Policy & Regulation

The $18.8 billion in net income was 70% less than a year earlier as the uncertain economic picture and new accounting rules drove a sharp rise in provisions for future losses.

If Trump is reelected, his administration would likely move forward with privatizing Fannie Mae and Freddie Mac and relaxing key rules, while a Joe Biden presidency would likely try to expand homeownership access and borrower protections.

A borrower advocacy group is asking federal banking regulators to investigate PayPal and Synchrony Financial, which partner on a product that is used to offer high-cost education financing.

The agency said national banks could close offices “at their discretion” as a safety precaution if they are affected by fires in California and Colorado.

New York’s attorney general is investigating whether President Trump’s company inflated the value of his assets to secure favorable terms for loans, according to court filings. Testimony from his son Eric Trump is being sought as part of the case.

Banks can capitalize on Amazon’s ambitions by teaming up to launch financial products and services aimed at coveted customer segments. But they should beware the legal and regulatory pitfalls.

The Fed's faster payments platform may well roll out in three or four years, but by then it will already be outdated.

The GOP is unlikely to discuss much policy that affects financial services this week during its national convention, though there could be remarks addressing controversial changes to the U.S. Postal Service.

The Federal Reserve could ease capital rules, foster the creation of special-purpose banks and take other steps to strengthen minority communities and businesses without legislation being sought in Congress — if it has the will to do so, experts say.

The global digital currency race has heightened the threat to traditional monetary policy and the dollar’s dominance, enough for the Federal Reserve of Boston to make a concerted effort to keep pace.