The Latest

When Walmart switched on Walmart Pay this week at 600 stores in two states, it marked the beginning of a new era, when merchants finally take the reins in mobile payments — and, by extension, the future of digital commerce.

LendingClub Corp., which plunged 51 percent last week after the surprise departure of its leader and disclosure of faulty internal controls, said the scandal is prompting investors to suspend debt purchases and spurring government probes.

The Merchant Customer Exchange, a retailer-backed mobile wallet venture of over three years in the works, has postponed its plans for a national rollout of its mobile wallet.

Two California credit unions, Eagle CU in Lodi and UNIFY Financial CU in Torrance, plan to merge.

At a recent hearing in Harlem, community leaders and others expressed their desire for the United States Postal Service to offer financial services.

The Supreme Court on Monday ruled that private attorneys hired by states are not in violation of the Fair Debt Collection Practices Act when using official letterhead to collect a debt. The case has been watched closely by financial institutions for its interpretation of “false, deceptive or misleading” practices.

JPMorgan Chase and Bloomberg Philanthropies are providing $7.5 million in grants for public education programs that address workforce needs in New Orleans.

WASHINGTON -- M&T Bank has agreed to pay $64 million to settle U.S. government allegations that it originated defective Federal Housing Administration insured loans over a five-year period.

As the Federal Reserve Bank of Minneapolis continues its yearlong inquiry into how to end "too big to fail" in the banking system, academics and economists are starting to home in on a different but related question: How do we keep financial contagion from creating financial crises?