The Latest

Minnesota lawmakers plan to introduce legislation next year to curb payday lending after a previous proposal failed that would have limited the number of loans consumers can take out to four.

Fannie Mae and Freddie Mac have a regulatory mandate to shrink. But that's easier said than done, given the GSEs' outsized presence in the mortgage industry, as their latest quarterly results show.

The U.S. Justice Department is looking into Citigroup's dealings with companies linked to Mexican billionaire Carlos Hank Rhon as part of an expanding investigation into the bank's money-laundering controls.

While marketplace lenders have introduced valuable innovation into financial services, they carry a fundamental flaw that threatens to undermine their business, destabilize financial markets and cause real economic hardship.

After more than 20 years at the helm of Members Source Credit Union here, Charles Donovan is retiring.

Cheviot Financial in Cincinnati has elected James Williamson chairman.

Promontory Strikes Back; Citizens Scolded

Bank of Hawaii in Honolulu has hired Sheh Bertram as chief information officer.

Entegra Financial in Franklin, N.C., has agreed to buy two South Carolina branches from Arthur State Bank in Union, S.C.

The end of the swipe-and-sign era is right around the corner, and merchants such as bars and restaurants could face major risk as of October if they haven't migrated their point of sale systems to accept EMV.