The Latest

President Biden plans to direct his administration to develop a strategy on climate-related risks for public and private financial assets, according to a draft document seen by Bloomberg News.

Regulators have approved the credit union's request to add 477 underserved census tracts to its field of membership, allowing it to reach roughly 2.5 million consumers.

The Chicago fintech, which currently offers personal loans and credit cards, will add deposit accounts with the acquisition of Level.

The Financial Stability Oversight Council has struggled to find its footing since its creation in Dodd-Frank. The Treasury secretary has signaled a more aggressive role for the panel, including reviving its authority to target nonbank behemoths.

Banking and payments technology tester and certifier Fime is working with the government of India to develop the testing infrastructure for a national contactless transportation card and accompanying mobile app.

The Mexican unit of the fintech Nubank, the world’s biggest standalone digital bank, is getting a $135 million injection to propel its nascent operations in Latin America’s second-largest economy.

The joint checking account is similar to its individual checking feature, launched last April, and will target millennial couples in particular.

Senate Banking Committee Chairman Sherrod Brown asked banks involved with Bill Hwang’s Archegos Capital Management to explain their role in the firm’s implosion.

Michigan State University Federal Credit Union has doubled in size since 2015, thanks in part to expanding its branch network and field of membership.

State-level groups are pushing measures intended to improve the operating environment for the industry, such as increasing flexibility with field of membership, and providing parity with banks and federally chartered institutions.