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The organizations that received charters this year emphasize digital access and remote work, and aim to address the economic disparities highlighted by the pandemic and the nationwide wave of racial justice protests.

Wells Fargo’s average loans tumbled in the second quarter as consumers and businesses, buoyed by pandemic stimulus programs, refrained from more borrowing.

Fiscal restraint, the reversal of enormous amounts of monetary stimulus, smarter regulation and job retraining are among the public policy steps that could interrupt the long U.S. tradition of boom-and-bust cycles.

Income from stock trading and investment banking trounced analyst estimates in the second quarter and made up for weaknesses in the company's much bigger fixed-income and credit card divisions.

The company fell short of net interest income projections as loans and leases in the consumer banking unit dropped 12% from a year earlier. However, loan balances grew from the first quarter — the first sequential increase in a year.

The president has a chance to make his mark on the central bank as the terms of Federal Reserve Chair Jerome Powell and Vice Chair of Supervision Randal Quarles near their end. He will face pressure from progressives to pick reform-minded leaders, while moderate Democrats and Republicans in the narrowly divided Senate might favor reappointing Powell.

For the first time, the FDIC, Federal Reserve and OCC have combined efforts to advise banks on risk management procedures when working with nonbank partners.

The credit card issuer’s move will increase the pay of more than 5,000 employees. Numerous banks have recently raised their minimum wages in a competitive labor market.

This has been dubbed the "summer of quitting," and three neobanks are aiming to capitalize on the trend by developing apps that provide budgeting, invoicing and tax calculation to meet the specific needs of contract workers.

While customers of the nation’s largest bank are spending more, an unusually small percentage of their purchases are becoming debt. Executives warn that the bank’s predicament could persist for the rest of the year.