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The small business lender's bankrupt shell has agreed to pay up to $120 million in connection with allegations that its verification processes for Paycheck Protection Program loan applications were faulty. The government argued that Kabbage reaped larger fees by enabling fraudulently inflated loans.

Stearns Bank in Saint Cloud is working with the on-demand payment technology firm Reset to launch an earned-wage card for blue collar and immigrant families struggling with access to money.

Community Financial Development Institutions' mission-driven lending has traditionally been a small segment of the lending market. That's beginning to change, but plugging into secondary lending markets might not be the kind of change communities need.

Executives also say funding pressures have begun to ease, though high interest rates and deposit costs remain a leading worry, according to new surveys.

Regulation, credit quality and AI-fueled fraud are among the big concerns for banks and payment companies.

Part of the Consumer Financial Protection Bureau's mandate is to educate consumers by providing reliable information. With its credit card late fee "report" and the associated rulemaking, it has failed to live up to that responsibility.

A federal judge has granted a preliminary injunction against the Consumer Financial Protection Bureau's credit card late fee rule, pausing it from being implemented days before it was meant to go live.

The fintech topped American Banker's annual list this year. CEO Dave Buerger attributed the company's hands-off management style as one reason that draws in and keeps workers around.

The core provider's new CEO, Stephanie Ferris, vowed to refocus on banks as FIS reboots after selling off Worldpay.

Quaint Oak Bancorp sold its majority stake in an equipment lender less than two years after the partnership helped drive record profits at the Southampton-based company.