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Social Finance’s application for an industrial loan charter has not only drawn opposition from a coalition of incumbent banks and community activists, it also serves as a microcosm of several perennial debates in financial services policy.

Just as pre-crisis success was illusory, so too might be expectations that banks could ever regain that type of profit growth again.

A series of balance sheet moves and a focus on deposit gathering and business lending led to a $157 million profit in the second quarter.

The Michigan company had fewer gains from loan sales. It also reported an increase in noninterest expenses.

Digital currency investors and miners will be able to hedge the volatile assets under U.S. regulatory oversight for the first time in just a couple of months.

Chinese e-commerce giant Alibaba Group Holding Ltd. and its Indian associate Paytm E-commerce Pvt are in talks to invest about $200 million for a stake of roughly 20 percent in India’s leading online grocer, Bigbasket, according to a person with direct knowledge of the negotiations.

Policymakers should differentiate between housing finance-related issues of real importance to the greater public interest, and those that concern only special interests.

Varo Money, an app designed for people who want to exclusively bank on their cell phones, announced Tuesday that it has filed formal applications for a national bank charter, adding another credit union competitor to the banking landscape.

Citi is holding its first investor day since the financial crisis, plugging credit cards and its Mexican business; Morgan Stanley's market cap tops Goldman's for the first time.

Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Apple Pay expands with JCPenney; Western Union, BP team in Australia; Citi collaborates with Cornell; Three Square Market plans ID chips in staff.