Small business

Severn Bancorp in Annapolis, Md., has partially redeemed outstanding shares tied to the Troubled Asset Relief Program.

California Bank of Commerce in Lafayette has raised $9 million to help it exit the Small Business Lending Fund.

A new Labor Department regulation designed to make more American workers eligible for overtime pay stands to add costs and slow hiring at community banks.

The financial services sector would benefit from companies — banks included — submitting dedicated disclosures on the impact of climate change.

A study commissioned by the Massachusetts Bankers Association found a correlation between a spike in credit unions with low-income designations and an increase in member business lending in the state.

Synchrony Financial, the credit card lender that was recently spun off from General Electric, is considering an expansion into small-business lending.

Harmony Bank in Jackson, N.J., has exited the Small Business Lending Fund. The $ 295 million-asset company said in a press release Tuesday that it paid about $3.5 million to redeem roughly 3,500 shares of preferred stock.

Say what you will about these companies' longevity, were it not for the likes of Lending Club you wouldn't see banks like Wells Fargo introducing expedited loan products.

First Connecticut Bancorp in Farmington has committed to making $5 million in small-business loans over the next year.

If alternative small-business lenders don't get engaged in the regulatory dialogue, they risk letting a few bad apples determine their fate.