Embedded lending can help microbusinesses and small businesses grow and maintain smooth operations despite unstable cash flows. However, PYMNTS Intelligence’s latest study finds that relatively few microbusinesses and small businesses currently take advantage of this lending solution. In fact, fewer than one in five respondents used it in the last year. The data highlights unmet needs for access to lending, especially among microbusinesses.
I often say class counsel should avoid demanding class data upfront. It largely just complicates matters for them. Instead the right move is to learn about the data sets available so you can determine whether they are reliable or not. If so, you can move forward without the full production. If not, you can get out before wasting any more time-or pivot to an optional strategy.
Federal bank regulatory agencies today released the 2024 list of distressed or underserved nonmetropolitan middle-income geographies where certain bank activities are eligible for Community Reinvestment Act (CRA) credit.
Both houses of the New Jersey Legislature recently passed Assembly Bill No. 3861 (AB 3861), known as the Louisa Carman Medical Debt Relief Act. The legislation’s stated aims are to prevent undue financial hardship and protect patients from aggressive debt collection practices. Medical debt in general and how and whether it can be included in consumer reports has been a hot topic at the state and federal level.
The interconnected nature of financial systems can have cascading consequences when data is compromised. And with the recent news that the June cyber breach at Evolve Bank & Trust has reportedly impacted upwards of 7.6 million customers, containing the impact of a single data breach before it can ripple throughout an entire ecosystem is top of mind for banks, FinTechs and businesses alike.
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