Merchant

Though the retailer's threat to drop Visa in the U.K. appears to have subsided, companies like Clik2pay, Affirm and Curve have seized on an opportunity to advance account-to-account transactions, buy now/pay later and cryptocurrency.

The deal is the latest example of a mainstream bank buying a point-of-sale lender focused on financing home improvement projects.

The company sold small businesses a credit-building product that fell short of its promises, and also failed to help them fix inaccuracies in their credit reports, according to the Federal Trade Commission. D&B has agreed to give refunds to many customers.

Though the dining sector has been hit hard by COVID-19, restaurateurs have pivoted to drive-thru and curbside options, and rising grocery prices are making eating out comparatively less pricey.

Morgan Stanley agreed to pay $60 million to settle a class action suit by consumers claiming the firm failed to safeguard their personal information.

Asenso Finance and a community development financial institution, the National Asian American Coalition, have developed a loan aimed at borrowers with limited credit histories. The underwriting relies in part on alternative data and borrowers are required to take financial literacy courses.

A few changes to underwriting rules could result in a huge opportunity for both lenders and minority women who own businesses.

For the third time since the start of the pandemic, the Richmond, Virginia, company will close branches to contain costs in what it calls a “challenging macroeconomic environment.”

Bank of America is turning to private jets and exotic cars to compete with American Express and JPMorgan Chase and lure big spenders to its credit cards.

The Georgia bank estimates that it will save $12 million annually by shutting down 40 branches.