Alert me
First Direct, HSBC’s digital bank, will switch its debit cards from Visa to Mastercard as the world’s second-largest payment card firm continues to challenge its rival’s market share in Europe through bank partnerships.

Democrats in the House and Senate banking committees unveiled legislation on Wednesday that would make unprecedented changes to the mission of the U.S. Federal Reserve, creating a mandate to reduce racial disparity across the economy.

HSBC said it is planning to double the number of Black employees in senior roles by the end of 2025, marking the latest financial firm to set hiring targets for the under-represented demographic group amid rising global concern over racial injustices.

Sixteen major European banks banded together to produce a payment system encompassing card payments, merchant transactions, and peer-to-peer payments, according to a joint statement released on Thursday.

The Libra Association, the group behind Facebook’s planned cryptocurrency, has nabbed another high-profile hire, announcing Wednesday that Credit Suisse executive Sterling Daines will serve as its new chief compliance officer.