Economic news

Its early days yet, but decentralized apps will democratize finance, says Andrew Keys, cofounder of ConsenSys Capital, the financial services arm of ConsenSys.

Despite some growing support for central banks issuing digital currencies, the practice raises important privacy concerns and questions about the structure of the banking system.

The coming year will bring a wave of data-sharing deals between banks and fintechs, increased bank use of automated advice, marked changes to financial jobs as a result of automation, and much more.

The central bank chairman said Friday that he would not step down if asked to do so by the president, adding that he has not received any direct communications from the White House about the agency’s interest rate policy.

Facebook’s WhatsApp unit has been testing its payments app in India since May; investors price in an almost a 90% probability of no Fed hikes this year.

While the gig economy has become more prevalent in recent years, the traditional banking market has provided few innovations for tackling the various payment-related challenges faced by businesses which utilise these workers.

The industry has largely avoided added federal oversight after the Equifax hack; the product has created a “financial albatross” as consumers game the system.

An effort to increase awareness of the transition to a new benchmark rate, and nudge banks to start preparing, is expected to intensify in 2019.

The 2019 outlook for China’s cross-border e-commerce sector remains positive due to strong consumer demand, favorable regulations and tech-savvy shoppers’ interest in convenient mobile pay options, writes Franklin Chu, managing director for Azoya USA.

Despite some growing support for central banks issuing digital currencies, the practice raises important privacy concerns and questions about the structure of the banking system.

The mortgage industry heads into 2019 with little relief from the market strains of the past three years. To succeed — or at least survive — lenders must confront major questions about demand, affordability and market consolidation.

The industry could see a boost in mortgage lending from regulatory changes, but other factors may slow growth.

Media reports say President Trump is polling advisers on whether he can fire the head of the central bank. He probably can't, but that may not stop him from trying.

President Donald Trump has discussed firing Federal Reserve Chairman Jerome Powell as his frustration with the central bank chief intensified following this week’s interest-rate hike and months of stock-market losses.

The House Financial Services Committee held a hearing to examine the outgoing committee chairman's bipartisan GSE reform bill, but lawmakers were already looking ahead.

The NYSE contract will pay out in cryptocurrency; 10 Estonians who worked at the Danish bank were detained, and prosecutors promise more arrests.

Federal Reserve Chairman Jerome Powell demurs on regulatory relief for largest banks while saying he is “open” to countercyclical buffer.

Atlantic Equities’ John Heagerty cut his recommendation on JPMorgan Chase to neutral, saying the bank now “offers the least upside” to price targets among the major banks.

The bank’s efforts to show its ethical side may be “undone” by Malaysian scandal; airlines co-branded cards helping profits … for now.

Many banks and government officials are dubious about crypto, but Ohio Treasurer Josh Mandel lets businesses pay their taxes with it and has put all the state government’s expenses on a public ledger.