The Latest

Federal Reserve Chairman Jerome Powell told senators that the central bank is willing to explore a credit-sensitive interest benchmark in addition to the secured overnight financing rate, which some banks say could cause problems during economic stress.

Point of sale credit is a popular option, and Visa has followed its investment in Klarna by financially backing ChargeAfter.

The Radcliff, Ky.-based credit union wants to serve more Kentuckians and is hoping a name change will help achieve that goal.

BitPay has integrated bitcoin and cryptocurrency payments into Poynt’s Smart Terminal point-of-sale devices, reaching an addressable market of more than 100,000 retailers.

Bankers in the Hawkeye State are targeting legislation that would permit credit unions to gamify savings. This is at least the third major issue in recent years where the two sides have had a high-profile clash.

Refinance application activity last week was the highest in nearly seven years, with more than triple the volume from one year ago, according to the Mortgage Bankers Association.

A New Jersey jury has put banks and other businesses on notice about their liability for incidents involving clients who mistreat employees in the workplace.

Capital Corps, founded by former Banc of California CEO Steven Sugarman, wants the minority-run Broadway sold to a buyer that serves low- and moderate-income borrowers.

The advancement of mobile wallets has never quite aligned with U.S. dining habits, where patrons are accustomed to handing off their credit cards to wait staff — something they are less likely to do with their phones.

Proposed reforms to the Community Reinvestment Act focus on everything but bank products that promote higher education. It’s time to change that.