Most agencies use electronic benefit transfer to deliver funds to prepaid cards, but recipients who need access to cash are often caught in a bind, with fewer convenient or free ATMs available in an increasingly digital payments landscape.
Several megabanks dominate the market, but First Choice is seeking to expand there by catering to its ready supply of midsize businesses. It's not the only one.
Christopher Myers will retire as president and chief executive of CVB next spring, and the California bank says it will hire a search firm to begin seeking his replacement.
The pair spoke in grand terms when they announced they were combining, but a securities filing tied to the agreement serves as a reminder that when two banks decide to become one, it's often because they have to.
Seed, a San Francisco startup, has developed a platform that lets small businesses quickly open accounts online. That's an important feature for Cross River as it courts more fintech clients.
Companies that offer early access to earned wages want a regulatory framework for their fast-growing industry. But the bill under consideration in Sacramento is exposing big divisions in the sector.
