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Zigas is an advisory committee member of the Coalition for FHLB Reform. He is a former president of the National Low Income Housing Coalition, and former senior vice president for community lending at Fannie Mae. He is principal at Zigas & Associates LLC and senior fellow at the Consumer Federation of America.

Many banks, especially smaller ones, will have to rethink how they lend to small businesses and automate manual processes.

Here's what's happening around the world

The resolution to nullify the CFPB's small-business data rule, which would require lenders to collect demographic information before making loans to small-businesses, passed in both chambers with some bipartisan support.

Meritrust Credit Union in Wichita is giving $400 to each of its 370 employees to start or grow a rainy day fund.

The Bank Term Funding Program, set up in response to this spring's run of bank failures, is poised to close down in March. With the Federal Reserve now forecasting rate cuts next year, the bar for renewing the facility's authorization could be a bit higher.

Donny is the founder and managing director of IntrapriseTechKnowlogies LLC, an advisory-focused CPA firm providing innovation acceleration and business transformation services for small businesses, middle market organizations, and nonprofits. He is a recognized thought leader and educator in the accounting technology, IT risk management, and performance management areas. His dedication to helping accountants and organizations strategically leverage technology while proactively managing their business and technical risk is paramount.

He is also the inspiration architect for the Center for Accounting Transformation, a mind trust of innovative thinkers and experts who help enable transformation by guiding accountants, auditors, and tax practitioners through the adoption and changes required in order to step into the future of the accounting profession. It's research-enabled courses, coaching, and competency development accelerate business transformation to #improvethworld.

States need to think twice about allowing earned wage advance programs. They look increasingly like predatory lending.

The first credit unions enrolled in the Federal Reserve's FedNow instant payments platform say it will fundamentally change the way they serve consumers and businesses across multiple categories.

The top risk executives at U.S. banks are still weighing the fallout from the failures earlier this year and are considering ways they can better handle risks tied to their treasury and asset-liability management.