“As we continue to listen to our partners and adapt our services and offerings to meet their needs, one key area where they have asked for support is quick and easy access to capital. That’s why today, DoorDash is introducing DoorDash Capital , a new merchant service that provides fair and convenient access to financing for eligible merchants.”

“jaris , the leading private label and full-stack embedded lending solution in the U.S., today announced it has partnered with HoneyBook , the leading platform for independent businesses to manage their client flow and cash flow to launch HoneyBook Capital.”

“OneUnited’s loan, called CashPlease, is designed to help customers of the $635 million-asset Black-owned bank manage their cash flow without the hurdles and higher costs some other lenders might impose. Instead of conducting credit checks, it looks at applicants’ checking-account activity and other aspects of their relationship with the bank. Funds arrive within four hours of the loan’s approval. OneUnited’s rollout of CashPlease comes after the introduction of similar small-dollar loans by several large banks.”

“Kabbage from American Express today launched Kabbage Funding , offering eligible small businesses flexible lines of credit between $1,000 and $150,000—now with the powerful backing of American Express. With Kabbage Funding, small businesses can apply in minutes to access working capital 24/7 to help manage their company’s cash flow…Kabbage Funding is a business line of credit offered by American Express that approves customers by analyzing their business data in real-time, and adds to its new suite of products, including Kabbage Checking™ launched in June 2021. Building on its efforts, American Express has also begun offering Kabbage Payments™ to eligible existing customers, which will be more broadly available in 2022, and makes it simple for small businesses to accept card payments and get paid quickly.”

“Payoneer (NASDAQ: PAYO), the commerce technology company powering payments and growth for the new global economy, announced a new working capital offer for Walmart U.S. Marketplace sellers. Payoneer will now offer expanded Payoneer Capital Advance to Walmart Marketplace third-party sellers on Walmart.com. The program helps support Walmart’s sellers’ growth by offering a choice of three types of working capital offerings that suit different business needs. These instant cash flow solutions help empower sellers to grow by expanding into different product categories, preparing for peak seasons, growing into new markets and more.”

“Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, is enabling financial institutions to build their small and midsize business (SMB) programs through the launch of a cloud-based, digital lending and credit platform. The latest Fiserv offering, leveraging the Atlas Platform from fintech StreetShares, allows financial institutions to manage the full lending lifecycle from digital document capture, underwriting, offer management and closing – delivering against the expectations of both staff and customers.”

“Bank lending standards eased at a record pace in the second quarter as loose monetary policy and continued economic recovery fueled lending competition. According to UBS analysts, net 25% of banks relaxed lending standards for both consumer and small business loans in the second quarter, based in part on data from the Federal Reserve Board of Governors. It shows a record pace of credit easing, based on data dating back to the turn of the millennium.”

“U.S. fintech company Brex , the all-in-one finance solution for growing businesses, today launched Brex Venture Debt, a new product that gives select customers access to debt financing. Brex already offers credit cards, cash management accounts, spend management, and bill pay software together in a single dashboard for its customer base of high-growth businesses. With the addition of Brex Venture Debt, the company is further building on its promise of offering financial solutions for customers at every stage of growth.”

“Weeks after Wells Fargo & Co. set off a public outcry over its plan to discontinue personal lines of credit, the bank is reversing course. In recent days, the San Francisco-based lender began informing customers who have been using their personal credit lines that the financing channels will remain available. People who haven’t used their accounts since October also will be given the option of keeping them open, according to notifications seen by Bloomberg.”

“HSBC Bank USA has become Walmart’s first banking collaborator supporting its initiative to make access to working capital affordable, transparent and more equitable. The financing program, working with C2FO , provides certified diverse and minority suppliers1 with convenient and consistent access to reliable funding sources. The funding could in turn be applied to initiatives that spur growth and improve resiliency such as hiring more employees, investing in innovation, and creating a cash cushion for leaner times.”

“U.S. consumers’ demand for new debt grew in the second quarter and credit card use rebounded, reversing the trend of declining card use seen earlier in the coronavirus pandemic, according to a report released on Tuesday by the New York Federal Reserve. Total household debt increased by $313 billion in the second quarter to $14.96 trillion, the New York Fed said in its quarterly report on household debt and credit. Mortgage debt continued to be the biggest driver of that growth, rising by $282 billion to $10.44 trillion by the end of June.”

“Amid the bright spots in JPMorgan Chase’s second-quarter earnings report — including higher consumer spending and record revenue in asset and wealth management — there lingers a pesky headwind that could persist for several months. Payment rates on credit cards, which have been higher than normal during the pandemic, could stay elevated through the end of the year, executives at the $3.7 trillion-asset bank warned Tuesday. If cash-flush consumers keep paying off their balances at unusually fast rates, loan growth will remain muted, even though card spending has been rising.”

“Wells Fargo is ending a popular consumer lending product, angering some of its customers, CNBC has learned. The bank is shutting down all existing personal lines of credit in coming weeks and has stopped offering the product, according to customer letters reviewed by CNBC.   The revolving credit lines, which typically let users borrow $3,000 to $100,000, were pitched as a way to consolidate higher-interest credit card debt, pay for home renovations or avoid overdraft fees on linked checking accounts.”

“Loans to marijuana companies, long taboo even at banks and credit unions that take deposits from cannabis firms, are finally gaining a degree of mainstream acceptance. A handful of insured depository institutions, including two banks with more than $40 billion in assets, have started offering credit in states where the drug is legal, according to interviews with lenders and industry consultants as well as publicly available information. The newfound openness to lending comes as the U.S. cannabis industry continues to mature and builds a heftier financial track record. Some banks and credit unions have been accepting deposits from pot companies in recent years, in accordance with stringent federal guidelines, which has given them an unusually deep understanding of those businesses’ cash flows.”

“Credit cards, auto loans and other personal loans are all getting easier to come by, more than a year into a pandemic that spooked lenders and caused them to tighten lending standards significantly. The net share of banks that loosened underwriting standards for credit cards hit a high in roughly the first quarter, according to a survey of loan officers conducted by the Federal Reserve. The net share of banks relaxing underwriting on other consumer loans such as installment loans also notched a record. For auto loans, that share was the highest level in more than eight years.”

“Some of the largest U.S. banks plan to start sharing data on customers’ deposit accounts as part of a government-backed initiative to extend credit to people who have traditionally lacked opportunities to borrow. JPMorgan Chase & Co., Wells Fargo & Co., U.S. Bancorp and others will factor in information from applicants’ checking or savings accounts at other financial institutions to increase their chances of being approved for credit cards, according to people familiar with the matter. The pilot program is expected to launch this year. It is aimed at individuals who don’t have credit scores but who are financially responsible. The banks would consider applicants’ account balances over time and their overdraft histories, the people said.”

“The U.S. Senate voted on Tuesday to repeal a regulation introduced during former President Donald Trump’s administration that Democrats say allows predatory lenders to skirt state consumer protections. Lawmakers voted 52-47 to repeal the “true lender” rule, marking the first time Democrats have rolled back a Trump-era financial rule using the Congressional Review Act, a 1996 law that gives Congress the ability to rescind recently enacted regulations. The White House said in a statement it supported the resolution repealing the rule, which now heads to the Democratic-led House, where it is also expected to pass. The targeted rule, written last year by the Office of the Comptroller of the Currency, attempted to clarify whether state or federal laws applied when lenders like fintechs partnered with traditional banks.”

“The U.S. Department of Justice is investigating whether financial technology companies including Atlanta-based Kabbage Inc may have erred while distributing billions of dollars in pandemic aid to struggling small businesses, three people with knowledge of the matter told Reuters. The investigation, led by the Justice Department’s civil division, is examining whether Kabbage and other fintech companies miscalculated how much aid borrowers were entitled to from the Paycheck Protection Program (PPP) due to confusion over how to account for payroll taxes, the three people said.”

“After a year of pandemic-induced caution in consumer lending, bankers are starting to reacquaint themselves with risk. Lending standards have not yet recovered from the massive tightening in 2020, and banks remain somewhat hesitant about lending to consumers with lower credit scores. But a recent Federal Reserve survey suggests some normalization in underwriting as vaccinations and fiscal stimulus help fuel an economic rebound. Many U.S. consumers have emerged from the pandemic’s darkest days in better financial shape than they were before.”

“Meet Marshawn Govan, a veteran entrepreneur of 10 years and the developer of a new app that aims to revolutionize the tax industry on behalf of Black and Latino communities. The goal is to give underprivileged and underbanked families access to consumer credit to be able to affordably finance auto loans, make a downpayment on a home, and/or pay off debt.”

“New York’s Department of Financial Services on Tuesday said it concluded its investigation of Apple’s AAPL.O credit card and its underwriter Goldman Sachs Group Inc and found no evidence of unlawful discrimination against applicants under the state’s fair lending law. New York launched the investigation in late 2019 after a tech entrepreneur alleged on social media that the Apple card’s algorithms committed gender bias because he was given a credit limit that was 20 times what his wife received. The investigation included a review of thousands of pages of records submitted by Goldman and Apple, interviews with Apple card applicants and data for roughly 400,0000 Apple card applicants from New York state.”

“U.S. bank lending fell to a new low this month, Federal Reserve data show, as a cash-rich banking system continues its cautious approach to making new loans, Federal Reserve data show. Total loans and leases dropped to 62.8% of bank deposits in the week ended March 10. Lenders use deposits to fund new credit for their customers. Total assets at U.S. banks climbed 0.7% to $21 trillion, according to the Fed.”

“Capital One Financial Corp. has begun to lift borrowing limits for certain customers as it seeks to restart growth in its sprawling credit-card business. Increases are being offered to existing customers with both prime and subprime credit scores, Chief Executive Officer Richard Fairbank said at a virtual investor conference Wednesday. The company continues to hand out smaller credit lines to new customers .”