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Northern Lights Acquisition, a special-purpose acquisition company, is paying $185 million in cash and stock to purchase Safe Harbor from Partner Colorado Credit Union, which launched the lending unit last year.

Bank of America has led a $20 million funding round into U.K. startup Banked, a tie-up that will give customers of e-commerce companies in the U.K. the option to make card-free purchases.

The program is aligned with an initiative Bank of Montreal started in 2019 to double its support for small businesses and female entrepreneurs.

Mobile payments got an early start in parts of Africa more than a decade ago, but the continent's overall banking infrastructure lags far behind, creating a void for companies like AZA and WorldRemit to fill.

Sarah Bloom Raskin, President Biden’s pick to be the Federal Reserve Board’s vice chair for supervision, has had a distinguished career as a state and federal banking regulator. Her belief that banks should identify assets that are subject to climate-related shocks sounds like basic risk management, not a radical call to action.

The Goldman Sachs Partner Family Office, led by Lisa Opoku, will offer Goldman executives and alums the same suite of wealth management services provided to clients.

A federal judge last week upheld "valid when made" rules that support such arrangements. But analysts say an appeals fight is likely, and new leadership at the OCC and FDIC could change the agencies' view of interest rate exportation across state lines.

“Ancillary parties who cannot get access to information that is useful to the IRS are not intended to be captured by the reporting requirements for brokers,” Treasury Department Assistant Secretary for Legislative Affairs Jonathan Davidson told lawmakers.

Dennis Gingold, co-founder of the Reserve Trust company, says Republican allegations that central bank nominee Sarah Bloom Raskin behaved unethically in interacting with the Federal Reserve Bank of Kansas City while serving on the company's board are “completely false.”

People moves, Peter Thiel, AI for bullion sales, fraud sentencing and more in banking news this week.