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Square Capital Distributed 76K PPP Loans Totaling $820M

PYMNTS

Square Capital LLC processed more than $820 million in Small Business Administration (SBA) Paycheck Protection Program (PPP) forgivable loans in six weeks, the firm reported. Last year, Square Capital did $2.3 Of that number, 60 percent of the borrowers had never before received a loan through Square Capital.

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B2B FinTechs Overcome Pandemic VC Slump

PYMNTS

Talk of a venture capital plummet continues to grow, particularly in Europe, where new data from Consultancy Europe revealed that the number of venture capital deals for startups across the continent has declined every quarter since Q1 2019. with total funding nearly reaching $391.25 million this week. earlier this year.

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JD Sports Purchases California-Based Shoe Palace

PYMNTS

Overall cash consideration for the purchase of the company is $325 million, which is subject to “customary cash/debt and working capital adjustments,” of which $100 million has been deferred and will be paid on different dates over the 12 months to come. California-based Shoe Palace was started in 1993 by the Mersho family.

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OCC outlines risk plan as Northeastern loan growth doubles

Abrigo

The tri-state area (New York, New Jersey and Connecticut) saw the highest growth in the district, an impressive 7 percent. The OCC plans to implement the following: • Risk management for new and high growth loan products. The OCC on Oct. This metric surged from 2 percent as of June 30, 2013, to 4.4

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Walmart Adds Two Global Governance Leaders To Support Financial Services

PYMNTS

Waddell will provide support and guidance to financial services compliance leaders across all of the company’s operating markets, including Walmart U.S., The executive comes to the retailer from Capital One , where he most recently served as vice president of compliance. eCommerce and the compliance teams in its international markets.

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Popular Bank Issues Small Business Recovery Grants

PopularBank

Grant Program Provides Relief to Non-profit Organizations and Small Businesses in New York and New Jersey Significantly Impacted by COVID-19. SBRG serves to provide relief to organizations in New York and New Jersey that have been significantly impacted by COVID-19. New Jersey. Aspira Inc.,

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Banks Voice Concern Over Data Flow To India’s FinTechs

PYMNTS

Elsewhere in Asia, South Korea, has seen the minting of its fourth unicorn startup as Viva Republica, which operates the payment app Toss, has raised $80 million, sparking a $1.2 billion valuation. TechCrunch has reported that Toss users can access and manage a variety of credit and investment products that also include products from banks.

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