Finance

The legislation proposed by Rep. Nydia M. Velázquez, D-N.Y., goes further than recent state efforts to require better disclosures for high-cost lenders, but it would face an uphill battle in the GOP-controlled Senate.

Fintechs are facing unique challenges in the pandemic. There might be a resurgence in funding on the horizon, but startups are looking to see what they can do now to weather the storm.

There are millions of U.S. consumers who don't have access to traditional financial services. One challenger bank's mission is to help them overcome the barriers to financial inclusion.

MoneyGram International's digital transformation came at just the right time, considering walk-in traffic at MoneyGram locations in certain regions of the world was stymied for months by the coronavirus pandemic. But for many people, digital is still no replacement for the human touch.

The mortgage giants will have to meet benchmarks for covering cash flow needs during stressed periods. The FHFA views the requirements as a prerequisite to the companies exiting conservatorship.

Apple Card helped push services-category revenue to new heights for Apple, which reported double-digit growth in its product and services segments for the third quarter of 2020.

The regulator approved a proposal that mirrors a rule banking regulators implemented in February 2019 to cushion the Current Expected Credit Losses standard's impact on capital levels.

Acting Comptroller of the Currency Brian Brooks said the agency plans to issue new assessment procedures within weeks as a follow-up to recent Community Reinvestment Act reforms. He also touched on the “true lender” issue and why the agency is considering a narrow-purpose payments charter.

Mastercard reported a sharp decline in payments in its most recent quarter, but some digital seeds it planted before the coronavirus pandemic are already bearing fruit.

The Pennsylvania company said the move is in response to margin pressure and customers' increased adoption of digital channels.