Economy

As the coronavirus pandemic unfolded in early 2020, Visa deployed street-level teams in 66 cities across the U.S. to meet with small-business owners to help them transition to a digital-first world.

The uncertainty from the pandemic has made costs unpredictable, says Ally Lending's Hans Zandhuis.

Jane Allerman-Rey, the mutual's chief operating officer, will take on the new role in January.

Credit is tightening to 2008 levels at a time when small businesses need help the most, former SBA chief Karen Gordon Mills says.

Many eateries that relied on outdoor dining to survive the pandemic could see revenues plummet as the weather turns cold.

RockPoint Bank is on pace to open early next year. The announcement comes two weeks after Craft Bank became Atlanta's first new bank since 2010.

The challenger bank now offers small businesses checking, lending and payments services on one platform and can link them through Plaid to external bank accounts.

The company is best known for its reciprocal deposit program, but it’s finding new ways to serve banks without competing for their customers.

The industry has enjoyed lower tax rates and regulatory relief during the current administration, but individual donations from the eight largest banks favor the Democratic nominee by more than 4-to-1.

The agency finalized a rule to determine which party in a loan sale is subject to regulatory requirements. Advocates charged that the move will help predatory lenders.

Amy Coney Barrett will assume a lifetime appointment on the Supreme Court, just as it prepares to hear a case on the Affordable Care Act that could toss years of advancement in health care payments into disarray.

The Detroit company said David Provost, former CEO of Chemical Financial, will become its CEO.

Spence’s promotion to president could signal that the Cincinnati banking company is grooming him as a potential successor to Chairman and CEO Greg Carmichael.

Speculation is part of the reason for the growing differential in market capitalization between legacy financial institutions and upstarts. But one venture capitalist says it's "a call to action" for traditional banks to match fintechs' all-digital, customer-friendly services.

Bank of America made three more investments in minority-focused lenders, bringing its total to 10 in the past two months.

Full-time equivalent, as of June 30, 2020. Dollars in thousands.

Year to date through June 30, 2020. Dollars in thousands.

In the first episode of the five-part Arizent documentary series, we look at how disparities in net worth and mortgage discrimination impact Black home ownership — and why it's impossible to close the gaps without attacking systemic racism.

Traditional lenders must embrace fintech underwriting tools that would help women- and monitory-owned businesses get loans they are too often denied.

In the first episode of the five-part documentary series, we look at how disparities in net worth and mortgage discrimination impact Black home ownership — and why it's impossible to close the gaps without attacking systemic racism.