Merchant

The Small Business Administration is implementing a freeze on new Community Advantage lenders, citing a surge in problem loans. The program grew during the previous administration as part of a push to expand the access that entrepreneurs who are members of disadvantaged groups have to capital.

Prepaid cards are finding new use cases in the hospitality industry, where tip disbursements have traditionally been cumbersome.

Federal Reserve Gov. Michael Barr said tariffs could have an outsize impact on small businesses and hardships could outlive the trade policy debate.

The crypto trading platform said the hackers bribed contractors or employees outside the U.S. to steal sensitive customer data and then demanded a $20 million ransom.

The Consumer Financial Protection Bureau will not enforce or supervise the 1071 small business lending rule, it announced in a press release. The rule requires collecting data on the race, ethnicity, gender and LGBTQ status of loan applicants.

The Small Business Administration is backing new legislation that would double the size limit on its manufacturing loans. Supporters say the bill has support on both sides of the aisle in Washington.

Even with its IPO on ice, the Swedish buy now/pay later lender is building a base of high-profile distribution partners.

Sen. Dick Durbin, the Senate's No. 2 Democrat, announced he will not seek reelection in 2026, concluding more than four decades in Congress. The Illinois lawmaker leaves behind a notable imprint on U.S. financial policy, particularly regarding swipe fees.

The growth of digital payments, coupled with the U.S.'s new open banking framework, may finally move the needle for an alternative form of credit decisioning.

Bad actors use generative AI to create automated threats that are more sophisticated than earlier generations of malicious bots, and they are going after banks' APIs.