Merchant

Rather than fueling uncertainty, the Consumer Financial Protection Bureau should be devising strategies that facilitate clearer policies that bring more certainty to lending markets.

Financial Business and Consumer Solutions disclosed a February breach in April and recently disclosed an expanded victim count. The company faces a class action lawsuit.

Retailers like Walmart, Target and Dollar General are changing the ways they collect payments in person. This, in turn, could influence payment habits, but it is unlikely to slow the overall momentum of digital transactions.

The beleaguered Los Angeles-based bank reported its strongest quarterly results in more than a year, but executives at its Canadian parent company cautioned that improvements may not be linear.

The Illinois state legislature, as part of an agreement with retailers to raise state tax revenue, passed a budget bill that would bar the collection of interchange fees on sales taxes, excise taxes and tips for transactions that would be subject to Illinois sales taxes.

Digital-first collection agencies such as TrueAccord, January and InDebted are analyzing consumer engagement signals and more to determine the most effective way for its clients to collect on debt.

While the $800 billion in PPP loans has largely self-liquidated through the forgiveness process, SBA continues to service the longer-duration EIDL portfolio and will likely be doing so for years to come after opting to hold on to the loans.

The bank is connecting billers and brokerage accounts as it builds the case for instant funding. It also points to countries such as Brazil and India as models to follow.

The small business lender's bankrupt shell has agreed to pay up to $120 million in connection with allegations that its verification processes for Paycheck Protection Program loan applications were faulty. The government argued that Kabbage reaped larger fees by enabling fraudulently inflated loans.

Regulation, credit quality and AI-fueled fraud are among the big concerns for banks and payment companies.