Economic news

EU states such as Belgium, Lithuania and Ireland are offering e-money institution, payments institution or banking licenses to fintechs, which can be passported across Europe, in anticipation of the U.K. losing its ability to do so after Brexit. But there is no cross-border deposit protection for European consumers holding accounts at EU banks with passported licenses.

Several new members of the House Financial Services Committee with backgrounds in housing could use their experience to address Chairman Maxine Waters' top agenda items.

Rep. Patrick McHenry, R-N.C., the ranking member of the House Financial Services Committee, wants the panel to look into how Britain's move to leave the EU – which has rankled credit unions across the pond – is impacting the U.S.

Rep. Patrick McHenry, R-N.C., the ranking member of the House Financial Services Committee, urged Chairwoman Maxine Waters, D-Calif., to prioritize certain "critical areas" in the new Congress.

Those of us who have found ourselves in roles as stewards of the public trust in this sector are finding agreement in a variety of protocols that bridge even the stodgiest savings account with the coolest app-based e-wallet, writes Bryan Woods, president of Spend Inc.

The use cases for faster payments are typically considered to be somewhat niche. But if any payment can be made in real time, why should full-time employees wait two weeks for every paycheck?

CFPB to scrap key underwriting portion of payday rule; Fiserv-First Data — why small banks fear big fintech; banks, credit unions help federal workers hurt by shutdown; and more from this week's most-read stories.

JPMorgan Chase Chief Executive Jamie Dimon said he thinks a hard Brexit is unlikely but would be a "disaster" if it happened.

Ten weeks remain until Great Britain is set to leave the European Union, but the chaos of the entire Brexit process brought much of the British credit union industry's regulatory priorities to a halt.

A no-deal Brexit could throw the international swaps market into disarray in a way that could be difficult to predict, and could have dire consequences for U.S. banks and the world economy.

Its mobile banking app comes with bank accounts, merchant accounts, and instant credit on invoices. Behind it is a network of community banks that will gather the deposits the app brings in.

U.S. companies have a leg up on international competition. Yet, many retailers are opting to focus on domestic customer bases, claims Steve Villegas, vice president of partner management at PPRO.

Thin margins and lengthy payment cycles can make cash flow challenging, but the payment terms of an invoice can ease some of that pain, contends Brandon Spear, president of MSTS.

Whether it's the OCC's special-purpose charter, ILCs or some other option, observers see fintechs being able to obtain banking powers.

It may seem shortsighted, but online retailers need to be laser focused exclusively on what has traditionally worked to maximize online sales, writes Devaraj Southworth, co-founder and CEO of Thirstie.

Cross River Bank has formed a partnership with Stripe that will handle every debit push payment within its platform in near real time via Mastercard Send and Visa Direct.

In venturing into what's normally a province of large banks, nbkc in Kansas City, Mo., discovered innovative tax-management and other products that it could offer to its own customers or sell to other banks.

Despite controversy surrounding Ripple’s digital token, one bank is pushing forward to use it in cross-border payments.

4.5% rates could trigger more homebuying and refinances; Sherborne Investors wants a seat on the bank’s board so it can facilitate change.

Former Federal Reserve economist Nellie Liang withdrew from consideration for a seat on the central bank’s board of governors, the White House announced Monday.