Retail & Commercial

More lenders and governments should partner with community development financial institutions to ensure aid reaches minority-owned businesses that are the backbone of many neighborhoods slammed by the coronavirus.

The deal will expand the credit union's brick-and-mortar footprint to more than 30 locations across Illinois and California.

HSBC's management is looking at a complete withdrawal from its retail operations in the U.S., although a full exit from other businesses in the country is unlikely, according to a person familiar with the matter.

Community banks that were pushed past key asset limits by the Paycheck Protection Program say they will be unable to shrink their balance sheets back to normal size by the 2022 deadline, especially if there is a new round of rescue aid.

The 5-year-old company, which recently raised $131 million, says its strong growth reflects the timeliness of its mission: helping consumers who live paycheck to paycheck build wealth.

The industry is asking for more time to comment on a regulatory proposal that aims to prohibit banks from denying services to oil and gas companies and other firms in politically sensitive industries.

ATM technology provider Payment Alliance International is partnering with B4U Financial to enable users of any cryptocurrency wallets to redeem bitcoin for cash at the ATMs.

Moscow-based JSC Post Bank has established a merchant acquiring agreement with JCB International to allow JCB cardholders to withdraw cash from all of the bank's ATMs and make payments at Post Bank point-of-sale terminals in Russia.

Default risks soar in minority neighborhoods during challenging economic times because, data shows, homes there are overpriced relative to incomes. Zoning and other changes could make loans more affordable by boosting housing stock and driving down prices.

In a potentially good sign for credit unions, last week credit card spending reached its highest point since the start of the coronavirus pandemic, according to data from PSCU.