PYMNTS

NOVEMBER 29, 2020

Facebook 's digital currency, Libra , could launch by January, but in a "limited format," according to officials, as reported by Financial Times (FT). Libra, which has been in the works for over a year, initially planned to roll out one synthetic coin backed by a multitude of currencies. Then the plan had to be downgraded in April, when regulators' concerns forced a shift to a plan to launch digital versions of several coins plus a "digital composite" of all Libra coins.

84

84

PYMNTS

NOVEMBER 29, 2020

President-elect Joe Biden is weighing naming two of the highest-ranking Black leaders in finance to top roles in his administration — TIAA CEO Roger Ferguson to direct the National Economic Council and former American Express CEO Kenneth Chenault to a senior economic post, CNBC reported, citing unnamed sources. Ferguson already has said he is stepping down from his position running TIAA, the big investment firm with historic ties to employees in the higher education and medical fields.

Government 67

Government Education Finance 67

PYMNTS

NOVEMBER 29, 2020

The loan payment relief required by the federal CARES Act in response to household income disruption caused by the pandemic has produced mixed results, The Wall Street Journal (WSJ) reported. Borrowers who held the type of debt covered by the law — home mortgages and student loans — were able to skip payments without penalties or damage to their credit ratings, WSJ reported.

New York 60

New York Education Government 60

PYMNTS

NOVEMBER 29, 2020

Some U.S. chefs and industry advocates fear new rules to stem the spread of COVID-19 could be the final straw, the Financial Times (FT) reported. Some of the country's highest-profile chefs said they expect to see a wave of failures, according to FT. "It's becoming very stressful," Chef Daniel Boulud of Manhattan's Daniel restaurant said, FT reported.

Sales 53

Sales 53

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