Merchant

ValueAct Capital Management has amassed a stake in American Express Co., people with knowledge of the matter said, as the activist fund considers pursuing shareholder-friendly changes at the credit-card issuer.

WASHINGTON — Bankers are fighting back against a proposal by the Department of Education that would restrict how universities disburse federal student loan funds, calling it a "large-scale incursion" into the banking sector that goes beyond the department's statutory authority.

A New York City law designed to prevent collection law firms from engaging in abusive practices does not infringe on the state's authority to regulate the profession, according to a ruling this week.

Ultimately, First Data looks ready for a second public life. First Data is expected to bring about a turnaround after going public, giving KKR the opportunity to cash in on its investment.

Lending Club and Funding Circle are among the firms pledging to adhere to a range of self-imposed standards in small-business lending.

The New York Bankers Association is challenging the legality of a local law that is designed to cajole banks into making larger investments in poorer communities. The outcome could be an important precedent in relation to similar laws in other cities.

BB&T will dismiss most of a 21-person small business lending group who had been employed by Susquehanna Bancshares.

First Data and TruBeacon have been selected to provide point of sale technology and business-management software for Scooter's Coffee, an Omaha, Neb., chain.

Target is deploying Bluetooth beacons to offer time-sensitive deals and product recommendations to shoppers in its stores, and it has more ambitious plans for the technology later in the year.

Senate Democrats are accusing the Education Department of conducting a deeply flawed review of whether agency contractors cheated military service members on their federal student loans.