Economic news

An e-wallet in development would give tech companies the ability to provide millions of customers virtual bank accounts and to offer perks such as car loans or discounts on home rentals to those who keep money stashed there.

Service would help with compliance; JPM CEO sees more short-term lending rate spikes if no long-term solution implemented.

Caitlin Long, member of the Wyoming Blockchain Task Force, explains why the state has enacted 13 blockchain laws and what they mean for fintechs and banks.

Issuance of securities backed by the ostensible Libor replacement hit by money market turmoil; Jho Low will surrender luxury assets.

American Banker Capitol Hill reporter Neil Haggerty shares how the D.C. community reacted to Mark Zuckerberg’s congressional testimony and how it looks at the project now.

Concerns over banks’ level of preparation have led to worries about disruptions in the lending market, and some financial institutions warn that a new interest rate benchmark could cause lenders to pull back on credit.

The Rakuten application has opened another front in the battle over nonfinancial companies' ownership of banks.

Facebook CEO says the company won’t purse Libra anywhere if U.S. regulators disapprove; the agency says “guidance” was actually “rules.”

The athletic brand tapped former eBay Inc. head John Donahoe to replace Chief Executive Officer Mark Parker next year in the biggest sign yet that Nike wants to be seen as a technology business. Like Starbucks Corp., which hired a Silicon Valley veteran as CEO in recent years, Nike is joining a parade of retail companies remaking their image.

A federal judge says the agency can’t issue national bank charters to fintechs; Facebook’s CEO will state his case at a House hearing.

As e-commerce becomes international, American merchants should embrace alternative payment methods in other countries, says PPRO U.S.'s Steve Villegas.

At a House hearing covering a whole host of housing finance reform topics, Fannie Mae and Freddie Mac's regulator said "if the circumstances" call for eliminating investors, "we will."

The Massachusetts senator and presidential candidate warned the Treasury secretary not to use the incident as a rationale for weakening regulations.

With the social media giant under heavy scrutiny for its cryptocurrency plan, the company's CEO plans to tell lawmakers that the Libra Association will take the lead.

The Ohio company, scheduled to report third-quarter results Thursday, blamed the decision on the squeeze interest rates are putting on revenue.

The JPMorgan Chase CEO called Facebook's cryptocurrency project a "neat idea" but added his name to the list of industry leaders and policymakers skeptical about the plan.

The banking industry will continue its fight against the credit-loss rule; the bank posted gains in consumer, wealth management and commercial lending.

Executives sent a letter to the federal banking regulators last month expressing concern that an alternative to the London interbank offered rate could limit credit availability.

Banks shouldn't let the legal and regulatory hurdles deter them, attorney Felix Shipkevich says.

Rapid-fire acquisitions, partnerships and investments in the likes of Uber, Lyft and Grab are transforming these ride-sharing providers. And much of this activity is built on their ability to handle payments seamlessly as part of the experience.