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Todd Harper, chairman of the National Credit Union Administration, said new assessments are likely needed because of an influx of deposits, but industry groups and other board members say the agency should wait to see if the reserve ratio recovers on its own.

The company has agreed to pay $32 million for a bank with six branches and $256 million of assets.

The automated investing tool is part of Goldman Sachs's effort to be a full-service digital bank and to help partners like Apple and Stripe offer financial products, according to Stephanie Cohen, global co-head of consumer and wealth management.

Federal Reserve Gov. Lael Brainard said "scenario analysis" is distinct from traditional regulatory tools to assess capital strength, but can measure the long-term impact of weather events and the transition to a greener economy.

The Madison, Wis.-based credit union will donate $1.5 million to a pair of United Way chapters in the region which will help distribute the funds to organizations serving communities of color.

Japan has long been known for its heavy use of cash, which is a burden for banks that are trying to move more services online. Maintaining ATMs alone costs about 700 billion yen ($6.6 billion) annually and another 100 billion yen is spent handling cash at branch counters, Nomura Research Institute estimates.

Beijing DMall E-commerce Co., an online retail service provider backed by Chinese supermarket Wumart Group, is planning an initial public offering in the U.S., according to people familiar with the matter.

Local payment methods can win big at e-gaming

Debit is a powerful tool for consumers, an important revenue source for financial institutions and a critical payment method for merchants, and it's importance has grown during COVID-19.

A survey commissioned by Bank of America found that Black entrepreneurs are more hopeful about revenue opportunities than other small-business owners, though many are still struggling to bring in the capital needed to expand.