Small business

As the city slowly recovers from January's wildfires, Banc of California is working with a local nonprofit group to help small businesses bounce back.

Kate Luft, a former chief of staff for Citi CEO Jane Fraser, is now running the company's U.S. retail banking business. In her first interview since getting the job, Luft discussed what banks can learn from airlines and the advantages that incumbents have over fintechs.

A pair of GOP-sponsored bills would modify three of the agency's major programs in hopes of making more capital available to manufacturers.

More than 1.4 million small businesses bank with U.S. Bank, according to the company, and it's now offering help with managing expenses and accepting payments.

The sector includes construction companies and others that rely on materials from outside the U.S., which could challenge lending based on future payment flows.

For the first time in four years, more small businesses reported a drop in income than an increase, according to a survey by the 12 regional Federal Reserve banks.

Trump's Small Business Administration told probationary staff members it had mistakenly sent them termination notices, then informed some of them the next day they were fired after all.

Quicken Business & Personal will help entrepreneurs manage their personal and business accounts on one platform by aggregating financial data from banks.

The gulf between what small businesses need and what banks are providing could be an opportunity for bankers.

Banks that don't focus on credit cards for this market may find larger banks and fintechs are eating their lunch.