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The plan underscores how Chief Executive David Solomon is seeking to reshape U.S. operations geographically as he looks to rein in expenses, placing thousands of jobs in cheaper locales.

Sixty-one percent of executives at large U.S. banks said their institution would be prepared to comply with the kind of testing now happening in the U.K., according to a new survey. But experts question whether bankers are underestimating the data-gathering challenges ahead.

Utah Community Credit Union and state officials as part of an experiment are letting consumers use electronic ID to open accounts and conduct other business. It's easier said than done.

Rohit Chopra, who was the Consumer Financial Protection Bureau's first student loan ombudsman, is expected to crack down on unfair debt collection and other practices once he is confirmed by the Senate to lead the bureau. Observers predict he'll work closely with former CFPB Director Richard Cordray, who now oversees the Education Department’s $1.7 trillion portfolio of federal student loans.

Nine of the 12 largest banking companies in the U.S. proposed higher quarterly payouts to shareholders. In announcing the actions, the banks touted their strength after more than a year of economic dislocation.

The company’s Tap to Phone technology exists in 30 countries. Visa is piloting the program in the U.S. with a six-city campaign that brings discounts, offers and grants to Black-owned small businesses.

MDI credit unions added about 400,000 members, assets of $10.6 billion and six new credit unions in 2020, according to the National Credit Union Administration.

The Consumer Financial Protection Bureau issued a temporary final rule that allows mortgage servicers to initiate foreclosures on abandoned properties and certain delinquent borrowers, but it also outlined additional measures that shield distressed homeowners.

The now-defunct neobank was famous for its ability to help customers ensure their balances were adequate to cover upcoming bills or savings plans. Digit and others have started offering their own variations on this feature.

Fed Vice Chairman for Supervision Randal Quarles says the benefits of a central bank digital currency are “unclear,” and that a digital dollar could actually “pose significant and concrete risks.”