The company's application, which is expected to be announced as early as Thursday, comes after online lender SoFi applied in June for an industrial loan company. The bank is expected to be led by a former Green Dot executive.
The Fed announced Vice Chairman Stanley Fischer will depart in October, giving Trump the ability to rapidly reshape the central bank and target Dodd-Frank Act rules.
The Wall Street giant on Wednesday played up its customer service skills, saying that representatives of its Marcus personal-loan unit answer calls within 10 seconds.
The central bank said Wednesday that it will assess a range of options regarding its operational role in a modernized payment system, an issue that divides large and small banks.
The Consumer Financial Protection Bureau has fined a California-based lead aggregator and its owner hundreds of dollars for allegedly directing consumers towards illegal loans that would be void in their states.
Messaging services, mobile banking and remote deposit capture are expected to help Florida banks that aim to keep up with employees and offer uninterrupted service to customers.
As part of a $35.5 million settlement with black financial advisers, Wells Fargo agreed to take non-financial measures to create a more fair workplace.
