Dec 18, 2019

The Fed opens its doors to fintechs

Photo: Caroline Brehman/CQ Roll Call

The Fed is extending invitations to financial technology companies (and other companies interested in fintech) for face-to-face conversations. The sessions are called "financial innovation office hours,” the central bank announced Tuesday.

Why it matters: This is a first for the Fed board, though the San Francisco regional bank has hosted similar events in the past.

Even if the events are just optics, they are part of a trend: The Office of the Comptroller Currency (OCC) — a key regulatory body that decides who can be an official bank — announced similar “office hours” earlier this year.

  • The Federal Reserve is a regulator fintechs will need to answer to should they become a bank.

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Updated 37 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 6,273,402 — Total deaths: 375,683 — Total recoveries — 2,697,873Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 1,811,277 — Total deaths: 105,147 — Total recoveries: 458,231 — Total tested: 17,340,682Map.
  3. Public health: Nearly 26,000 coronavirus deaths in nursing homes have been reported to federal health officials —Coronavirus looms over George Floyd protests across the country.
  4. Federal government: Trump lashes out at governors, calls for National Guard to "dominate" streets.
  5. World: Former FDA commissioner says "this is not the time" to cut ties with WHO.
  6. 🎧 Podcast: The virus didn't go away.
Updated 1 hour ago - Politics & Policy

St. John's clergy: Trump used church as prop, Bible as symbol of division

Photo: Brendan Smialowski/AFP via Getty Images

Clergy of the historic St. John's Episcopal Church expressed furor and confusion over President Trump's visit on Monday, which he claimed was to honor the establishment after George Floyd protestors sparked a small fire on the property Sunday night.

The big picture: Park rangers and military police deployed tear gas and physical force to disperse peaceful protestors from Lafayette Park, which surrounds the White House, so Trump could walk to "pay respects" to the church — and a St. John's rector on the scene revealed in a Facebook post that she was left "coughing" from the tear gas.

Updated 2 hours ago - Politics & Policy

Updates: George Floyd protests nationwide

Police officers wearing riot gear push back demonstrators outside of the White House on Monday. Photo: Jose Luis Magana/AFP via Getty Images

Protests over the death of George Floyd and other police-related killings of black people continued for a seventh day across the U.S., with President Trump threatening on Monday to deploy the military if the unrest continues.

The latest: New York City Mayor Bill de Blasio tweeted early Tuesday that he'd just left the Bronx and the police commissioner was sending additional assistance to problem areas. Protesters were "overwhelmingly peaceful" Monday, he said. "But some people tonight had nothing to do with the cause + stole + damaged instead," he added.