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 federal banking regulator issued conditional approvals for national trust bank charters for Bastion Platforms, Agora and Catena Labs on the same day.
The Federal Reserve's vice chair outlined the ongoing modernization efforts for the central bank's lending facility of last resort, including coordination with the Federal Home Loan Banks.
As AI agents become more collaborative, creative and fast, banks need to defend themselves.
A new bill introduced by Sen. Katie Britt, R-Ala., would boost efforts to index bank regulatory thresholds in the Senate Banking Committee, where most of the focus to date has been on stablecoin and crypto.
BCB Bancorp says red ink may top $130 million in the third quarter, as its new CEO moves to address credit-quality issues.
