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Since the end of the Small Business Administration's 2022 fiscal year, the average loan size in its flagship program has dropped more than six figures. The addition of three new nondepository lenders could further drive down this figure.

Small Business Administration lending is an arena where community banks and nonbanks compete favorably with some of the largest U.S. financial institutions. Here are the biggest SBA 7(a) lenders based on the value of approved loans.

At first blush, the deal might provide evidence that the bank doesn't shun the oil and gas industry as the label suggests. In fact, Bank of America has been named by environmental groups as one of the biggest financiers of fossil fuels in the world.

A recent effort by Citigroup to nudge certain customers toward digital-only statements was well intended but too punitive, observers say. The key, they argue, for banks seeking to cut costs or achieve other goals is to offer incentives to those with ingrained habits.

The Consumer Financial Protection Bureau, Federal Reserve and other banking regulators rolled out their annual adjustments for the thresholds that determine whether activities are eligible for enhanced standards.

Last month, his office started a review of whether 10 financial companies, including Bank of America Corp. and JPMorgan Chase & Co., violate a state law passed in 2021 that punishes firms for limiting work with the oil and gas industry because of environmental concerns.

Senate Banking Committee ranking member Tim Scott, R-S.C., released one of his first major public  bank policy pushes in months after formally suspending his presidential campaign.

After disappointing polling and an inability to break through in a crowded primary race dominated by former president Donald Trump, Senate Banking Committee ranking member Tim Scott, R-S.C., said he is suspending his campaign.

For decades, farmers have relied on futures contracts to hedge their risk. The proposed new capital rules will make it more expensive for them to continue with this vital function.

The bank is adding fintech-style buy now/pay later lending to other recent payment upgrades at its merchant acquiring unit.