Good morning. Six U.S. state regulators have fined the U.S. subsidiary of British payment company Wise over inadequacies in its anti-money-laundering program.

New York-based Wise U.S. agreed to pay a total of $4.2 million to settle the enforcement actions brought by regulators in California, Massachusetts, Minnesota, Nebraska, New York and Texas.

• Joint action: The joint enforcement action, announced Wednesday, followed a routine multistate regulatory examination last year of Wise’s activities between 2022 and 2023. The regulators found Wise failed to comply with federal and state-specific regulations, such as having an independent review of its anti-money-laundering program at a frequency commensurate with its business volume. Wise also failed to have a process for investigating and reporting suspicious activity, according to the regulators.
   
• Wise’s response: Wise didn’t admit any wrongdoing in the case and said it took seriously its responsibility to provide a safe and secure environment for its customers.
   
• Previous regulatory issue: In January, the Consumer Financial Protection Bureau fined Wise a total of $2.5 million after alleging the company misled customers about its ATM fees and failed to disclose other fees and exchange rates. The agency in May reduced the fine to less than $500,000.

U.K. housebuilders agree to pay $136 million following probe.

The U.K. antitrust regulator said seven housebuilders, including Persimmon, Berkeley and Taylor Wimpey, agreed to pay 100 million pounds ($135.9 million) to affordable-housing programs following an investigation into anticompetitive practices.

The Competition and Markets Authority launched an investigation last year into whether the housing developers had exchanged details about sales including pricing, property viewings and incentives offered to buyers.

• The Bank of England fined Mastercard’s Vocalink 11.9 million pounds ($16.2 million) for risk management and governance failures, the first time it has fined a financial market infrastructure firm.
   
• The chief executive officer of stadium developer Oak View Group was charged with conspiring with a rival to rig the process for constructing a new arena in Texas, authorities said Wednesday.
   
• Tesla’s board of directors faces a looming deadline to schedule its annual shareholder meeting.

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The approach appears to be faltering. Trump, critical of continued Russian airstrikes, says he plans to resume arms shipments to Kyiv. He is considering sending an additional Patriot air-defense system to Ukraine, The Wall Street Journal reported on Tuesday.

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• U.S. port operators are warning that the cost of critical upgrades would balloon by tens of millions of dollars if the Trump administration moves forward with proposed new tariffs on port equipment.
   
• As President Trump met Wednesday with the leaders of five West African countries, his administration was pushing them to accept migrants deported by the U.S. whose home countries refuse them or are slow to take them back, according to an internal document and current and former U.S. officials.
   
• The U.S. has sanctioned nearly two dozen entities allegedly involved in providing “shadow banking” services to facilitate Iran’s oil sales, as the Trump administration presses its campaign to starve Tehran of petroleum revenue.
   
• The U.S. will charge a 50% tariff on Brazilian goods starting Aug. 1, President Trump announced in a letter to the Brazilian government on Wednesday—the highest level announced in his flurry of communiques to foreign leaders so far this week.

• Linda Yaccarino said she is stepping down as chief executive of X, capping a tumultuous run atop Elon Musk’s social-media company.
   
• The Trump administration attacked Harvard University’s accreditation, saying the school has violated federal discrimination law and may no longer meet accreditation standards.

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