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The Securities and Exchange Commission last week accused Ripple of breaking securities laws, raising questions about the future of banks' ties with the company.

The motivation behind JPMorgan Chase's purchase of rewards company cxLoyalty is clear — travel spending and rewards have suffered greatly during the pandemic — but another problem Chase is tackling with this acquisition is the need to wean people off cash rewards.

Last year, the Pennsylvania Credit Union Association and the New Jersey Credit Union League merged to form the CrossState Credit Union Association, and now the foundations of the two groups are combining.

The new legislation includes a provision sparing lenders from having to pay such fees on Paycheck Protection Program loans, except in cases where they agree in advance with borrower representatives to do so.

Jay Neathery has taken over for Chris McCreary, who stepped down as president of the institution but is staying on as executive vice president.

Treasury Secretary Steven Mnuchin approved the extension of the Main Street Lending Program, which offers loans to midsize companies affected by the pandemic, to Jan. 8.

The Consumer Financial Protection Bureau is headed for more disruption in the new year with a Democratic administration likely to reverse several GOP-backed policies. More aggressive relief for mortgage borrowers, a rollback of Trump-era rulemakings and yet another realignment of CFPB offices will all be on the table.

A Biden-appointed comptroller could refocus resources and attention to these issues and put less effort into fighting the ongoing fintech charter battle.

Jack Ma’s besieged Ant Group Co. is planning to fold its financial operations into a holding company that could be regulated more like a bank, according to people familiar with the situation, potentially crippling the growth of its most-profitable units.

The Allen, Texas-based institution is crediting a robust on-site medical program with helping keep staff and members safe.