Merchant

With stimulus money running out and forbearances set to expire, consumer spending is bound to shrink. That's bad news for business owners and their landlords, the Pittsburgh bank's CEO says.

The Paycheck Protection Program propped up many banks' balance sheets in the first half of the year, but what will drive loan demand in the second half?

PayPal has launched a new online installment lending product in France geared to serving small and medium-sized businesses.

The extension to Aug. 8 was offered by Sen. Ben Cardin, a Maryland Democrat, and cleared the chamber by unanimous consent. The House has yet to take up the bill but could pass it as soon as Tuesday night.

Lenders are selling their Paycheck Protection Program loans or hiring outside companies to navigate the process in an effort to reduce risk and avoid overloading their employees.

The company said it had cut 20 positions and found a way to shed 35,000 square feet of office space by the end of 2020.

The agency wants more timely information on the banks it supervises; investors filed a criminal complaint against Ernst & Young, calling their work “a disaster” for failing to expose the scandal.

Amex is offering cash rewards on a global scale for customers who shop at small businesses that are trying to recover from coronavirus lockdowns. The card brand also pledged $10 million to support Black-owned small businesses over the next four years.

With more employees than ever working from home due to the coronavirus, credit unions' networks may be less secure than usual. But purchasing cyber insurance to help cover the costs if a breach occurs isn't as clear cut as it may seem.

Even the independent sales organizations that heeded the warnings of colleagues and experts for the past decade about not letting advancing payments technology pass them by weren't fully prepared for what the coronavirus pandemic would throw at them.