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Russian banks are reportedly courting the Chinese payment network to overcome the loss of Visa and Mastercard. The strategy would test China's willingness to provoke a response from the international community.

The City Council recently voted 15-1 to establish a financial authority that would provide credit enhancements on loans to underserved borrowers. Public banking advocates say the effort is both an interim step for Philadelphia and a test case for other cities.

Sanctions imposed over the Ukraine war prompted the French bank to tell commercial clients it won't process their Russian transactions after March.

A new Securities and Exchange Commission proposal would require public companies to report climate-related risks across their value chain. That could be especially difficult if it means banks have to account for their borrowers' emissions.

Banking executives and analysts worry that the Federal Reserve's aggressive plan to raise interest rates will be insufficient to tame inflation and overcome economic fallout from the war in Ukraine.

Federal Reserve Chair Jerome Powell said the central bank will take the “necessary steps” to get inflation down even if that means increasing interest rates more rapidly than currently anticipated and eventually to levels that slow the broader economy.

JPMorgan Chase and HSBC are among the banks that have set up shop in virtual worlds or plan to.

Ramp, a startup that offers corporate cards and other finance tools to businesses, raised $750 million in a funding round that valued the fintech at $8.1 billion.

A growing chorus of voices seems to share the view of former New York banking regulator Maria Vullo, who once said, “Toddlers play in sandboxes. Adults play by the rules.” But any movement away from the collaborative development of regulations for new financial services products would be a setback for consumer choice.

The children's research hospital is tapping into the fast-growing market for digital currency donations and NFT sales to appeal to millennials, who are more likely to have crypto investments.