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You guys must not know many immigrant business owners. They fall for scams all the time.
Gullible people fall for scams. I don't think immigrant business owners are any more or less gullible than the population at large (if anything, they're probably more suspicious than most).
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So on another message board, a few people seem to think Hank knows about Walt, or at least suspects it. They think he wasn't buying the gambling bit, and was showing Walt the lab notes to test out his reaction.
There were definitely a few moments where Hank seemed to give Walt some strange looks but that probably has more to do with the fact that Walt just fessed up to being a card shark and not because Hank suspects anything yet.
As for Walt’s loyalty to Jesse, in addition to what other’s said, he probably feels like Jesse saved his life by murdering Gale.