Credit

Banks can now make loans of less than $1,000 easily and profitably. Increasing their availability would benefit consumers, communities and, most of all, banks themselves.

Princeton Bancorp, which has $2.3 billion of assets, reported a sizable impairment charge tied to participation loans on a pair of office properties.

The card issuing fintech has worked for years to expand its business outside of Block. Mike Milotich, who in February became the third person to hold the fintech's top job in as many years, has been tasked to do just that.

Because of the Consumer Financial Protection Bureau's onerous regulation governing prepaid products, Americans who rely on them as their primary personal banking tool are being denied access to features available to users of similar products, such as checking accounts.

Investors seemed to agree with CEO Barry Sloane's argument that strong earnings will outweigh a jump in nonaccrual loans.

The bureau's Tuesday afternoon announcement follows an earlier statement that it would walk back a rule that places buy now/pay later loans under the Truth in Lending Act's Regulation Z, a move that will ease compliance for fintechs that offer installment loans.

Tokenization is a natural fit for the private credit market, and could help create new investment opportunities. But regulators must create clear rules of the road.

The Consumer Financial Protection Bureau sided with two trade groups in asking a federal court to vacate the medical debt rule. Consumer groups have asked to intervene and a judge has not yet ruled on the motion.

BCB Bancorp in Bayonne, New Jersey, swung to an $8.3 million loss in the first quarter due to a troubled cannabis loan. The crowded weed marketplace in the New York area is leading to tighter margins.