Economic news

Analysts are wondering what the big Japanese technology fund plans to do with its proposed stake in Swiss Re; the insurer takes a onetime $6.7 billion loss due to tax reform.

Cross-border transactions are getting smaller in size and more frequent, rendering the correspondent banking model increasingly obsolete as new use cases pile up.

Rep. Emanuel Cleaver, D-Mo., sent a letter to two virtual currency trade associations on Thursday asking them what their members are doing to prevent hate groups from using cryptocurrencies to finance themselves.

Putting money directly in people’s pockets requires more speed and efficiency through innovative technologies and payments systems, writes Deirdre Ives, managing director of Wirecard North America.

Powell, a former investment banker who has served as a Fed governor, was confirmed by the Senate last month to a four-year term as chair of the central bank.

Her career at the Federal Reserve is one of remarkable accomplishments, but time will tell how her tenure ultimately is remembered in terms of her impact on bank regulation and stewardship of the economy.

Strong holiday spending was marked by active e-commerce spending, providing an impetus to invest in more digital payment technology.

Regulatory scrutiny of Tether and Bitfinex is spooking investors, though others argue the industry remains strong.

The increase was led by new car loans, which rose by 12.7 percent. Approximately 20 percent of the state's population are now credit union members.

Jamie Dimon said his bank could cut more than 4,000 jobs from its U.K. workforce if a suitable deal isn't reached in Britain's exit from the European Union.

Senators overwhelmingly approved Jerome Powell to lead the Federal Reserve Board despite vocal opposition from some Democrats.

Bank will add 400 branches and boost mortgage lending; the company attempts first acquisition since it nearly failed during the financial crisis.

The Office of the Comptroller of the Currency’s semiannual report on industry risk said tougher competition between banks, leading to looser underwriting, could arise from the economic expansion.

The idea that all of the money in cryptocurrencies has already been made misses the point. Innovative and sustainable ideas will emerge from the market frenzy, writes Dentacoin's Mariam Nishanian.

The Federal Reserve’s beige book survey indicates the economy is expanding as household loan demand declines.

As senators weigh anti-money-laundering reforms, they reiterated their desire to include cryptocurrencies as part of legislative discussions.

The Senate Banking Committee had approved Powell already in December, but a revote was necessary after the Senate adjourned for the year without finalizing his confirmation.

An economist for the California and Nevada Credit Union Leagues says trends are positive, but there are concerns that things could change in 2018.

JPMorgan Chase, Wells Fargo are the first to report; payments company will run pilot to see if digital currency speeds transactions and lowers costs.

The San Francisco startup behind the cryptocurrency XRP claims it can send money around the world faster, cheaper and with greater transparency.