PayThink

For large banks, the risks of partnering with marketplace lenders do not matter. But small community banks can't afford to partner with competitors angling to poach their customers.

"Rent-seeking" is a widely recognized economics term that refers to when people or groups try to obtain economic benefits for themselves through a subsidy in the political arena. In Washington, the term has special significance. Special-interest groups regularly try to gain subsidies by securing a special regulation that disadvantages competitors.

With the risk-taking culture at big banks — including that which contributed to the Wells Fargo fiasco — it's a good thing the House bill to weaken Dodd-Frank will never become law.

New recommendations by the Federal Reserve Board are a crucial step in the direction of much-needed restructuring of the U.S. financial sector.

Nearly a year after the October 2015 liability shift, a mere 17% to 37% of all US merchants have adopted EMV POS terminals.

As the Consumer Financial Protection Bureau proposes new small-dollar lending rules, it has also sought comment on an alternative plan that would open the door to banks providing more lower-income credit solutions.

While the retail lobby won in the political arena and successfully decreased its costs through price-fixing, the biggest loser in this situation was the American consumer.

With new fintech investments tapering off and banks starting to get the hang of digital innovation, young companies need to take a hard look at their business models.

It is inevitable that the masses will adopt cryptocurrencies.

Heightened risk management standards and the "three lines of defense" are supposed to help banks ward off scandal, but they failed miserably.