Economic news

House Financial Services Committee Chairwoman Maxine Waters and Rep. Patrick McHenry, the top GOP panel member, said Facebook must testify about Project Libra.

Many people still distrust banks, but many also look askance at the social media giant, making it an unlikely savior of the unbanked.

The White House general counsel’s office weighed the legal implications of stripping Powell of his chairmanship and leaving him as a Fed governor, the people said, in what would be an unprecedented move.

President Trump sharply criticized Jerome Powell in an interview aired Friday, blaming the Federal Reserve chairman for raising interest rates.

Singapore ride-hailing giant Grab held talks to acquire payments provider 2C2P Pte and was turned down, according to people familiar with the matter, a sign of the ambitions Southeast Asia’s most valuable startup has in financial services.

The large credit card issuers are becoming more selective about who they are extending credit to and how much they are willing to lend, their CEOs said Tuesday.

The ride-sharing heavyweights Uber and Grab built their markets by making payments seamless, and their expansion plans are similarly hooked into improving payments and other financial services.

The agency’s new guidance would limit some nonprofits’ ability to help borrowers pay their down payments, leading to higher home costs.

The president says the Fed is giving China a competitive advantage; bank stocks gained after tariffs on Mexican imports nixed.

The banking industry isn't prepared to transition away from a key financial benchmark in 2021, and steps need to be taken now to avoid market disruptions.

The head of Fannie Mae and Freddie Mac’s regulator blamed “burdensome” local regulations for a lack of housing supply, and also provided an update on the administration’s plan for GSE reform.

The Federal Communications Commission is expected to consider changes that would allow consumers to block calls from numbers not on their contacts list while the House should vote to extend the National Flood Insurance Program.

Although Libor will will not be phased out until at least 2021, Randal Quarles said making the switch early is "consistent with prudent risk management."

In a presentation Thursday, co-COO Gordon Smith expanded on Jamie Dimon's recent comments about frustrations in the mortgage market, was upbeat about branch profitability and discussed some of the bank's Chase Pay challenges.

Uber Technologies Inc. is going nationwide with a program that helps those without a car — or the financial means to get one — drive for the ride-hailing giant.

One credit union economist says tit-for-tat on tariffs could slow economic growth but will not result in an economic downturn.

Payment solutions that lower the cost of electronic payments through exchange rate transparency ultimately improve the buyer’s relationships with their suppliers, writes Nvoicepay's Alyssa Callahan.

At a time when costs continue to soar and regulators weigh reforms for Fannie Mae and Freddie Mac, more than half of the Democratic presidential candidates have talked about housing on the campaign trail.

New president suggests less regulation and meets with bank leaders; state and city check for illegal lending activity.

Ahrendts, 58, joins the home-sharing startup after a five-year stint overhauling Apple Inc.’s retail operations.