The Latest

Canadian telecommunications companies Manitoba Telecom Services (MTS) and SaskTel now offer their customers mobile payments through TD Bank.

With support from Bank of America, a nonprofit lender is trying to revitalize Detroit by offering no-down-payment mortgages at up to 150% of a home’s assessed value. The idea is to provide borrowers with enough cash to buy run-down homes and fix them up, and if the program works as promised it could prove to be a template for lending in other cities — like Baltimore — that have large swaths of boarded-up homes.

Canadian telecommunications companies Manitoba Telecom Services (MTS) and SaskTel now offer their customers mobile payments through TD Bank.

Land of Lincoln CU, Suffolk FCU and more announce new hires, promotions and board elections.

Bank of America's Irish unit shifted $8.7 billion of capital to its U.K. parent last year as it continued to shrink Irish operations and move assets to London.

Chicago officials are scrambling to salvage short-term credit lines and liquidity arrangements after Moody's Investors Service downgraded its bonds, which triggered events in the city's credit contracts allowing banks to demand as much as $2.2 billion.

The U.S. Justice Department is set to rip up its agreement not to prosecute UBS Group AG for rigging benchmark interest rates, according to a person familiar with the matter, taking a new step to hold banks accountable for repeat offenses.

Global financial inclusion efforts have made big strides, but documentation requirements continue to hinder access to financial services, and women and the poor remain disproportionately underserved, according to the World Bank's annual study.

A new wave of artificial intelligence applications work by crunching financial data to answer customers' questions. This may give financial institutions a leg up over their nonbank competitors, since the latter group tends to lack vast reserves of people's financial information.

"Big data" has been all the rage in the payments industry in recent years. While the hype seems to have subsided a bit, that might be because the most dedicated data-using merchants have put their heads down to focus on sifting through the data to investigate fraud.