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The National Credit Union Administration has invited feedback from executives after exams, given them a freer hand to partner with cryptocurrency firms and made it easier to start new credit unions, Kyle Hauptman says in touting the agency’s efforts to modernize itself.

Central bankers need to speak up about economic barriers prompted by racism and the need for inclusion and diversity, Federal Reserve Bank of Atlanta President Raphael Bostic said, a response to critics who see the work as a distraction from the Fed’s main goals. 

The largest U.S. banks have made progress in detailing the risks posed by climate change, but it's clear the industry will have to do more. As federal regulators prepare to impose new obligations, banks are pushing back against calls for more aggressive measures such as capital requirements and increased risk weighting for fossil-fuel lending.

PayPal is exploring the launch of its own stablecoin as part of its cryptocurrency push, according to the company, which confirmed the development after evidence of the move was discovered inside its iPhone app.

Both traditional financial institutions and neobanks — including NorthOne, Novo and BMO Harris Bank — are developing technology to meet the needs of younger small-business owners.

Newity was founded to buy and administer Paycheck Protection Program loans. Now that the program has ended, the company is teaming with a bank on a platform that offers Small Business Administration 7(a) loans.

The payout will help the Delaware bank recover legal costs that stemmed from its 2010 purchase of Christiana Bank & Trust. It expects a 23-cent boost to earnings per share in the most recently completed quarter.

The Biden administration is poised to specify which cryptocurrency firms will be forced to report reams of customer data to the Internal Revenue Service, said people familiar with the matter.

Faster payments would help the economy in general and individuals and small businesses in particular. It's time for banks to step up.

Citigroup as the first major Wall Street bank to impose a strict COVID-19 vaccine mandate: Get a shot or face termination. With its deadline fast approaching, the company is preparing for action.