Betterment buys Ellevest’s automated investment arm
The largest independent digital investment advisor in the U.S. is buying the automated investing arm of the woman-focused company.
CFPB drops lawsuit against Capital One
The Consumer Financial Protection Bureau voluntarily dismissed a lawsuit against Capital One brought under the Biden administration alleging the bank failed to honor interest rate promises, costing consumers an estimated $2 billion.
RBC raises loss provision amid concern over U.S. tariffs
Canada’s largest bank is bracing for the impact of a threatened U.S. 25% tariff on imports from north of the border. But the cloudy 2025 outlook was offset by strong results last quarter.
CFPB nominee McKernan says he will uphold the law
Under grilling from Senate Democrats, Consumer Financial Protection Bureau Director-designate Jonathan McKernan agreed to continue the statutory mandates of the bureau, but refused to comment on Elon Musk, stop-work orders, or litigation that has been dropped against financial firms.
What Stripe’s new $91 billion valuation means for payments
As the company asserts profitability and focuses on AI-powered checkout, its $95 billion high-water mark from the pandemic-era 2021 bubble is in sight, providing clues about broader investor demand.
Puerto Rico’s Popular names successor to its retiring CEO
The island’s largest bank promoted President Javier Ferrer to CEO, effective July 1. He will succeed Ignacio Alvarez, who will retire from the company at the end of June.
Goldman Sachs removes diversity goals after Trump DEI order
“We have made certain adjustments to reflect developments in the law in the U.S.,” Chief Executive Officer David Solomon said.
Wells Fargo scraps diversity policy for senior-level recruitment
Wells Fargo joins Bank of America, Citi and Charles Schwab in stepping away from its DEI policies.
Trump says Canada and Mexico tariffs ready, adds China duty
President Donald Trump’s 25% tariffs on Canada and Mexico are on track to go into place on Tuesday and he plans to impose an additional 10% tax on Chinese imports, moves that would deepen his fight with the nation’s largest trading partners.
Exclusive: Flexa launches crypto tap-to-pay, no app required
Flexa’s new tap-to-pay function is the first cryptocurrency contactless payment option that does not require an app or the internet to function.