Treasury Secretary Janet Yellen said a digital version of the dollar could help address hurdles to financial inclusion in the U.S. among low-income households.

From delivering water door to door to turning offices into shelters, bankers in the state have adapted their hurricane-response plans to offer customers and employees relief from the past week's snow emergency and power outages.

Year to date through Dec. 31, 2020. Dollars in thousands.

MoneyLion and Opportunity Financial are following in the footsteps of financial technology businesses that have raised billions of dollars from special purpose acquisition companies. The quick injection of funds is expected to accelerate their growth as well as make them more competitive with banks and other mainstream financial services firms.

A severe cold snap in the state has tested financial institutions unaccustomed to such weather-related disruption.

The company has agreed to pay $32 million for a bank with six branches and $256 million of assets.

The automated investing tool is part of Goldman Sachs's effort to be a full-service digital bank and to help partners like Apple and Stripe offer financial products, according to Stephanie Cohen, global co-head of consumer and wealth management.

Comerica, Regions and Frost Bank closed hundreds of branches statewide while others ran them at reduced capacity or on power generators to help ease the strain on the state’s overwhelmed power grid.

Paybby, whose founder wanted to address disparities in the financial system after the George Floyd protests, is working with banks and others to develop products especially for underserved communities. They include a debit card that substitutes for food stamps and an app that temporarily sweeps cash into cryptocurrency.

Consumers who have felt betrayed by banks are more likely to turn to mobile apps that give them a greater sense of financial control. Bankers must reconnect with these people and reassure them that their personalized advice is safe and valuable.

On Sep. 30, 2020. Dollars in thousands.

On Sep. 30, 2020. Dollars in thousands.

Gov. Michelle Bowman said the agency's analysis of certain deals should weigh the competitive threats posed by technology companies and nonbanks.

Others, like JPMorgan Chase, have shut down their mobile-only brands. But Rising Bank, Midwest BankCentre's three-year-old neobank, is meeting its deposit goals, adding new products and avoiding cannibalization, says Dale Oberkfell, the bank's president.

A full rebound won’t occur until next year at the earliest because of the slow vaccine rollout, most executives at small banks said in a new survey. Last summer, more than half expected a turnaround this year.

Transportation and clean-energy upgrades could create significant new lending opportunities, but some observers fear the government will foot the bill through a special tax on banks and other financial firms.

Ken LaRoe, whose First Green Bancorp was sold a few years ago, is seeking approval for a de novo called Climate First Bank that would cater to low-income communities hurt by climate change and favor ecology-minded tech vendors.