Fintech

The portfolio, which Bank of America has handled since 2015, has roughly $100 million in balances.

Borrowers expect the Federal Reserve to raise interest rates next year to contain soaring prices and are locking in favorable terms now, bankers say.

Locality Bank in Fort Lauderdale and Gulf Coast Business Bank in Fort Myers would be the seventh and eighth banks to open in Florida since 2017 — the most of any state in that span. Organizers relish the chance to start from scratch, but some observers lament the drop-off in de novos from the pre-crisis era.

Americans are looking for immediate ways to offset rising costs, rather than saving points for future travel. Cash rewards, which were already growing in popularity, are now even more coveted.

In a letter to the agency’s new director, top Senate Democrats recommended policy steps intended to limit mistakes in consumers’ credit files that they said “can ruin lives.”

KeyCorp, Zions and Capital One are among the companies making big moves in a sector that is growing fast and viewed as recession-proof.

U.S. consumers’ card debt, which fell sharply last year, has now climbed for two consecutive quarters. The upcoming holiday shopping season will signal how quickly borrowing will return to 2019 levels.

On Jun. 30, 2021. Dollars in thousands.

Despite some bumps in the early days of the Paycheck Protection Program, small businesses report that they had positive experiences with lenders. Savvy banks are channeling the good vibes to generate more revenue from a sector that has sometimes been overlooked.

Hispanic adults are underbanked compared with their white counterparts, according to the Federal Reserve. Challenger banks such as Tend and Viva First are reaching out to this population with bilingual services and low-cost money transfers.