Financial inclusion

Ravi Menon says that Facebook's bid to create its own digital currency has laid bare shortcomings in cross-border payments and financial inclusion that banks and regulators must address.

The service from Evolve Bank & Trust and Branch lets workers access a piece of their next paycheck to meet unexpected expenses.

Walmart has filed a patent application for a digital currency that, like Facebook's Libra, would be a stablecoin backed by traditional currencies. And it envisions a very specific use case where its coin could stand in for cash — or even for a bank account.

The deal cleared another key hurdle as Financial Services Committee members showed little interest in slowing the formation of Truist Financial.

Legislation backed by Democrats to reform the credit bureaus and allow consumers greater access to their information advanced without any Republican support.