Merchant

The decision to approve the fintech's application to make 7(a) loans came nearly a month after Funding Circle's U.K.-based CEO hinted it is considering a sale of its U.S. operations, alarming some members of Congress.

The Congressional Budget Office report on the Home Loan banks illustrates the ways the nearly 100-year-old system is integral to the U.S. economy, and its benefits for American consumers.

Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.

The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.

Each spring during the rush of annual meetings, a handful of financial institutions take heat from shareholders who demand new strategies, management shakeups and, at times, even a sale of the company.

Wars in Ukraine and the Middle East. Fiercely polarized U.S. politics. Rapidly multiplying payments options on social media networks and elsewhere. Those factors and more are making it harder than ever for banks to combat illicit financial transactions.

In a simulation exercise hosted by the Global Resilience Federation on Tuesday, banks and credit unions tested their ability to withstand an industrywide wiperware attack.

Some 54% of small businesses said in a recent survey that elevated rates had led to higher debt payments. And in a sign that loan demand remains soft, 37% reported delaying expansion plans or capital spending.

Larger banks are responsible for a special assessment to cover the costs of the failures of Silicon Valley Bank and Signature Bank. The price tag has ballooned by $4.1 billion, and trade groups are criticizing the FDIC's process, arguing that it lacks transparency.

The agency had intended to block access to tax data by most lenders on June 30 as part of a policy change that sought to protect taxpayer privacy. But drew broad opposition from the financial services industry.