Retail & Commercial

Klarna Bank is in talks to raise new equity at a valuation as low as $6 billion, a fraction of the $45.6 billion it commanded last summer as it became Europe’s most valuable startup, according to people with knowledge of the matter.

The Consumer Financial Protection Bureau ended special regulatory treatment of the financial services company’s earned wage access products. Payactiv says it requested the action after a disagreement with the agency.

The U.S. retail arm of Bank of Montreal plans to reduce the charge from $36 to $15, following the approach taken by M&T Bank and Huntington Bancshares.

Agencies supervising lenders should make it clear that the transition to less discriminatory algorithms won’t be used to punish banks for their previous use of older, less effective systems.

Workers Credit Union installed a life-size hologram of “Olivia” in specialized locations to offload some mundane customer service tasks. It’s also catching the attention of passersby.

The buy now/pay later startup Zilch has raised a further $50 million, upping the total raise for its Series C fundraising to $160 million as it plans bolster U.S. expansion plans. 

It took 100 years, but St. Landry Homestead Federal Savings Bank decided on a drastic name change — to Catalyst Bank — to end confusion with a local rival and signal its loftier aspirations.

The top five had a combined portfolio of nearly half a billion dollars.

Firms owned by people of color have suffered more over the last two years than those owned by whites, according to a survey by the Federal Reserve Banks. Asian American-owned firms reported the biggest increase in financial challenges.

In a new interpretative rule filed Tuesday, the agency gave states a green light to expand on federal laws that protect consumers from unfair treatment by credit reporting agencies.