An opponent of affirmative action is challenging the U.S. Securities and Exchange Commission’s approval of a rule to get more women and minorities on the boards of companies trading on Nasdaq.

The new standards give some 300 listed banks up to five years to meet targets for including women and minorities on their boards, or explain why they aren't doing so. State officials and investors had already pushed banks about the need to rethink their approaches to recruiting directors.

The Boston-based firm plans to close its two midtown Manhattan offices, the company said. Its New York-based staff will work remotely or from buildings in New Jersey and Connecticut.

M&T in New York, which is seeking regulatory approval to buy People’s United Financial, recently disclosed plans for around 1,000 layoffs. The backlash — focused on job cuts in the seller’s hometown of Bridgeport — has been stronger than in other recent deals.

CoinFund, a blockchain-focused investment firm, hired Christopher Perkins from Citigroup as managing partner and president to help bridge the gap to the traditional finance sector.

In the short term, the Biden administration is asking the industry to help previously unbanked households access their funds. Longer term, some banks see a real opportunity in advising their customers on what to do with the large cash influx.

The largest U.S. bank, which often sets policies ultimately adopted by the broader financial industry, announced the change in a memo to staff Friday.

Wells Fargo is pushing its return-to-office plans back a month to early October, citing rising COVID-19 rates across the U.S.

In late July, the Justice Department notified the Houston bank of a potential lawsuit alleging violations between 2013 and 2017, according to a securities filing. Cadence said that its prospective merger partner, BancorpSouth, supports the settlement discussions.