SoFi CEO Mike Cagney (r), President/CFO Nino Fanlo (l)

Mike Cagney, co-founder and CEO of lending company SoFi, will resign by the end of the year, he said in a note to employees on Monday. He's also immediately stepping down as the company's executive chairman.

Cagney's resignation comes as the company faces allegations of sexual misconduct by former finance chief Nino Fanlo and a newly disclosed settlement following an investigation in 2012 into a dispute between Cagney and an employee, as reported by the Wall Street Journal and the New York Times. The latter adds that Cagney allegedly also had inappropriate relationships with another employee later that year.

Last month, a former employee filed a lawsuit against the company, alleging that it had fostered a sexist culture and that he was fired after reporting some managers for sexually harassing their subordinates.

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Romney calls Stone commutation "historic corruption"

Sen. Mitt Romney. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Sen. Mitt Romney (R-Utah) on Saturday tweeted a scathing response to President Trump's Friday night commutation of former associate Roger Stone's prison sentence, calling the move "[u]nprecedented, historic corruption."

Why it matters: Romney has emerged as the party's most prominent Trump critic. He sent shockwaves through Washington after announcing he would vote to convict Trump in the impeachment trial — becoming the only Senate Republican to break ranks and vote for the president's removal from office. Now he is the first major GOP lawmaker to condemn Trump's Friday night call regarding Stone.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8 a.m. ET: 12,520,431 — Total deaths: 560,830 — Total recoveries — 6,900,718Map.
  2. U.S.: Total confirmed cases as of 8 a.m. ET: 3,184,722 — Total deaths: 134,830 — Total recoveries: 983,185 — Total tested: 38,856,341Map.
  3. Public health: The reality of the coronavirus bites.
  4. Trade: Trump says he's no longer considering phase-two trade deal with China because the pandemic damaged the two countries' relationship.
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3 hours ago - Health

We're losing the war on the coronavirus

Chart: Danielle Alberti/Axios

By any standard, no matter how you look at it, the U.S. is losing its war against the coronavirus.

Why it matters: The pandemic is not an abstraction, and it is not something that’s simmering in the background. It is an ongoing emergency ravaging nearly the entire country, with a loss of life equivalent to a Sept. 11 every three days — for four months and counting.