Retail & Commercial

The Small Business Administration must be prepared to effectively oversee any new lenders it allows in its flagship 7(a) loan guarantee program to guard against fraud and other risks, Democrats and Republicans on the Senate Small Business Committee warned.

The app, Magnusmode, includes illustrated instructions for depositing a check, using an ATM and more. M&T Bank was its first U.S. bank partner.

Mitsubishi UFJ Financial Group is in talks to invest about $200 million in Akulaku, an Indonesian online lender backed by Jack Ma's Ant Group, according to people familiar with the matter.

The acquisition of Malvern Bancorp in Pennsylvania would provide added heft in suburban Philadelphia markets. It is easily First Bank's largest-ever M&A deal.

HSBC Holdings will no longer finance new oil and gas fields or related infrastructure in a move that climate activists say puts it ahead of many peers in addressing global warming.

Remote deposit capabilities have vastly improved banking services for residents of villages in western Alaska. But unreliable service means some face difficulties when trying to access their banking apps or make payments.

Micron's planned semiconductor chip factory near Syracuse along with IBM's expansion project in the Hudson Valley could inject as much as $120 billion into markets inside the footprint of the combined NBT Bancorp and Salisbury Bancorp. NBT CEO John Watt calls the economic investments a "transformational opportunity" for the region.

Regulators are chastising banks for compliance lapses among their fintech partners. But some say the software companies that connect them share some responsibility.

By March 1, financial institutions that are exempt from federal reporting requirements must provide information to state regulators about how much revenue they collect from overdraft fees.

The institution's Impressia Bank will be dedicated to the professional and financial advancement of women business owners and entrepreneurs.