White House readies order to fine banks for dropping customers for political reasons, WSJ reports
The order directs bank regulators to investigate whether any financial institutions might have violated the Equal Credit Opportunity Act, antitrust laws or consumer financial protection laws, the Journal reported citing a draft text of the order.
The order, which could be signed as early as this week, provides for monetary penalties, consent decrees or other disciplinary measures against violators, the report added.
The order also directs regulators to strike policies they have that might have contributed to banks dropping certain customers and requires the Small Business Administration to review the practices of banks that guarantee the agency's loans, the Journal said.
Reuters could not immediately verify the report. The White House did not immediately respond to a Reuters request for comment.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Geeky Gadgets
15 minutes ago
- Geeky Gadgets
Everything You Can Do With Copilot Create (Beginner Tutorial)
Have you ever wished you could create stunning visuals without spending hours learning complicated design software? Imagine describing your ideal image—whether it's a vibrant anime-inspired illustration or a sleek, professional banner—and watching it come to life in seconds. That's the promise of Microsoft Copilot Create, a new tool that combines the power of AI with an intuitive interface to make design accessible to everyone. Whether you're a total beginner or a seasoned designer, Copilot Create offers a seamless way to produce polished, professional-quality visuals with minimal effort. It's not just a tool; it's a creative partner that transforms how you approach design. In this beginner-friendly guide, Piggy Bank Accountant takes you through how to harness the full potential of Copilot Create, from generating custom images with detailed prompts to crafting cohesive branding materials. You'll learn how to integrate your personal touch, refine designs with ease, and even streamline your workflow by connecting with other platforms like Canva or Microsoft Designer. Whether you're designing for social media, presentations, or personal projects, this report will show you how to turn your ideas into reality—no advanced skills required. By the end, you might just find yourself rethinking what's possible in the world of design. Microsoft Copilot Create Overview AI Image Generation One of the most compelling features of Copilot Create is its ability to generate custom images based on detailed prompts. By simply describing the image you need—such as specifying the style, color palette, or subject matter—the tool produces tailored visuals that align with your requirements. For instance, you can request a cartoon-style illustration, an anime-inspired design, or even a realistic landscape. The platform also allows you to incorporate specific elements, such as logos or personal photos, making sure your designs align with your branding or personal preferences. Once the image is generated, you can further refine it by replacing elements, adding new components, or adjusting details to better suit your vision. This feature not only saves time but also enables users to create unique visuals without requiring advanced design skills. Customizable Poster and Banner Design Copilot Create excels in simplifying the creation of posters and banners, making it an ideal tool for both professional and personal projects. Whether you're designing a presentation poster, an event banner, or a social media graphic, the platform offers extensive customization options to meet your specific needs. Incorporate branding elements like logos, custom colors, and fonts to maintain a cohesive visual identity. Experiment with text placement, font styles, and visual effects to enhance readability and impact. Optimize designs for both digital and print formats, making sure versatility across platforms. For example, if you're creating a banner for an email marketing campaign, you can ensure it aligns seamlessly with your brand's visual identity while maintaining a polished and professional appearance. The flexibility of Copilot Create allows you to adapt your designs to various contexts without compromising quality. Copilot Create Beginner Tutorial 2025 Watch this video on YouTube. Here are more guides from our previous articles and guides related to AI image creation that you may find helpful. Making sure Branding and Design Consistency Maintaining consistency in branding is crucial for building recognition and trust, and Copilot Create simplifies this process through its brand kit feature. By applying predefined colors, fonts, and styles, you can ensure a cohesive look across all your projects, whether you're designing for social media, presentations, or promotional materials. The platform also offers the ability to resize content for specific platforms or use cases, such as: Creating optimized YouTube thumbnails that capture attention. Designing visually appealing Word document headers or covers. Crafting professional Outlook email banners that enhance communication. This adaptability ensures that your designs are not only visually consistent but also tailored to their intended purpose, enhancing their overall effectiveness. Seamless Integration with Other Tools Copilot Create integrates effortlessly with popular design platforms like Canva and Microsoft Designer, allowing you to export your projects for further customization or advanced editing. This seamless integration enhances your workflow by allowing you to combine the strengths of multiple tools. Additionally, the platform supports the upload of personal media assets, such as photos, graphics, or logos, directly into your designs. This capability adds a personalized touch to your creations and ensures they stand out in a crowded digital landscape. Whether you're working on a professional project or a personal endeavor, these features provide the flexibility needed to bring your ideas to life. User-Friendly Interface and Editing Features The intuitive design of Copilot Create makes it accessible to users of all experience levels. Complex tasks, such as text editing, font customization, and background removal, are simplified, allowing you to focus on the creative aspects of your project. For example, removing the background from an image is a quick and straightforward process, allowing you to seamlessly integrate the subject into a new design. Prompt-based adjustments further enhance the user experience, making it easy to refine your designs. Whether you're fine-tuning an image, experimenting with layout options, or adjusting visual effects, the platform ensures your final product aligns with your creative vision. This combination of simplicity and functionality makes Copilot Create a valuable tool for both novice and experienced designers. Streamlining Your Design Workflow Copilot Create is designed to optimize the design process, combining AI-driven features with robust customization options to deliver high-quality results efficiently. By automating time-consuming tasks and providing tools for precise adjustments, the platform enables users to focus on creativity rather than technical details. Whether you're working on a professional project, such as a corporate presentation, or a personal endeavor, like a custom birthday invitation, Copilot Create offers the tools and flexibility needed to bring your ideas to life. Its ability to balance ease of use with powerful functionality makes it an indispensable resource for anyone looking to streamline their design workflow. Media Credit: Piggy Bank Accountant Filed Under: AI, Guides Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
Reuters
15 minutes ago
- Reuters
India's Gland Pharma posts quarterly profit rise on Cenexi recovery, Europe sales growth
Aug 5 (Reuters) - India's Gland Pharma ( opens new tab reported a nearly 50% jump in first-quarter profit on Tuesday, driven by better margins and a recovery at its European unit Cenexi. The company reported a consolidated net profit of 2.15 billion rupees ($24.50 million) for the quarter ended June 30, from 1.44 billion rupees in the year-ago quarter. Revenue from operations rose 7.4% to 15.06 billion rupees. While sales from its U.S. business, which accounts for nearly half of the total, fell 2%, its Europe business posted a 29% rise. For further results highlights, click KEY CONTEXT Gland and several Indian pharma companies that make generic drugs derive a significant share of revenue from the United States and has continued to face pricing pressure in that market following U.S. President Donald Trump's imposition of hefty tariffs on goods imported from India. Rivals Sun Pharma ( opens new tab and Cipla ( opens new tab and Dr Reddy's ( opens new tab reported subdued U.S. sales in the quarter. However, Gland Pharma said improved margins and Cenexi's earnings before interest, taxes, depreciation, and amortisation (EBITDA) break-even supported quarterly performance, marking a turnaround after production setbacks at its Paris and Belgium units weighed on earnings over the past year. The company's EBITDA margin rose to 35% in the June quarter from 29% a year earlier. PEER COMPARISON * Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT APRIL TO JUNE STOCK PERFORMANCE -- All data from LSEG -- $1 = 87.7570 Indian rupeesthe
The Independent
16 minutes ago
- The Independent
Trump to sign order punishing banks that discriminate against conservatives: report
President Donald Trump is set to crack down on Wall Street banks accused of dropping customers over their conservative beliefs and shutting out cryptocurrency companies, a new report states. Trump, the self-professed first ' crypto-president,' is expected to sign an executive order as soon as this week that threatens financial penalties in response to so-called politically motivated 'debanking,' sources told the Wall Street Journal. A draft of the order viewed by the Journal directs bank regulators to investigate whether financial institutions have violated the Equal Credit Opportunity Act, a federal law that bars discrimination in access to credit. Investigators are reportedly also directed to look into whether antitrust or consumer financial protection laws have been breached. In some cases, the newspaper said, violations are to be reported by regulators to the attorney general, according to the order. The draft is said to urge regulators to strike any policies that might have contributed to banks dropping certain customers. The Small Business Administration is directed to review bank practices that guarantee the agency's loans. The directive also criticizes the role that some banks played in an investigation into the riots at the U.S. Capitol in Washington, D.C., on January 6, 2021, according to the newspaper. The draft reportedly states that violating lenders could be slapped with fines and consent decrees, among other disciplinary measures. While the order doesn't explicitly name any offenders, the Journal said it appears to refer to an instance where a Christian organization operating in Uganda had its accounts shut down by the Bank of America, citing religious beliefs. The bank contested that it does not serve small businesses operating outside the U.S. Conservatives have long accused banks of denying them services on the grounds of their political or religious beliefs. In January, Trump said the CEOs Bank of America and JPMorgan Chase – Brian Moynihan and Jamie Dimon respectively – did not provide banking services to conservatives. While speaking to Fox Business last week, Senate Banking Committee Chairman Tim Scott pointed fingers at regulators for shutting down bank accounts of Americans they 'just don't like.' Regulators operate under an 'alphabet soup' of federal agencies, sources told the news station, while Scott called the situation in D.C. a 'financial swamp.' Meanwhile, crypto firms have repeatedly complained they were denied access to banking services while former President Joe Biden was in office. Financial institutions have cited legal, regulatory and financial risks and blamed pressure from regulators for their previous decisions to largely avoid the cryptocurrency industry. A Bank of America spokesperson on Monday welcomed efforts to provide regulatory clarity. They told the Journal that the bank is committed to working with the Trump administration and supporting Congress to 'improve the regulatory framework.' In late April, the Justice Department said it was launching a task force in Virginia to 'combat illegal debanking.' The task force was set to review allegations of banks refusing customers access to credit or other services based on 'impermissible factors.'
