Banking

Lawmakers and others faulted the agency's foot-dragging on approving licenses and funding requests for small-business investment companies, whose owners include banks.

New York and 10 other states are looking into whether companies in the fast-growing sector are violating payday lending laws.

Vice Chairman Randal Quarles’ public dissent raises questions about how the board will proceed on other policy debates.

Mall landlords accustomed to offering rent reductions to ailing retailers are mulling a new strategy to forestall the industry's collapse: positioning themselves as lenders to tenants struggling to stay afloat.

The card company is buying the corporate-services businesses of Danish payments provider Nets A/S; the online lender’s stock plunged after it missed second quarter earnings expectations.

The information you need to start your day, from PaymentsSource and around the Web. Today: Critics pounce on Libra's privacy; Paytm diversifies; Mastercard combats fraudulent fashion; Singapore plans new digital payment regulations.

The industry faces additional risks when members take out auto loans and then list their new vehicles on apps for others to rent.

Consolidation heated up in recent weeks after a tepid start this year. Here is an overview of noteworthy deals announced in June and July.

The San Francisco company forecast a modest profit in the third quarter because its cost-cutting plans are ahead of schedule. It's also starting a program to sell riskier loans to sophisticated investors.

Lenders could struggle to reprice deposits fast enough to offset downward pressure from adjustable-rate loans and refinancing.

Melinda McClure and Richard Horn have joined the management team at Old Dominion Bank in northern Virginia after struggling to raise enough capital for their de novo effort.

The Upstart Network, the first and only startup to participate in the bureau’s program for promising digital platforms, claims that using nontraditional credit data items has helped loan volume and affordability.

The Atlanta fintech, whose shares have plummeted since it went public last year, also said it will stop providing financial guidance to its investors.

The Los Angeles unit of Royal Bank of Canada plans to use FilmTrack to handle more complex transactions for major networks, studios and distributors.

Krista Morgan, the founder and CEO of P2Binvestor, discusses her firm's bank deals and the tech driving its platform.

The payments system, called FedNow, would go head-to-head against one built by big banks; the senator from Oregon wants Amazon to address vulnerabilities in its cloud data storage.

The information you need to start your day, from PaymentsSource and around the Web. Today: Mastercard looks for crypto experts; Monzo's security gap; Payveris's CUSO picks up investment; Ohio State goes digital for sports tickets.

The company will pay $43 million in cash for a bank with seven branches and $209 million in deposits.

With margins under pressure and competition intensifying, a number of community banks are zeroing in on underserved markets.

Addressing payment security and achieving interoperability with a rival, private-sector network are just some of the challenges the central bank faces in building a government-backed real-time payment system.