The Federal Reserve chair waved off suggestions that recent bank failures demonstrate a need to better separate its authorities. He also noted the importance of clear communication by central bank officials.

Although no laws have yet passed, most of the bills introduced thus far do not consider EWA products to be loans. California is an exception.

Sen. Elizabeth Warren, D-Mass., told Federal Deposit Insurance Corp. Chairman Martin Gruenberg that large banks are "seeking to pay back the gap in the deposit insurance fund with devalued assets."

Data-aggregator Kasheesh enables consumers to fund purchases and build credit scores using a combination of credit, debit and gift cards, based on recommendations powered by artificial intelligence.

In a speech delivered to the Texas Bankers Association, the Federal Reserve governor called on bankers to create and test liquidity plans capable of weathering turmoil.

After the departure of a key Small Business Administration official, lawmakers from both parties are calling on the SBA's chief to delay rules that could open the agency's biggest lending program to more nonbanks — or even consider reversing the changes.