Merchant

Similar to a law passed two years ago in California, legislation headed to the New York governor’s desk would require fintech and other nonbank lenders to uniformly disclose total cost of capital, APR and other metrics to potential borrowers.

A new Small Business Administration notice explains what steps lenders must take to seek approval of their forgiveness decisions under the Paycheck Protection Program. But lenders say lawmakers and regulators must do more to cut red tape.

The legislation, which has yet to pass the House, is meant to ensure coronavirus relief funds go to consumers and are not diverted to debt collectors.

With the coronavirus pandemic intensifying and hopes for a quick economic recovery fading, banks large and small are reducing headcounts, shuttering branches, shedding office space and generally trying to trim expenses wherever they can.

British Airways owner IAG SA renewed an air-miles deal with credit-card giant American Express Co., swelling the group’s coffers as the coronavirus crisis weighs on travel demand.

A new study from WalletHub finds nealry 40% of parents are planning to spend less in advance of the upcoming academic year.

Installment payments are gaining mainstream appeal as an alternative to traditional credit products, prompting Affirm to boost its visibility in an increasingly crowded market.

Vending machines for years have been gradually shifting to contactless payments, but coronavirus has sparked changes in the machines’ core technology to enable hygienic use with social distancing.

The Federal Financial Institutions Examination Council is best suited to craft uniform policies to protect consumer data. A patchwork of state rules is cumbersome.

Now is the best time for SMBs to adapt before the major influx of traffic that will come when businesses are allowed to fully reopen, says Fattmerchant's Suneera Madhani.