WASHINGTON — The senators who signed the letter on interchange reform that was sent to the Federal Reserve were: Republicans Richard Shelby of Alabama (who is also the ranking member of the Senate Banking Committee), Mike Crapo of Idaho, David Vitter of Louisiana, Pat Roberts of Kansas, Bob Corker of Tennessee and outgoing Judd Gregg of New Hampshire, Robert Bennett of Utah and Sam Brownback of Kansas, as well as Democrats Jon Tester of Montana, Mark Warner of Virginia, Christopher Coons of Delaware, Tom Carper of Delaware, and outgoing Evan Bayh of Indiana.
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A bottleneck at the Small Business Administration in clearing federal small business loans because of the ongoing federal government shutdown is becoming an increasingly urgent issue for small and even some midsized banks.
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BayFirst Financial, which has reported problems with SBA loans, expects to reach an agreement with its regulators in connection with credit administration and other issues.
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A report from J.D. Power indicates that the neobank Chime gained the highest percentage of newly opened checking accounts in the third quarter of 2025.
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The court upheld the Federal Reserve Board's right to block Custodia from direct access to its payment systems. The bank is considering asking for a rehearing.
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The Tacoma, Washington-based bank, which has completed two mergers since 2023, said Thursday that it will buy back up to $700 million of its own shares over the next year.
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