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A consortium including Coinbase Global said all the reserves of the second-largest cryptocurrency stablecoin will shift into cash and short-term U.S. Treasurys, forgoing riskier investments.

Year to date through Jun. 30, 2021. Dollars in thousands.

Year to date through Jun. 31, 2021. Dollars in thousands.

The IRS and Justice Department waged a successful campaign to crack down on UBS and other Swiss banks for facilitating tax evasion. Coinbase, Kraken and other crypto exchanges should take note.

Fintechs and banks have stepped up their efforts to help so-called “credit invisibles” obtain credit through secured cards, specialized installment loans and use of alternative data in underwriting. Amid much progress, questions remain about how effective these tools really are.

The regional Fed bank said it was making the move “due to the recently elevated COVID-19 health risk level in Teton County, Wyoming.”

Bankers are hopeful that the rebound in oil prices and a spike in natural gas use are precursors to more borrowing. But banks are maintaining above-average levels of reserves in case the delta variant stifles economic momentum.

The bank, which helped launch the real-time network for peer-to-peer payments, is trying to duplicate that success by helping corporate clients process certain transactions instantly with wholesale partners and, in some cases, retail customers.

Mid-Southern Bancorp angered several large shareholders after disclosing that it bought another’s shares for a hefty premium. The seller’s identity is unknown, but the bank’s shareholders include a number of prominent activists.

Scott Credit Union of Edwardsville said it is acquiring Tempo Bank in Trenton, Illinois. It is the fifth such transaction announced since Aug. 5 and the 10th of the year.