Economic news

President says Facebook could face “full banking regulation”; big banks’ farm loan portfolios have shrunk more than 17% since 2015

The central bank has a long history of fighting reforms to the Community Reinvestment Act, until now.

The Justice Department is investigating the bank for possible money laundering violations; the Fed chair says Facebook’s plan raises “serious concerns.”

Finding a fast and easy way to receive payments remains a top priority for these businesses. And yet, they are frequently left out of the industry’s faster payments conversation, writes Steve Robert, co-founder and CEO of Autobooks.

Powell sees need to "keep firms on their toes" while Quarles wants easier tests; €52 million paid to leaving execs nears total paid to board.

As the urban mobility trend of scooter rentals continues to grow, PayPal's Hyperwallet will have a role in handling outbound payments from rental platform Lime to its network of freelancers who recharge the fleet of scooters.

What Facebook really needs is another heavyweight like Amazon or Google to help spur cryptocurrency competition.

Federal Reserve Chairman Jerome Powell’s job is safe for now, according to Larry Kudlow, top economic adviser to President Donald Trump.

Amazon is moving into new markets armed with local storage lockers and partnerships, while many traditional retailers still lack the proper online capabilities, claims Arik Shtilman, CEO and co-founder of Rapyd.

Lawmakers have just three weeks before their August recess to make a host of decisions on issues related to credit unions.

Just four months after receiving an e-money license from Central Bank of Ireland, fintech startup Soldo has raised €54 million ($60.5 million U.S.) to help fund its relocation from the U.K. into Ireland ahead of the possible Brexit split.

BBVA has formed a partnership with Uber enabling the ride-hailing company’s drivers and delivery workers in Mexico to establish a digital BBVA debit account through Uber’s app.

AI-focused venture fund Radical Ventures is the lead investor in a $31.5 million Series B round in Sensibill, which boosts it overall financing to $46.5 million. National Bank of Canada is also part of the investment round.

Facebook’s cryptocurrency pilot highlights just how important it is for regulators and banks to figure out where they land in the emerging monetary digital age.

What Facebook really needs is another heavyweight like Amazon or Google to help spur cryptocurrency competition.

Christopher Waller is a conventional choice drawn from within the Fed’s own ranks. Judy Shelton has spent decades outside mainstream economics. But both are expected to echo the president’s call for lowering interest rates.

The president says he’ll nominate Judy Shelton, Christopher Waller for Fed; the bank reportedly in talks to sell parts of its “once prized” equities business.

The rush to hold hearings in both the House and the Senate reflects broad skepticism across the political spectrum about the social network's plan to develop an alternative payment system.

A California man says the company sent his medical information to a friend of his; the Big Four's monopoly may be coming to an end as Citi and others move in.

Facebook’s cryptocurrency pilot highlights just how important it is for regulators and banks to figure out where they land in the emerging monetary digital age.