George Yacik

The auto company said it bought $1.5 billion of the digital currency and plans to accept it for purchases; but the two top contenders share similar views on racial inequality in banking.

The money transfer service has been accused of aggressively collecting on overdrawn customers; the asset manager is being urge to pressure the bank to cut fossil fuel lending.

The company did more than $20 billion in in-store volume last year at more than 600,000 merchants; the president is now considering using an executive order to erase the debts.

Isabel Guzman wants the agency to better help minority businesses and underserved communities; volume has jumped by as much as 200% as consumers shop online and eschew credit cards.

The country’s financial regulator says many people who take out “buy now, pay later” deals don’t view them as loans; Navient ordered to repay $22 million it overcharged the government.

The FDIC fined the New York bank $12.5 million for ignoring previous orders to clean up its act; economists say the program hasn’t saved that many jobs to justify the expense.

The administration is expected to stress financial access and consumer protection; economists differ whether the move away from cash was a temporary response to Covid or long-lasting.

The chief bank supervisor says eurozone banks aren’t taking loan losses seriously enough; the German bank is planning to cut payroll by a third and close nearly half of its branches.

The bank’s plans are more ambitious than Goldman’s Marcus bank, which only offers savings accounts; top officials say the Fed won’t pressure banks to avoid lending to certain industries.

The banks are publicly committing to interview more minorities for top positions; the agency says automated compliance checks are preventing lenders from approving loan applications.

The Senate voted 84-15 to approve the former Fed chief as the first woman to head the department; Biden White House is resuming efforts to replace Jackson with the abolitionist.

The expected nomination of Michael S. Barr has disappointed many progressives; the Morgan Stanley boss got a 22% raise to $33 million, while JPMorgan CEO held steady at $31.5 million.

Consumer banking may do better this year, while the investment banking boom is unlikely to repeat; several prominent investors likely took losses betting on Fannie, Freddie privatization.

The Wall Street bank’s 51% jump in net income caps a strong earnings season for the biggest banks; President Biden is expected to nominate Michael Barr, a former assistant treasury secretary who helped write the 2010 Dodd-Frank Act, as comptroller.

Lenders are expecting strong demand for the small business loans, especially for second-timers; a steeper yield curve is helping profits, but stronger loan growth would help even more.

The Obama-era official is expected to reverse the relaxed regulatory stances at the CFPB; the ratings firm is teaming with a French AI startup to try to detect misbehavior early.

The action is expected to be challenged by banks and the Biden Administration; the Fed chair says the central bank has no plans to raise rates or tighten monetary anytime soon.

The bank is combining its wealth management units to serve both the ultrarich and the less affluent; the small business loan program will open to all borrowers on Tuesday.

The company said it would have eventually prevailed against the DOJ’s antitrust suit; the Ohio senator says the panel will focus on climate change and housing issues.

The giant retailer is looking to expand its menu of financial services products; in the face of competition, the banks are trying to simplify the product to get more people to use it.