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Rep Ocasio-Cortez Calls For Hearings On Banks Lending To Immigrant Prisons

PYMNTS

Alexandria Ocasio-Cortez is asking for hearings in Congress on why Wall Street is lending money to private prisons that house undocumented immigrants, according to reports. New York Rep. We’re going to hold oversight hearings to make these banks accountable for investing in and making money off of the detention of immigrants,” she said.

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Online Lender SoFi Sees $12M Loss In Q3

PYMNTS

Online lender Social Finance (SoFi) continues to struggle, recording an adjusted loss of around $12 million during the third quarter before interest, taxes, depreciation and amortization. The FinTech company has now recorded losses for the second consecutive quarter. In August, it posted a second quarter loss of about $200 million.

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Democrats? $3T Stimulus Bill Would Quietly Grant Cannabis Firms Access To US Banking System

PYMNTS

But Section 110606 of the HEROES Act, entitled “SAFE Banking,” states that banks and other financial services firms would be able to serve cannabis companies and would be “held liable” by federal laws on transactions or proceeds across deposits, checking and lending.

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Senate Affirms Trump’s Jovita Carranza As SBA Chief

PYMNTS

Business organizations said in a letter to senators that “having Senate-confirmed leadership of the SBA will help to ensure that the department’s programs, that provide small businesses with access to capital and disaster assistance, are working effectively.” Even business groups critical of Trump’s tax law expressed support of Carranza.

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Top News In Payments: Innovators Make The Visible, Invisible; EU Leaders Plan Data Use, AI Laws

PYMNTS

Report: The Risky Business of Navigating Online Sales Tax for Merchants. While consumers are flocking to eCommerce, merchants working on expanding and selling online in more markets must comply with local sales tax regulations. Levy laws can vary widely, with one state taxing a product that another does not.

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The Fiserv-First Data Merger Is Complete

PYMNTS

We’re even more convinced that this transformative combination will extend leadership and value for clients, create important opportunities for associates and deliver above-market returns for shareholders for many years to come,” he noted.

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Building your growth plan: Key metrics to consider - Part 3

Abrigo

While increasing the volume of qualified loan applications is an important component of any growth strategy, leadership at these institutions may not consider that there are ample opportunities already available in their loan application pool. This practice is designed to mitigate risk, but it can also limit lending opportunities.

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