After six years of painstaking development, a small New York bank’s fintech banking operation appears to be gaining traction. The $2.9 billion-asset Medallion Financial originated $305 million in loans for strategic partners through the first six months of 2025, up from $203 million for all of 2024. Fees associated with those fintech originations totaled $1.5
A week after reporting a second consecutive quarterly loss, Florida-based BayFirst Financial has shuttered the small-dollar Small Business Administration lending program that lays at the heart of its problems. BayFirst announced late Monday it has terminated its Bolt loan program. As part of the decision, the $1.3 billion-asset BayFirst laid off its 26-person Bolt team,
Fairfax, VirginiaAdobe Stock Freedom Bank of Virginia in Fairfax is rolling out a workplace banking program this month, part of a broader effort to capture more consumer deposits. In workplace banking, a financial institution partners with an employer to offer its employees a specially tailored suite of products and services. For President and CEO Joe
Stamford, Connecticut on Aug. 7, 2023.Adobe Stock Two months after shepherding a $58 million private placement to completion, Patriot National Bancorp CEO Steven Sugarman is remaking the Connecticut bank’s board and management team. Patriot, which has $957 million of assets, announced a number of new director and executive appointments on Monday. Most prominently, Private Bank
WASHINGTON — The White House’s proposed budget pitches eliminating Community Development Financial Institution Fund’s discretionary awards. In President Donald Trump’s proposed budget, the White House said that past awards have “made race a determinant of access to loan programs to ‘advance racial equity,’ funded products and services that built so-called climate resiliency,’ and framed American
Partner Insights spoke to Maxwell Wu, Co-founder and CEO at Fulcrum Lending based in New York City about his firm’s unique take on private credit, technology, and financial trends in the multifamily space. Before launching Fulcrum, Wu led the spinout of a technology group from Greystone, serving as the chief underwriter while leading the team
The North Carolina House of Representatives this week passed a measure that would allow credit unions to expand into markets underserved by banks./nd700 – stock.adobe.com Credit unions in North Carolina are campaigning to change state law so they can increase services in so-called “banking deserts” — often rural markets where traditional financial services are sparse.