Investments

HSBC Holdings is planning to phase out the financing of coal used for generating electricity by 2040, the latest bank to commit to ending support for the greenhouse gas-intensive fossil fuel.

The proceeds will support Silvergate’s network that facilitates cryptocurrency transactions and a leveraged lending product that provides loans collateralized by bitcoin.

Banco Bradesco, Brazil’s second-biggest bank by market value, is partnering with the Miami-based fintech BCP Global to offer digital investments to upper-middle-class and rich Brazilians.

BlackRock, the world’s largest issuer of exchange-traded funds, will move most of its U.S. ETF assets from State Street to reduce its reliance on the bank’s custody services.

CEO Jane Fraser said the bank isn’t a fan of the idea of simply asking clients to dispose of any so-called brown assets, which would just shift the problem to a new owner.

The city and the nonprofit Operation HOPE will offer $100 to kids from low-income households, with banks playing an assisting role. “Once you own some stock, once you have an account, now you're watching that grow and you’re a participant in the” financial system, said John Hope Bryant, the nonprofit's founder and CEO.

Formerly incarcerated people have long faced barriers to entering the mainstream financial system. Banks such as Old National and Bank of Hawaii are taking steps to help them, but the industry can do more, according to a new white paper from the American Bankers Association Foundation.

Recruiting from competitors can be hard to pull off, and it won't create more equity in the industry. Some of the Best Banks to Work For are finding ways to develop, support and promote women who are already on the payroll.

JPMorgan Chase was removed on Thursday from a $700 million Louisiana municipal bond deal after the bank’s stance on guns drew criticism from state Republican officials.

Adelphi Bank in Columbus, Ohio, would be just the nation’s fourth depository with a predominantly African American board of directors. “The hope is that we change lives,” said Jordan Miller Jr., who would serve as president and CEO.