Wells Fargo says Fed cap is limiting small-business relief
Wells Fargo & Co. said it can’t fully meet demand from small businesses rushing to participate in a U.S. relief...
Retail Banking
Fintechs, lacking guidance, pivot to SBA loans
U.S. Treasury Secretary Steve Mnuchin last weekend confirmed “any fintech lender” will be authorized to make small business loans as...
Weekly Wrap: PPP ramp up dominates the credit industry
The Small Business Administration's Paycheck Protection Program went live today, and confusion reigned. Despite shelter-in-place mandates for better than 80%...
Startups are scrambling for access to $349 billion in relief loans
Representatives for venture-backed startups are pushing for the companies to get access to $349 billion in small business loans authorized...
B2B payments companies seek growth amid pandemic
Despite the current economic uncertainty resulting from COVID-19, some business-to-business payment companies are gaining traction with clients and investors alike. ...
Remote work heightens risk of data breach
As financial institutions transition employees to working remotely during the coronavirus pandemic, cybersecurity threats have made them more vulnerable, according...
Challenger bank HMBradley sees opportunity in pandemic
Challenger bank HMBradley launched this week in the face of global uncertainty, with the backing of PayPal founder Max Levchin,...
As pandemic spending shifts, Brex keeps up with rewards
Brex, a corporate card and financial product startup, is shifting the rewards points on its credit cards to better accommodate...
SMB lender Kabbage furloughs employees
Small business lender Kabbage is furloughing a significant number of its U.S. employees, according to a company spokesperson. The company...
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