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A slew of websites operated by financial institutions, governments and airlines including Hong Kong Exchanges & Clearing and Australia’s central bank went down briefly Thursday in the second global internet outage in two weeks.

The move is part of an effort by the largest U.S.-based bank to bring more of its digital banking services to other countries.

The New Jersey bank has been informally funding startups for more than a year. Now it has established Cross River Digital Ventures, which will focus on backing fintechs the bank wants to work with or ones that it feels will benefit the broader industry.

The Biden administration wants financial institutions to tell the government more about their customers to help the IRS thwart wealthy tax evaders. But critics say the plan could threaten account data security and the privacy of even low-income consumers.

Federal Reserve Chairman Jerome Powell said the market dislocations of the past year resulting from the pandemic had changed the impact that the supplementary leverage ratio was having on the largest banks. After temporarily easing the requirement, the central bank is considering longer-term reforms.

The Brunswick, Georgia, credit union has hired Mary Jenrette, who was most recently senior vice president of private wealth management at the bank.

In a reversal of a Trump-era decision, the Consumer Financial Protection Bureau says it has the legal authority to test lenders for potential violations of a law protecting military borrowers.

Before its disappearance, Avaddon said it hacked Valley National Bank's network and threatened to leak sensitive data. The bank is still investigating.

Federal Reserve officials held interest rates near zero while signaling they expect two increases by the end of 2023, pulling forward the date of liftoff and projecting a faster-than-anticipated pace of tightening as the economy recovers.

In the past five years combined only 14 banks failed to meet the minimum market capitalization for inclusion in the index. In this year's rebalancing, 82 are being removed and some may have to consider strategic options to appease investors.