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Sen. Pat Toomey, the top Republican on the Banking Committee, is demanding answers from the Federal Reserve Bank of Kansas City about the status of a Fed master account for the Colorado fintech firm Reserve Trust, which had figured in a recent confirmation controversy.
June 9
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The nonprofit First Step Alliance is working to launch Diverge Federal Credit Union, which plans to offer loans to cover the costs of gender affirmation surgery for individuals and adoption for same-sex couples.
June 9
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The card network's corner of Decentraland will host LGBTQ thought leaders and artists, and provide a way for visitors to connect with one another.
June 9
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The products MSU Federal Credit Union in Michigan is developing for transgender and nonbinary members also appeal to international and indigenous people, who often go by names that don't match their birth certificates.
June 8
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After blocking the Biden administration’s first pick for vice chair for supervision, five Republicans on the committee voted to approve Barr, clearing his path to confirmation.
June 8
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The Consumer Financial Protection Bureau ended the first “no action letter” agreement with a fintech that had provided immunity from regulatory actions.
June 8
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State Street fell the most in almost two months after declining to comment on a report it’s looking to acquire Credit Suisse Group.
June 8
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The executive has been given an expanded role in which he will tap into Santander Group’s annual $5 billion investment in technology.
June 8
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Bank of Montreal hired Piyush Agrawal from Citigroup as chief risk officer to succeed Patrick Cronin, who’s stepping down later this year.
June 8
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The Federal Housing Finance Agency and the Consumer Financial Protection Bureau want financial institutions to provide more outreach to non-English speakers, a move that could foreshadow multilingual disclosure mandates.
June 8
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Young community banks are using a range of options for digital banking platforms.
June 8
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Codat, a software startup that connects small businesses with financial institutions, raised $100 million in an equity funding round led by JPMorgan Chase’s growth-equity arm.
June 8
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In global news this week, ANZ Bank New Zealand adds a Gender Affirmation Leave policy, Mastercard works with Mercado Libre to secure crypto in Brazil, American Express Ventures back a Nigerian e-commerce startup, and more.
June 8
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The Alabama bank hopes that its new InvestPath platform, which combines automation and personal interaction, will attract first-time investors.
June 8
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Ray Skinner, who was most recently chief executive of Town & Country Bank in Missouri, will lead MNB Holdings, which owns Mission National Bank.
June 8 -
Some of the riskiest loans given to millennials and Gen Z shoppers for clothes and electronics — and neatly repackaged for investors — are dropping in value.
June 8
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The creation of a U.S. dollar central bank digital currency is an existential threat to the banking industry and needs to be treated as such.
June 8
IntraFi Network -
The bank is using a recent fintech acquisition to embed its services in merchant categories like health care and philanthropy, which have typically lagged in the move to digital commerce.
June 8
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The top Republican on the Senate Banking Committee said he would vote for Michael Barr to serve as the Federal Reserve’s vice chair for supervision. The committee will vote on Barr this afternoon.
June 8
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Lauded as the first step toward comprehensive regulation of digital assets, the package hits at the heart of a critical debate between banks and fintechs: Who gets a Fed account?
June 7
