Merchant

The average size of a Small Business Administration 7(a) loan has fallen to just over $400,000, a level last reached in 2017, according to agency statistics.

California's Department of Financial Protection and Innovation is requiring registration by mid-February of debt settlement firms, earned wage access providers, private secondary education financing and student debt relief services.

The card lender took full control of Swisscard from UBS; the Financial Conduct Authority is bringing installment lending regulations in line with other consumer financial products; and more payments news from around the world.

President Joe Biden called on Congress to return to Washington to make sure Small Business Administration loans don't run out after Hurricanes Milton and Helene devastated large swaths of the Southeast.

Interchange reductions for small Canadian businesses join global efforts to curb swipe fees, prompting Visa and Mastercard to diversify

Federal Deposit Insurance Corp. Chair Martin Gruenberg said an FDIC study proves relationship-driven lending practices remain crucial to small-business lending and economic stability, despite technological advancements in the banking industry.

Democratic Gov. Gavin Newsom signed measures designed to bolster consumer protection rules. The bills target several issues that have also been percolating at the federal level.

The BNPL industry is growing at a fast clip. Australia-based Zip's new CEO for U.S. operations is looking to carve out a place in what is becoming a crowded industry with expanded merchant partnerships and a Pay-in-8 product.

The bank's acquisition of embedded finance firm Rize Money and collaboration with open banking firm Trustly will enable the bank to grow real-time processing, account-to-account transfers and address emerging compliance challenges.

Executives from JPMorgan Chase, TD, U.S. Bank, M&T and other banks will gather to discuss how they serve small-business clients, what those customers want now and what they expect in 2025 and beyond.