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In global news this week, Apple may bring its card to the U.K. but faces backlash in the Netherlands; Japan's JCB is launching a travel card in India; banks drop from the European Payments Initiative; and more.

Barclays plans to step up its financing of renewable energy as Russia’s war on Ukraine adds to the urgency of moving away from fossil fuels.

Burke & Herbert, which is based in Alexandria and has been in operation since 1852, has joined a long list of banks planting their flags in Richmond, where the overall deposit market has grown 32% in just five years.

Federal Reserve Chair Jerome Powell outlined four qualities a hypothetical digital currency in the U.S. must have while adding that no final decision has been made on whether to proceed with creating one.

UBS Group will let some of its U.S. employees work remotely full time, offering flexibility to staff as it seeks to lure and retain talent. 

The change in branding reflects a shift in priorities for the retail credit card issuer, which saw several clients face bankruptcy during the pandemic.

The actions involved are based on findings by an interagency task force first convened last year by Marcia Fudge, secretary of the Department of Housing and Urban Development.

The Federal Reserve's unanimous approval is a win for the Rhode Island company, though it will have have to take part in an additional round of stress tests in 2023.

A $1.9 billion lawsuit against Bank of Montreal — which is accused of lying to a judge after a predecessor bank destroyed documents — may go to trial late this year. The legal imbroglio is coming to a head as regulators examine the Canadian banking giant’s proposed acquisition of Bank of the West.

Nellie Liang, the Treasury Department's under secretary for domestic finance, said there’s consensus on the risks posed by digital assets. But she was vague about how much progress has been made in discussions between the administration and lawmakers about toughening the regulatory system.