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Rohit Chopra, President Biden’s pick to head the Consumer Financial Protection Bureau, is expected to be the type of aggressive leader the agency had at its inception. Is that what consumers need?

Rep. Patrick McHenry, the ranking GOP member of the House Financial Services Committee, requested a hearing with Dave Uejio to address policy actions “traditionally ... reserved for a Senate-confirmed Director.”

The tech giant is entering a heavily competitive market led by large companies like PayPal and hot startups like Affirm and Afterpay.

First Women's Bank received approval from the Federal Deposit Insurance Corp. this week and is set to open its doors in the fall. It is the first new bank to be chartered in Illinois since 2010.

The Minneapolis company recently advised a nonprofit on a $30 million issuance that will provide financing to developers building multifamily housing and community facilities. It includes a framework, which the bank intends to deploy again, for informing investors on how the money is being used.

The agency’s new chief said eliminating the “adverse market fee” — in place since December — will make it easier for families to refinance while mortgage rates are still low.

Recent delays may be frustrating, but the Office of the Comptroller of the Currency isn't closing the door on financial technology companies. However, applicants will have to be patient, forthright about their business plans and willing to actively engage any state or federal regulatory agencies that the OCC consults.

Square is creating a new business line to help developers build financial services products focused on Bitcoin, according to tweets from CEO Jack Dorsey.

Blend Labs, a lending platform for financial companies, raised $360 million in an initial public offering price at the top of a marketed range.

Daily edition for July 16, 2021.

Congress had been close to passing legislation to help banks serve cannabis firms. Now Democratic leaders have all but abandoned the effort, prioritizing a riskier proposal to decriminalize the drug.

Financial Plus Credit Union and Wanigas Credit Union both serve autoworkers in the same region, and were both founded in 1952.

A strong showing by the North Carolina bank’s insurance arm helped to overcome lower interest rates and sluggish lending in the second quarter.

United Community Banks in South Carolina and Blue Ridge Bancshares in Virginia have each struck agreements to buy or merge with banks in major metropolitan markets, where they will aim to siphon business from larger rivals.

The Reserve Bank of India says the card brand failed to comply with a requirement to store transaction details locally. The handling of payment information has become a point of contention between the Asian nation and American firms.

Sens. Sherrod Brown and Elizabeth Warren criticized Federal Reserve Chair Jerome Powell over reg relief policies instituted by the central bank, signaling that some progressive lawmakers may be reluctant to give him a second term.

The Minneapolis company benefited as business for airlines and hotels picked up sooner than expected. The rebound helped fee income in the bank’s payments business approach prepandemic levels.

Salt Labs researchers exploited four types of vulnerabilities in the application programming interfaces of a large financial company. Their findings contradict conventional wisdom about the safety of APIs in the sharing of consumer data.

The agreement will likely end a three-year-old dispute over allegations that the company misled borrowers by promising no hidden fees on its consumer loans.

Revolut raised $800 million from investors including SoftBank Group’s Vision Fund 2 and Tiger Global Management at a $33 billion valuation, the latest sign of investor demand for fintechs.