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The California company acquired Civic Financial Services, which makes loans to residential real estate investors.
February 3 -
The country’s financial regulator says many people who take out “buy now, pay later” deals don’t view them as loans; Navient ordered to repay $22 million it overcharged the government.
February 3 -
The project is part of the card network's push to showcase its tech expertise while also working to shrink the wealth gap in Black communities.
February 3
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Any business loan growth the industry sees this year will be closely tied to mass vaccination efforts and a broader economic recovery, meaning it may take until at least the third quarter for pent-up demand to translate into new opportunities.
February 3
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Senate Majority Leader Chuck Schumer is calling for federal legalization of cannabis. This should be welcome news to niche payment processors already in the business, but it would also reward big players waiting on the sidelines.
February 3
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Moves to protect competition will help fintechs and push innovation, says AppBrilliance's C. Eric Smith.
February 3
AppBrilliance -
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Some big banks trimmed their stockpiles that guard against loan losses in the fourth quarter, but overall allowances fell less than many observers predicted. The trend will likely continue given uncertainties surrounding vaccine distribution and the economy.
February 2
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The Maryland-based credit union has promoted Chief Operating Officer Tonia Niedzialkowski to president of the organization with an eye toward eventually naming her CEO.
February 2
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The number of Paycheck Protection Program loans to U.S. small businesses more than doubled in the third week of the latest round of pandemic relief aid, as Bank of America and JPMorgan Chase each processed more than $1 billion in funding.
February 2
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Democrats Raphael Warnock and Jon Ossoff, who won runoff elections to flip party control of the Senate, were assigned to sit on the panel for the 117th Congress.
February 2
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Gemini Trust now offers a credit card and an uninsured savings account for bitcoin holders that pays 7.4% interest. It is the latest example of a cryptocurrency company marketing banklike products.
February 2
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Long hours by bankers and the streamlined resolution of Paycheck Protection Program loans helped lenders collect more fees than anticipated in the fourth quarter. It was a rare bright spot at a time when revenue is being pinched.
February 2
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Chairman and CEO Phillip Green said the decision to lay off 68 employees was "really the last thing" the San Antonio company wanted to do as it wrestles with low interest rates and challenges tied to the coronavirus pandemic.
February 2 -
illionaire Jack Ma’s Ant Group delivered about $2.3 billion in profit in the quarter right before Chinese regulators brought down the hammer on the financial technology giant’s record public offering and ordered it to scale back its sprawling business.
February 2
