect's history of deregulatory financial services policies could offer some benefits to minority businesses and consumers, but the more likely outcome is reduced access to capital and higher costs.

With transparency, security and reliability embedded at its core, a blockchain is not merely a way to enhance existing systems — it represents a model for what banking should aspire to be.