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The funding requests break sharply with the Trump administration's calls to eliminate key housing funds and backing for community development financial institutions. The White House also wants to substantially increase the budgets of the Treasury Department and the Small Business Administration.

Development and regulatory costs would be so high that the largest firms would need significantly more scale to justify the investment, according to new research from the Federal Reserve Bank of Richmond.

The London-based banking giant announced a plan this week to exit the mass-market U.S. retail business and focus on managing the wealth of affluent globe-trotters. But other international banks will provide stiff competition.

The U.S. unit of Toronto-Dominion Bank plans to invest in CDFIs and specialized funds that serve Black, Hispanic and other diverse business owners in its East Coast territory.

There’s so much spare cash sloshing around U.S. funding markets that investors are choosing to park almost half a trillion dollars at the central bank — earning absolutely nothing.

Ahead of its U.S. launch, the London-based payments card aggregator has raised $14 million from 12,000 individual investors that it hopes to convert to customers.

With Rohit Chopra’s nomination now in its fourth month, some of the consumer bureau's rulemaking efforts remain on hold. Experts say Democrats first want the Senate to confirm a new member of the Federal Trade Commission to replace Chopra so that Republicans don't gain control.

The top Republican on the Senate Banking Committee, Pat Toomey of Pennsylvania, says the Federal Reserve's heightened attention to racial and income inequality amounts to "political advocacy." But Al Piña, the CEO of the Florida Minority Community Reinvestment Coalition, argues that promoting equality is part of the Fed's mission.

“Our goal is by after Labor Day to effectively be back to where we were in January of 2020,” Chief Executive Brian Moynihan said.

The financial technology firm Stash is exploring options for a market listing, such as merging with a special purpose acquisition company or a traditional initial public offering, according to people with knowledge of the matter.