The payments company has loaned $5.5 billion to 275,000 small businesses, thanks to a data-driven process free from human interaction.

The charter may provide greater confidence for digital currency investors; bank expects to make large-scale job cuts in its global banking and markets unit.

Division is making progress, helped by a rise in branded credit cards; about 200 bankers in agriculture and energy lending let go in recent months.

Santander Consumer is planning to attract online deposits via a national platform that could rival Goldman Sachs’s Marcus; HSBC is now in retrenchment mode after aiming for growth.

Consumer banking is expected to offset the banks’ underperforming Wall Street units; the defections of Visa, Mastercard and Stripe threaten the cyrpto project’s viability before it starts.

Europe's PSD2 doesn't directly impact Hong Kong, but its monetary decision makers support open banking frameworks, sparking a network of banks to support that effort through the help of HSBC and Swift.

The decision is a blow to Facebook's digital currency plans; the reduction is the bank’s “most ambitious attempt to rein in costs in years."

Europe would feel the brunt of the reductions, which would affect about 4% of the bank's global workforce.

HSBC's shortlist for its next chief executive includes Stephen Bird, Citigroup's head of global consumer banking, and RSA Insurance Group CEO Stephen Hester, Britain's Sunday Times newspaper reported.

JPMorgan, which led the offering, may have “enabled” the startup’s questionable behavior; the system may enable more people to get approved for mortgages.