Economic news

John Williams, a monetary policy expert, has been a critic of Wall Street culture and has voiced concerns about financial startups not offering equal access to credit.

The New York Fed has tapped San Francisco Federal Reserve Bank President John Williams as its next president, concluding a search process that has drawn criticism for being inadequately considerate of candidates with more diverse backgrounds.

In an interview with American Banker, the outgoing president of the Federal Reserve Bank of New York discussed changes in supervision, bank culture and his advice to his successor.

The core strategy of Amazon has always been to listen to customer pain points and add valuable benefits over time. It’s how the company disrupted the retail industry. Now it’s time for grocery, writes Tom Caporaso, CEO of Clarus Commerce.

With smaller screen sizes and increased levels of distractions ranging from a text or a notification, pitfalls in the checkout process can result in more abandoned carts than successful transactions, writes Andre Lyver, director of engineering for financial services at Shopify.

The latest Credit Union Trends Report from CUNA Mutual Group predicts robust membership growth in the year ahead and sustained lending growth due to positive economic factors.

The new law, which is modeled on a similar effort in the United Kingdom, aims to lure financial firms to the desert. It has drawn support from business organizations but opposition from consumer groups — a dynamic that is likely to be replayed in other states.

Uber Freight, the ride-hailing giant's load-sharing app for the trucking industry, is collaborating with fleet card giant Fleetcor on a payment card that offers drivers discounts for gas, engine maintenance and tires.

President Trump is expected to announce as early as Thursday morning that he has selected Larry Kudlow, the host of CNBC's "The Kudlow Report," to replace Gary Cohn as head of the National Economic Council, according to multiple media reports.

The fridge, car, home assistant, smart watch, etc., will be able to initiate digital payments both online and on-location, and some will even be able to accept payment as well, and payment companies will need to respond, according to Michel Léger, executive vice president of innovation at Ingenico Group.

As head of the National Economic Council, Gary Cohn played a key role in helping guide the Trump administration on its financial services policy, including regulatory relief and housing finance reform. Institutions are anxiously watching to see who President Trump picks as Cohn's replacement.

Banks increasingly avoid crypto, but Grainne McNamara at PwC has come up with a framework banks could use to participate in the digital currency world.

Deposit prices are starting to rise, deposit growth is slowing, commercial loan growth remains tepid (with some exceptions) and concerns are mounting about the economic toll of U.S. trade policy, bank executives said just a few weeks ahead of the end of the quarter.

Federal Reserve Chair Jerome Powell largely hewed close to his predecessor's positions in his first congressional testimony as the top central banker, but also signaled important changes when it came to paying banks interest on reserves and other topics.

The Federal Reserve Board's vice chairman for supervision said he did not foresee the agency’s regulatory review as significantly reducing capital levels.

eBay’s change of payments processor signals the strong and continuing shift toward local, alternative methods of payment around the world, writes James Booth, head of business development for PPRO.

Cheers to Irene Dorner, who gives Virgin Money its new status as the only major British company with a female chairman-CEO duo. Cryptocurrency is on the minds of some smart women, and Simple tries to be awesome enough to overcome consumer apathy.

There are practical lessons from Amazon's service model that can be applied elsewhere, writes Derek Corcoran, chief experience officer at Avoka.

Deutsche Bank on Wednesday became the first large bank to announce a wholesale relocation of client business out of the U.K., but B of A has extended the lease on its London headquarters, and Northern Trust is searching for a new lease in the city.

Turmoil at the Export-Import Bank, a possible trade war with China and a potential retreat from the North American Free Trade Agreement all add up to high anxiety for bankers in the business of financing U.S. exports.