Newtek Business Services Inc., a New York-based payments company, says it has refinanced a $15 million line of credit with Capital One N.A.
The new deal replaces a line of credit Newtek had with General Electric Commercial Capital that matures May 31, Newtek says.
Newtek uses this financing primarily to lend money to small businesses through a U.S. Small Business Administration loan program.
The bipartisan legislation aimed at reducing barriers to new home construction, which included certain community bank riders, passed the lower chamber by a 358-32 vote.
Tech companies may be the biggest winners of a custodial deposit provision tucked away in a much-touted bipartisan housing bill set to become law this week.
New York State's attorney general has reached settlements with the two banks, which will pay a combined $90,000 in penalties in connection with alleged violations of rent stabilization laws.
The payment company is expanding the Afterpay buy now/pay later network and offering a Cash App mobile plan as it tries to draw consumers from legacy financial institutions and rival payment firms.
Senators from both parties criticized banks over overdraft fees, though populist Republicans and their more establishment conservative colleagues were split over whether blame for the problem lies with banks conduct or the consumers.
Insurance companies are increasingly shifting their assets into offshore vehicles, where they are being used for…what exactly? We don't know, and that's the problem.
