Weekly Global News Wrap Up: Why the race to lure UK banks post-Brexit is worrisome; Trump mulls over breaking up Wall Street banks

And can a 'bank in a box' replace a branch?

From Reuters: The European Central Bank is worried about a "race" among European Union countries to ease supervisory standards in order to attract UK banks seeking access to the market after Britain leaves the EU, its top watchdog said. "Incoming banks might exploit these differences and trigger a race to the bottom in terms of supervision," Daniele Nouy, the head of the ECB's supervisory arm, said on Tuesday.

From Bloomberg: President Donald Trump said he’s actively considering a breakup of giant Wall Street banks, giving a push to efforts to revive a Depression-era law separating consumer and investment banking. “I’m looking at that right now,” Trump said of breaking up banks in a 30-minute Oval Office interview with Bloomberg News. “There’s some people that want to go back to the old system, right? So we’re going to look at that.”

From BBC: Watch a queue of shoppers for a minute and they will be preparing to pay in very different ways. Some will pull out a debit or credit card ready to put in a reader. Others might use their smartphone to complete their purchase, the rest will be paying in cash. The group using notes and coins is still significant but their numbers are starting to dwindle, particularly among the young.