Merchant

The Minneapolis bank has launched a special-purpose credit program that aims to help businesses owned by women, minorities and veterans. Borrowers with comparatively low credit scores and cash flows will qualify for lending products of up to $2.5 million.

The Pacific Northwest bank didn't reveal exactly how much more it expects to save. But executives said that they expect to achieve their earlier target sooner than they previously anticipated.

Rep. Roger Williams, chairman of the House Small Business Committee, says Small Business Administration is considering allowing borrowers to self-certify eligibility for loans, a step some believe could lead to more fraud. The agency declined to say whether that is one of the changes it's considering.

Nexway, based in France, allegedly processed payments in its own name on behalf of a tech support scam and telemarketing company from 2016 to 2020.

Texas National Bank in Mercedes, Texas, is testing how alternative data can improve the speed and accuracy with which it lends to its small-business customers.

Alphv developers claimed responsibility for an attack that started last week against the payments and digital banking software maker. The ransomware is more sophisticated than many of its peers.

Headcount at the nation's second-largest bank has fallen by around 1,000 since the end of last month. More job reductions are in the works after noninterest expenses rose by 6% during the first quarter.

Supermarket chain Kroger refused to accept Apple Pay and similar options in stores for nine years. It's changed its mind — but Walmart, Home Depot and Lowe's remain holdouts.

The Connecticut bank joins Zions Bank and Leader Bank in recent upgrades to the technology they use to serve this market – and hopefully snag customers who fled Silicon Valley Bank after its failure.

Billions were lost to fraud during PPP. Now, prosecutors are increasing efforts to recoup taxpayer money, leaving lenders worried they could be put under the microscope next.