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A program that lets firms bundle Small Business Administration loans is on hold while Congress spars over a new budget. The impasse is causing headaches for banks that rely on loan sales for fee income.

The automaker is reportedly planning to apply for a bank charter so it could collect deposits and grow its own auto-finance business. That could create more competition for Ally, which was spun off from GM in 2006 but remains a key lending partner.

As Morgan Stanley's bankers scattered from Manhattan's Times Square to their home offices during the pandemic, some asked: How are the coffee-cart vendors doing? The answer: terribly.

The bank will divvy up Owen's responsibilities among three other executives, including Kate Danella, who will become chief strategy and client experience officer.

Speaking at an investor conference, Bank of America's CEO said that additional aid is needed to help consumers, businesses, nonprofits and local governments ride out the pandemic.

Looking to ease contactless payments for cash wary consumers and businesses, PayPal has launched QR code payment acceptance in its iZettle point-of-sale application for small businesses in the U.K.

The bank will now let business customers receive and pay invoices from within online and mobile banking.

A defense spending package includes a measure requiring new businesses to report their beneficial owners directly to the Financial Crimes Enforcement Network, shifting the burden away from banks.

Amy Nigrelli will serve as CMO of the Albuquerque-based credit union, one of two recent personnel moves there.

The new service from the Boston-based asset manager comes at a time of soaring price increases for the world's most valuable digital asset.