CFPB nominee says he will focus on inaccurate credit reports and borrowers behind on housing payments; the bank is reopening its trading desk as cryptocurrencies gain wider acceptance.

After hiring two Goldman executives, the retailer could be looking to partner with more banks or become one; the buy now-pay later company is now worth $31 billion and seeking acquisitions.

Jane Fraser, the first woman to head a U.S. mega bank, tries to refresh Citigroup; Omer Ismail, the head of its Marcus unit, will head the retail giant’s new fintech startup.

Thasunda Brown Duckett is one of Wall Street’s most prominent Black executives; the central bank blamed Wednesday’s shutdown of its payments systems on a maintenance mistake.

The cause of the disruption is unknown, although the Treasury said it wasn’t a cyberattack; applications fell 11% after the average 30-year fixed-rate loan rose to 2.81%.

The sale, which is set for $2.1 billion, is part of the bank’s plan to reduce its costs; the bank hopes managing stock ownership plans will deepen its reach with tomorrow’s Silicon Valley rich.

Yellen says the tests probably won’t lead to imposing capital requirements or limit dividends; the big banks want a global convergence in financial standards to do business in other countries.

M&T Bank in Buffalo has a deal for Bridgeport, Conn.-based People’s United for more than $7 billion; more people are buying homes sight unseen online as interest rates start to climb.

The Treasury secretary says the economic crisis warrants the $1.9 trillion spending plan; Brainard says banks and other lenders need to prepare for events like the crisis in Texas.

A report says the Fed has approved the bank’s risk management proposal, although it’s not home free yet; JPMorgan Chase is investing $200 million to help minority firms become Fortune 500 giants.

A federal judge ruled that lenders can keep $500 million the bank erroneously wired to them; the president extended the moratorium another three months, to June 30.

About 19 million loans, worth $7 trillion, are still strong candidates for refinancing; the pandemic has demonstrated the need for banks to close branches and cut jobs.

The custodian said it will hold, transfer and issue cryptocurrencies on behalf of its asset management clients; some got caught up in the homebuying frenzy and now regret it.

The company plans to accept digital currencies on its network sometime this year; Citi’s incoming CEO will rely on her international experience to try to fix the bank’s problems.

High usage fees and the cryptocurrency’s volatility make it unlikely it will become a widespread payments method; the JPMorgan Chase CEO was the only bank executive at the meeting.

The auto company said it bought $1.5 billion of the digital currency and plans to accept it for purchases; but the two top contenders share similar views on racial inequality in banking.

The money transfer service has been accused of aggressively collecting on overdrawn customers; the asset manager is being urge to pressure the bank to cut fossil fuel lending.

The company did more than $20 billion in in-store volume last year at more than 600,000 merchants; the president is now considering using an executive order to erase the debts.

Isabel Guzman wants the agency to better help minority businesses and underserved communities; volume has jumped by as much as 200% as consumers shop online and eschew credit cards.

The country’s financial regulator says many people who take out “buy now, pay later” deals don’t view them as loans; Navient ordered to repay $22 million it overcharged the government.