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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.

American banks and their clients now see a business case for ISO 20022 as they expand cross-border and real-time transactions.

The heads of the six largest banks endured a second day of testimony as House members quizzed them on overdraft fees, investments in minority businesses and other issues. Meanwhile, the executives pushed back on Democrats’ proposal to raise the corporate tax rate.

Nearly a quarter of Black business owners seeking Paycheck Protection Program loans last year applied to fintechs — not far behind the percentage that turned to community banks, according to a New York Fed study. Deepening those new relationships could be a major source of growth for online lenders.

The technology giant is looking for a negotiator with experience in buy now/pay later, faster payments and cryptocurrency.