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Small merchants will be able to send customers directly to online stores from videos, advertisements or shopping sites using a new product created by the two companies.

Many banks are still making loans tied to the scandal-plagued benchmark despite years of preparation for its demise. The end of 2021 could prove hectic as bankers scramble to implement changes and explain them to commercial borrowers.

Failures and forced consolidation among smaller institutions could accelerate in 2022 and 2023 once the federal stimulus programs that have propped up the economy run their course, experts predict.

With Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell testifying, GOP senators expressed opposition to a proposal that would require financial institutions to report account data to the IRS. Lawmakers also weighed in on Powell’s job security.

The tech giants have been working with an industry group, the EDM Council, to craft a set of data governance best practices that companies can apply internally. An assessment and certification program will ensure that vendors abide by the same principles.

Mary Hines Droesch will oversee the strategy, design and management of lending and deposit products for retail and small-business customers of the bank.

Brent McIntosh is joining Citigroup as it overhauls its internal systems to modernize the bank and satisfy two regulatory consent orders.

The moves are part of a $30 billion pledge to advance racial equity that the megabank made following George Floyd's murder last year.

Using data aggregation subsidiary Finicity, the card network will allow its bank and credit union partners to offer installment loans directly to consumers, who can repay from checking and savings accounts.

The proposal calls for a 20-year mortgage with Ginnie Mae and Treasury participation, but critics suggest that other measures would be more effective in bridging the gap in home equity.