Lending

Consumers are booking rooms at levels not seen since early 2020 and loan delinquencies have fallen sharply as a result. Still, business travel remains sluggish and new COVID variants are spreading, threatening the hotel industry’s recovery.

The tech giant is entering a heavily competitive market led by large companies like PayPal and hot startups like Affirm and Afterpay.

Blend Labs, a lending platform for financial companies, raised $360 million in an initial public offering price at the top of a marketed range.

Wells Fargo’s average loans tumbled in the second quarter as consumers and businesses, buoyed by pandemic stimulus programs, refrained from more borrowing.

Apple Inc. is working on a new service that will let consumers pay for any Apple Pay purchase in installments over time, rivaling the buy now/pay later offerings popularized by services from Affirm Holdings Inc. and PayPal Holdings Inc.

The Fed’s decision to extend a key liquidity program keeps the prospect of additional Paycheck Protection Program loans alive through July 31.

Banks such as Santa Cruz County Bank are now trading shares over the counter to capitalize on investors' bullish outlook for small lenders.

Even as lockdowns ease, the trend toward remote work poses challenges for building owners and the banks that lend to them.

A growing number of companies like Klarna, Sezzle and Circle let consumers split large purchases into smaller transactions paid over time. But they say they need to offer more than one product to set themselves apart and build customer loyalty.

Unchained Capital, a Bitcoin-based custody-service provider and lender, has raised $25 million in funding, valuing the company at $125 million.