Protests launched around the country this week in response to systemic racism and police brutality. Many fintechs rallied for social justice on Twitter, but their offline actions were a mixed bag. Varo Money, meanwhile, raised a $241 million Series D and inched closer to becoming a bank, which it hopes to accomplish by the summer. Bank Innovation also took a look at the Financial Data Exchange and its mission to spread API-based data sharing. The consortium, which includes big names like JPMorgan Chase and Plaid, said it has moved 12 million end consumers to API-based data sharing since its 2018 launch.

Find this and more in today’s edition of The Weekly Wrap, featuring JJ Hornblass, Bianca Chan and Rick Morgan, for the week ending June 5, 2020.