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Sens. Ed Markey and Ron Wyden argue that the Small Business Administration neglected to warn small firms of the risks of merchant cash advances and closed off a key "escape route" from the resulting debts.
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In a move seen to bolster his 2028 presidential run, California Governor Gavin Newsom named Rohit Chopra, the former director of the Consumer Financial Protection Bureau, to lead a new oversight agency; a Pine Bluff, Arkansas, bank employee was sentenced to 36 months in federal prison for bank theft; a Fairfax, Virginia, security administrator has been charged with allegedly stealing more than $6.6 million from his employer; and more in this week's banking news roundup.
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New Federal Reserve stats show most consumers carry and store paper money, even as digital payments become mainstream.
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The Mississippi lender's pending acquisition of OFB Bancshares, the parent company of One Florida Bank, offers an entry point into the fast-growing Orlando market.
3h ago -
At some banks, executives are overpromising results and putting tremendous pressure on tech teams, leading to a range of problems.
4h ago -
Fund managers are seeking to change the way banks think about Community Reinvestment Act investing.
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