SBA’s newly licensed nonbank lenders will focus on growth
This week the Small Business Administration followed through with a controversial policy change by granting access to its flagship 7(a) program to three additional nonbank lenders. These new participants vowed to ramp up their small-business lending efforts.
Rep. Maxine Waters pressed executives from City National Bank, PNC Financial Services and Wells Fargo on opening branches in her California district and upholding promises made from recent merger agreements or consent orders.
Bank of New York Mellon is hiking its minimum wage 12.5%, offering stock options to a wider range of employees and expanding well-being programs amid a tight labor market and increasing demand for employee benefits.