Citi's paperless stumble; SBA 7(a) loans get smaller

Phasing out paper statements? Citi's stumble holds lessons for others: A recent effort by Citi to nudge certain customers toward digital-only statements was well intended but too punitive, observers say. The key, they argue, for banks seeking to cut costs or achieve other goals is to offer incentives to those with ingrained habits.

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SBA 7(a) loans are getting smaller: Since the end of the U.S. Small Business Administration 's 2022 fiscal year, the average loan size in its flagship program has dropped more than six figures. The addition of three new nondepository lenders could further drive down this figure.

CFPB, regulators boost thresholds for Truth in Lending standards by 4.5%: The Consumer Financial Protection Bureau , Federal Reserve Board and other banking regulators rolled out their annual adjustments for the thresholds that determine whether activities eligible for enhanced standards.

U.S. Bank is leaning on Elavon for BNPL reach: U.S. Bank is adding fintech-style buy now/pay later lending to other recent payment upgrades at its merchant acquiring unit.

Senate Republicans ask regulators to withdraw Basel III proposal: Senate Banking Committee ranking member Tim Scott, R-S.C., released one of his first major public? bank policy pushes in months after formally suspending his presidential campaign.

Know a dynamic woman leader in the payments industry? It’s time to?apply for the annual Most Influential Women in Payments awards.?

Capital One seeks dismissal of lawsuit brought by disgruntled savers: The bank was recently sued by customers who say they were misled into thinking that their savings accounts were earning competitive rates. Capital One responded with a series of arguments for why the case should be thrown out.