Economic news

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.

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.