The hiring comes roughly a month after Ida Liu resigned and the firm embarked on a regional restructuring.

Changes are needed to shore up the agency's finances and guarantee the integrity of its flagship 7(a) lending program, according to a leading trade group.

The company's cards will combine with the Alipay digital wallet, enabling foreign travelers to use local currency while reducing fees and processing steps. That and more in the American Banker global payments roundup.

Earned wage access is shaping up to be the most divisive financial product in decades as industry trade groups and consumer advocates spar over whether EWA should be classified as credit in order to protect consumers. Is there a middle ground?

The lack of government clarity on stablecoins has prevented traditional financial institutions like large banks from entering the space.

The bank is partnering with the fraud protection platform to offer tools to help clients — especially older adults — avoid scams and financial mistakes.