Merchant

The central bank will increase support for credit issued through the Main Street Lending Program while providing midsize firms with more flexibility on the amounts they receive.

The Credit Union National Association filed the class action suit in 2017 after roughly 147 million people had personal information exposed through a hack of the credit reporting agency.

Restaurants and retailers which saw their physical outlets closed down by the coronavirus pandemic have been scrambling to stay in business with the help of omnichannel retail software vendors.

Lenders have a role to play in the national reconciliation that must follow the recent racial unrest — providing greater access to capital for African Americans and other underserved groups so they can build wealth, activists said at a panel discussion hosted by Berkshire Bank in Boston.

As part of its commitment, the Minneapolis company said it will provide $100 million in capital to African American owned and operated businesses and organizations.

Bankers said legislative fixes to the small-business rescue program should help more borrowers secure loan forgiveness, though new demand will likely remain tepid because the process is still extremely cumbersome.

The race to provide coronavirus relief for small businesses is opening new routes to fund payments, including underused credit lines.

Past is not prologue, and a successful strategy for becoming a top-performing bank in 2020 is very different from what it might have been just six months ago.

As merchants are challenged to adapt their business just to survive, and consumers push for greater control over where and how they spend, the payments industry is in a position to align the various needs, says Splitit's Brad Paterson.

Bankers have become more uncertain about how to serve marijuana businesses owing to confusion about which states deem them essential.