In a forum Tuesday, Senate Democrats railed against President Trump and Elon Musk's efforts to shutter the Consumer Financial Protection Bureau as anti-consumer and illegal.

The fintech, which works with and competes with banks, will now let business users book travel and manage expenses in one place.

The Justice Department said in a legal brief that the Consumer Financial Protection Bureau will continue to exist, but said instead that the agency will have fewer employees and a reduced budget under the Trump administration.

The Illinois company plans to acquire neighboring Bancorp Financial in a cash-and-stock transaction that would form the second largest community bank in the Chicago area.

The collaboration will enable the payment company's Fastlane system to reach merchants in the U.K. and Europe, addressing a need to scale the product quickly.

During his final week as the Federal Reserve's top regulator, Michael Barr outlined several proposals that he believes would bolster the financial system against emerging risks.