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Daily edition for June 24, 2021.

Thompson, who was most recently the deputy director of the FHFA’s Division of Housing and Mission Goals, replaces Mark Calabria, who was fired Wednesday afternoon.

President Biden removed Mark Calabria as Federal Housing Finance Agency director hours after a Supreme Court ruling made the move possible. The administration is expected to offer up a nominee who will prioritize affordable housing and racial equity in housing instead of reforming Fannie Mae and Freddie Mac.

Majority, a startup with a mobile app that combines a bank account with other benefits such as global remittances and international calling, began by serving the Cuban and Nigerian communities in Florida and Texas. Now it’s available in all states and will use $19 million in seed funding to accelerate its growth.

The House Financial Services Committee passed a bill along party lines to require global systemically important banks to submit new annual reports on activities to the Fed.

The Faster Identity Online Alliance has established its first user-experience guidelines and delivered new standards designed to more quickly move authentication processes past traditional username-and-password combinations.

The cloud-based software vendor has completed a $10 million funding round through BlackFin Capital Partners and Picus Capital.

About 100 small banks have signed up for technology provided by the core software vendor Fiserv and the cryptocurrency custodian NYDIG that allows customers to buy, sell and hold bitcoin through their bank accounts.

The president will oust Federal Housing Finance Agency Director Mark Calabria, a Trump appointee, now that the high court says the chief executive can do so at will. It's "critical that the agency implement the administration’s housing policies," said a White House official.

The combined company will operate under the Royal name and leadership.

How technology is enabling new types of payment transmission and what this means for banking.

Splash recently raised $44 million from investors. It plans to use the funds to aid small institutions that lack the resources to build their own loan platforms but are flush with deposits and looking for new lending opportunities.

The justices on Wednesday threw out a key part of a challenge brought by firms including Paulson & Co., Pershing Square Capital Management and Fairholme Funds ​to the government’s collection of more than $100 billion in profits from Fannie Mae and Freddie Mac.

MidUSA Credit Union in Middletown, Ohio, and Heartland Federal Credit Union in Dayton have combined to form MyUSA Credit Union, which will operate nine branches in the Miami Valley and hold roughly $350 million of assets.

The $124 million buyout would give Farmers nearly $800 million of additional assets and deepen its presence in northeast Ohio.

Under federal health plans, categories like dental still have steep out-of-pocket costs, creating opportunities for companies like Sunbit and Ally Lending to provide options at the point of care.

The biggest U.S. banks, led by JPMorgan Chase and Bank of America, are expected to pay out $142 billion in capital to shareholders after clearing this year’s stress tests.

Policymakers need to stop attacking credit bureaus and take action against credit repair firms that use dubious tactics to wipe bad debt from consumers' credit reports. Such schemes both impair banks' ability to accurately underwrite loans and further hurt real victims of identity theft.

A majority of the justices concluded that the law establishing the Federal Housing Finance Agency violated the Constitution when it said a president may only remove the agency's chief "for cause."

The policy, outlined in an internal memo, is one of the most restrictive issued by a major U.S. bank so far.