The nation's largest bank has chosen Thought Machines' technology for its U.S. consumer bank.

At a House Financial Services Committee hearing, lawmakers on both sides of the aisle questioned the widespread practice of screen scraping and agreed that consumers should have a more direct say over how their financial data is handled.

Whether to approve the $8 billion deal will fall to the Fed, whose board may be reshaped by President Biden in the coming months. The White House recently called for more robust scrutiny of bank acquisitions.

The company's new app bundles banking services such as payments, buy now/pay later and direct deposit. But the company plans to add features that could include stock trading, a popular offering from tech startups.

Only one credit union has answered the National Credit Union Administration's call for feedback on how the industry views and uses cryptocurrencies and blockchain technology.

Senate Majority Leader Chuck Schumer said he planned to move Tuesday to file a discharge petition to move Chopra’s nomination out of the Senate Banking Committee and onto the Senate floor.