The startup, which emerged from Y Combinator in 2023, has deployed its software at a long list of community banks and fintechs, including Grasshopper Bank and First Internet Bank.

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.

The House of Representatives passed a joint resolution to nullify the rule finalized by the agency last and prohibiting it from implementing similar reforms in the future. It will now go to the president's desk for his signature.

As the Federal Deposit Insurance Corp.'s Deposit Insurance Fund inches toward replenishment, acting Chair Travis Hill suggested that banks should be assessed on a range of metrics rather than insured deposits alone.

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

Months after OceanFirst Financial settled federal redlining allegations, it received the highest possible Community Reinvestment Act rating from the Office of the Comptroller of the Currency. CEO Christopher Maher said the bank made a "significant effort" to introduce its lending products to markets it had recently entered via acquisition.