Merchant

The institution's Impressia Bank will be dedicated to the professional and financial advancement of women business owners and entrepreneurs.

Goldman Sachs Group aims to cut at least a few hundred more jobs as the Wall Street titan restructures its struggling consumer business and braces for an uncertain economy in the year ahead.

Citing a congressional report, SBA says it will investigate PPP operations at several fintechs, community banks and other participants. The review raises questions about plans to open up the agency's flagship loan-guarantee program to more nonbanks.

New York and California are among the states that have laws requiring lenders to make certain disclosures to small-business borrowers. The Consumer Financial Protection Bureau has reached a preliminary determination that a federal statute does not preempt those state laws.

Plaid said it cut 260 staffers Wednesday after changing macroeconomic conditions forced it to rein in costs.

With the final piece of its regulatory puzzle in place, Newtek, a business development company and the nation's No. 3 SBA 7(a) lender, plans to complete its acquisition of National Bank of New York City in January.

Banking companies are increasingly using application programming interfaces that transfer customer information to third-party money-management apps popular with consumers. But fraudsters are exploiting vulnerabilities in the technology to steal information.

The Canadian banking giant reached a five-year deal with community groups that includes $40 billion in investments to underserved groups. BMO aims to close its acquisition of San Francisco-based Bank of the West before the end of the year.

Entrepreneurs often call fees a drawback of their current financial institution, according to research from Arizent. Banks should focus on developing long-term relationships with these customers, rather than charging for every service, experts say.

Fidelity National Information Services plans to dismiss thousands of workers as part of incoming Chief Executive Stephanie Ferris's strategy to win back investor confidence after the fintech giant slumped 44% this year.