Merchant

While the $800 billion in PPP loans has largely self-liquidated through the forgiveness process, SBA continues to service the longer-duration EIDL portfolio and will likely be doing so for years to come after opting to hold on to the loans.

The bank is connecting billers and brokerage accounts as it builds the case for instant funding. It also points to countries such as Brazil and India as models to follow.

The small business lender's bankrupt shell has agreed to pay up to $120 million in connection with allegations that its verification processes for Paycheck Protection Program loan applications were faulty. The government argued that Kabbage reaped larger fees by enabling fraudulently inflated loans.

Regulation, credit quality and AI-fueled fraud are among the big concerns for banks and payment companies.

What lies ahead for the banking industry this year? Here's what analysts and investors are tracking after the latest bank earnings reports.

Executives of Allegiant, Breeze and Spirit complained to the heads of the Consumer Financial Protection Bureau and Department of Transportation that the relationships between big banks and big airlines are anticompetitive. Consumer advocates also questioned whether large airlines are delivering on promised rewards and if consumers are racking up debt to accrue miles and points.

The next major chance the lawmakers could have on the so-called "swipe fee" legislation will come next year as Congress looks toward a tax package.

Bank stocks are up this year as interest rates have leveled off and there are hopes that pressure on lenders' profits could moderate.

National Australia Bank is adding a Pay By Bank option for near-instant payments, Italy is bringing open-loop payments to buses in Tuscany, and more.

Banks rely on fee income to a greater or lesser extent depending on business model, and the Biden administration is intent on cutting consumer fees across the economy. But that push might hamper another administration priority: financial inclusion.