The Latest

New York and other states have been far ahead of federal policymakers when it comes to crafting a supervisory structure for cryptocurrencies. The recent White House report on stablecoins ignored their work, and that was a mistake.

The bank-backed peer-to-peer payment network enables Allstate to offer quick payouts to policyholders, and it is working to provide a similar service to other insurance companies.

The White House's latest budget proposal slashes funding for a program that would allow the Small Business Administration to make direct 7(a) loans. Lenders say the idea is still misguided.

A report by the agency found that consumers in majority Black neighborhoods were more than twice as likely as those in white neighborhoods to lodge complaints with the credit bureaus over information in their files. Meanwhile, disputes were less common among older borrowers.

A partisan split at a congressional hearing offered a preview of coming regulatory debates over the nascent sector. One key question is whether the consumer bureau will impose ability-to-repay requirements on installment lenders.

The establishment of the Office of Minority and Community Development Banking comes less than two months after the agency created an investment fund to match private investors with minority-owned banks and community development financial institutions.

President Biden said he’ll announce soon his choice of nominees for chair and other vacancies on the Federal Reserve, amid a scandal over stock trades by central bank officials.

The $8.7 billion-asset credit union has cut its charge for overdrafts from $25 to $5, following similar reductions by other financial institutions.

The Cooperative Bank in Massachusetts is working with the tech startup Carefull to monitor accounts for signs that older clients are being swindled by scammers — including people close to them.

Lawmakers from both parties are pushing for legislation to automatically substitute a new interest rate benchmark for the expiring London interbank offered rate in certain hard-to-amend legacy contracts.