The FDIC fined the New York bank $12.5 million for ignoring previous orders to clean up its act; economists say the program hasn’t saved that many jobs to justify the expense.

The administration is expected to stress financial access and consumer protection; economists differ whether the move away from cash was a temporary response to Covid or long-lasting.

The chief bank supervisor says eurozone banks aren’t taking loan losses seriously enough; the German bank is planning to cut payroll by a third and close nearly half of its branches.

The bank’s plans are more ambitious than Goldman’s Marcus bank, which only offers savings accounts; top officials say the Fed won’t pressure banks to avoid lending to certain industries.

The banks are publicly committing to interview more minorities for top positions; the agency says automated compliance checks are preventing lenders from approving loan applications.

The Senate voted 84-15 to approve the former Fed chief as the first woman to head the department; Biden White House is resuming efforts to replace Jackson with the abolitionist.

The expected nomination of Michael S. Barr has disappointed many progressives; the Morgan Stanley boss got a 22% raise to $33 million, while JPMorgan CEO held steady at $31.5 million.

Consumer banking may do better this year, while the investment banking boom is unlikely to repeat; several prominent investors likely took losses betting on Fannie, Freddie privatization.

The Wall Street bank’s 51% jump in net income caps a strong earnings season for the biggest banks; President Biden is expected to nominate Michael Barr, a former assistant treasury secretary who helped write the 2010 Dodd-Frank Act, as comptroller.

Lenders are expecting strong demand for the small business loans, especially for second-timers; a steeper yield curve is helping profits, but stronger loan growth would help even more.