Credit

Credit

Square Commences Operations as an Industrial Bank

The fintech company's CFO Amrita Ahuja said bringing banking capability in-house will enable the company to “operate more nimbly.”
Credit

Metric of the Month: Invoices Billed to Customers With Credit Terms

Credit carries risk, but smart credit policies help the business grow.
Credit

Rare Outage Takes Fed Payment Systems Offline

Fedwire and FedACH were among the key systems affected by the outage, which the Fed blamed on an "operational error."
Credit

Bank Profits Rise 9% to $59.9B in 4th Quarter

“Banks remained resilient in fourth quarter 2020, consistent with the improving economic outlook,” the FDIC says.
Credit

U.S. Household Debt Hits Record $1.4 Trillion

Americans beefed up their mortgage balances to a new high, taking advantage of near-zero interest rates.
Credit

A Financed Emissions Standard for Banks

The PCAF standard is a response to the growing recognition that financial institutions play a key role in shaping the future of our planet.
Credit

Loan System Bugs Holding Up PPP Loans: AICPA

In a letter to the SBA this week, the AICPA said legitimate loan applications are being denied acceptance because they are being incorrectly flagged.
Credit

Banks Paused Tightening in Q4

Many U.S. financial institutions left loan standards unchanged for business and real estate credits, as demand weakened.
Credit

Robinhood Raises $1B Amid GameStop Firestorm

The stock trading app company also accessed $500 million through existing credit lines.
Credit

Visa Beats Estimates on Online Shopping Surge

“Our performance in the fiscal first quarter reflected solid results and continued positive momentum in a challenging COVID-19 environment."
Capital Markets

Startup CFOs: Consider Adding Debt to the Funding Stack

Could startups and VC investors be better served by capital structures that more closely mimic the ones that private equity uses?
Credit

Low Rates, Fewer Loans Cut BofA’s 4Q Profits

Bank of America's results were helped by an $828 million release from its reserves for expected loan losses.
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