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Chime Financial Picks Morgan Stanley for IPO, Janet Yellen Calls for Bank Regulation, Wells Fargo Submits Risk Review to Fed, Synchrony and Dick’s Extend Partnership, Fed Rate Cut and Small Business Impact, FTC Targets Deceptive AI Claims
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- Chime Financial has chosen Morgan Stanley to lead its IPO, aiming for a 2025 launch after a previous postponement in 2022.
- Treasury Secretary Janet Yellen calls for stronger financial regulations to improve resilience against bank runs and other risks.
- Wells Fargo submits a review to the Federal Reserve in hopes of lifting a cap on its assets imposed in 2017, while agreeing to address deficiencies in risk management.
- Synchrony and Dick’s Sporting Goods extend their credit card program partnership, continuing to offer athletes exclusive rewards and benefits.
- The Federal Reserve's recent interest rate cut leaves small business owners uncertain, with some planning expansions and others calling for more significant cuts.
- The FTC launches "Operation AI Comply," targeting companies making deceptive AI claims, with several enforcement actions already taken.
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