SBA’s strict new immigration rules draw a backlash
A Small Business Administration policy enacted during the second Trump administration blocks not only people who are in the country illegally, but also legal temporary residents and even some U.S. citizens, from accessing government-guaranteed loans.
Axos makes first deal since 2019, acquiring specialty lender
The deal will give the bank $1.1 billion of loans in a new segment of the equipment finance business.
Supreme Court to hear case on regulatory independence
The Supreme Court will hear a case in December that could overturn a longstanding precedent finding independent regulators constitutional. Should the court strike down that precedent, it would have major implications for the independence of the Federal Reserve.
Fed Gov. Miran makes the case for much lower interest rates
Federal Reserve Governor Stephan Miran floated the idea of conducting monetary policy with an eye toward the neutral rate and suggested that the president’s immigration and fiscal policies will exert downward pressure on inflation.
Capital One settles lawsuit over influencers’ commissions
The credit card giant has reached an agreement to settle a class-action lawsuit involving its coupon-finding browser extension. Content creators had accused Capital One of stealing their sales commissions.
Global Payments expands its checkout revamp
The company is selling its Genius platform to large restaurant and entertainment companies in an attempt to counter the wave of improvements from its rivals.
What does the OCC think ‘debanking’ has to do with the CRA?
The agency’s announcement that it will consider debanking as part of Community Reinvestment Act examinations is the latest in a series of mystifying pivots by federal banking regulators.
Fed’s Musalem sidesteps Fed independence question
Federal Reserve Bank of St. Louis President Alberto G. Musalem would not directly say whether central bank independence is under threat, instead highlighting that the topic has received more attention.
Investors flock to new fintech for bank stablecoins
Stablecore, a recently founded fintech, completed its first funding round with the goal of bringing stablecoin technology to banks and credit unions.
Who’s really buying community banks — and why the full story matters
A credit union CEO takes issue with the narrative that the purchase of community banks by credit unions is a dangerous trend. In fact, he argues, it’s rare, and when it happens, it benefits the communities those banks serve.