Program to spur investments in small business gains momentum
The federal Small Business Investment Company program has seen a spike in interest since a new rule incentivizing support for early stage companies took effect in 2023. Now there is growing political support for ways to further bolster the program.
CFPB will rewrite small-business lending rule
The Consumer Financial Protection Bureau said in a court filing that it will repropose a rule requiring lenders to report small-business loan data, citing legal challenges.
Rise of ‘shadow AI’ presents dilemmas for tech leaders
Employees are using ChatGPT without telling their managers and the IT team. That’s not necessarily a bad thing.
Fiserv hopes Clover’s success can export to Australia
The bank technology is launching its signature payment platform in a country where rivals like Square and PayPal are also actively chasing business payments.
Senate Banking advances OCC, Treasury nominations
Jonathan Gould, President Donald Trump’s pick to lead the Office of the Comptroller of the Currency, passed through the Senate Banking Committee on a party-line 13-11 vote.
BlackRock’s evolution on ESG is a rational response to market forces
The world’s largest asset manager has recognized that investing in organizations that champion environmental, social and governance issues is not an inherent good. This shows that market forces are reasserting themselves.
Evolve Bank settles for $11.9 million over 2024 data breach
Individual victims of the data breach could get up to $3,000, but most will see around $20, possibly less. The breach also affected fintech partners.
Kansas bank strikes deal to expand into Oklahoma City
Equity Bancshares said it would pay nearly $87 million in cash and stock to acquire NBC Corp. of Oklahoma. If it closes, the deal will be Equity’s 13th bank acquisition since 2015.
80% of Wall Street firms are splurging on AI: Broadridge
Financial services executives report seeing an increase in quantifiable value from AI investments in the fifth annual Broadridge survey.
Tariffs put Fed in tough spot, raise growth and price fears
An aggressive suite of tariffs from President Trump will complicate the Federal Reserve’s job as it struggles to quash inflation and avoid an economic downturn.