Dems say SBA left businesses vulnerable to ‘predatory’ financing
Sens. Ed Markey and Ron Wyden argue that the Small Business Administration neglected to warn small firms of the risks of merchant cash advances and closed off a key “escape route” from the resulting debts.
Newsom taps Chopra to lead new California oversight agency
In a move seen to bolster his 2028 presidential run, California Governor Gavin Newsom named Rohit Chopra, the former director of the Consumer Financial Protection Bureau, to lead a new oversight agency; a Pine Bluff, Arkansas, bank employee was sentenced to 36 months in federal prison for bank theft; a Fairfax, Virginia, security administrator has […]
The rumor of cash’s death is greatly exaggerated
New Federal Reserve stats show most consumers carry and store paper money, even as digital payments become mainstream.
Hancock Whitney inks deal to buy Orlando community bank
The Mississippi lender’s pending acquisition of OFB Bancshares, the parent company of One Florida Bank, offers an entry point into the fast-growing Orlando market.
Pressure, FOMO: Some big banks are rolling AI out too fast
At some banks, executives are overpromising results and putting tremendous pressure on tech teams, leading to a range of problems.
More banks tap outside professionals for help with CRA investing
Fund managers are seeking to change the way banks think about Community Reinvestment Act investing.
Why Pioneer Federal Credit Union is adding earned wage access
As short-term liquidity products gain popularity with consumers, credit unions are looking for new ways to keep their members from looking elsewhere.
Why are huge debit card issuers still paying Visa to route payments?
Given new government rules on payment processing, giants like Bank of America, Chase and Wells Fargo would benefit immensely from acquiring proprietary debit card networks. Why they haven’t done so already is a mystery.
How Columbia Bank kept a breach quiet for 119 days
Columbia caught the attacker still inside its systems on Dec. 19, three days before the access window closed, then took four months to notify customers.
Why Citi, Citizens are betting on their existing branches
Unlike several other large banks, neither Citi nor Citizens Financial Group is interested in expanding their retail branch presence beyond their existing footprints. Both say they see plenty of growth opportunities in those markets.