The bank has issued credit to Slope, a firm offering a form of B2B installment loan. The product is becoming more popular as small companies face mounting financial challenges.

Interest rate increases by central banks have compounding effects and could exacerbate weaknesses in the global financial system, Federal Reserve Vice Chair Lael Brainard argued in a speech Friday.

The Consumer Financial Protection Bureau has accused the challenger bank, which charges customers a monthly membership fee, of violating the Military Lending Act and other consumer protection laws. MoneyLion says the allegations are baseless, but some analysts said the consumer bureau appears to have strong claims.

The company said a national search ended in its backyard with the hiring of Wisconsin veteran banker Tim Schneider, the former CEO and co-founder of Investors Community Bank.

Hello Alice's small-business self-help platform amassed 1 million users by offering grants, recommendations and skills-building courses. With a pair of new credit cards, the startup aims to reward users for expanding their knowledge.

The report, which examined trends between 2010 and 2021, found that the country's biggest banks only opened 638 branches in low-to-moderate-income communities made up primarily of people of color. That accounts for just 15% of their total branch openings.