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The consumer bureau said Approved Cash Advance improperly collected amounts that were five times higher the legitimate fee schedule disclosed to borrowers.
June 2
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The program is intended to aid businesses hit hard by pandemic-induced lockdowns, but lenders are lobbying to have the rules relaxed to help owners of stores and offices damaged by recent riots and looting.
June 2
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The changes being sought would benefit both small businesses and banks, which would avoid the cost of servicing many low-yielding loans.
June 2
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Members of both parties raised concerns that the requirements for participating in the Municipal Liquidity Facility and Main Street Lending Program are too restrictive to benefit smaller localities and certain midsize firms.
June 2
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Rodney Hood, the first African American to lead a banking agency, said in a deeply personal statement that he was "familiar with the anger and frustration that comes with the everyday challenges and realities surrounding race."
June 2
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As small businesses' cash flow tightens during the pandemic, Alibaba Group is enabling SMBs to postpone payments for 60 days on cross-border e-commerce purchases.
June 2
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American Express has added 26 Caribbean nations to the list of countries where it’s raised the ceiling on contactless transactions that may be conducted without PINs, to reduce consumers’ exposure to touching PIN pads.
June 2
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Avivah Litan, vice president and distinguished analyst at Gartner, explains the evolving role blockchain has taken during the coronavirus pandemic. Blockchain, originally developed for use with bitcoin, provides a way to bring trust and order to the chaos of the current crisis, but it's no silver bullet.
June 2
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The coronavirus pandemic has made paper money literally a dirty word, causing a rush to digital payments that may be too fast for Western Union and MoneyGram to keep up with as separate companies.
June 2
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DBS Bank India is offering a real-time digital payment service for truck drivers and supply chain companies that generally have round-the-clock operations and large transaction volume to cover employee expenses.
June 2
