Economy

Contrary to doom-and-gloom attitudes of some about banks' ability to compete for millennials' business, the industry will build on its history of innovation to meet the technology needs of future customers.

Michael Stegmanm President Obama's former point man on housing-finance reform, is taking a job with a think tank that has sought to play a major role in shaping rules for a world without mortgage guarantors Fannie Mae and Freddie Mac — at least in their current form.

Kabbage is licensing its digital lending technology to one of Canada's largest banks, which plans to offer an online application process to small businesses.

Microsoft is in the process of rolling out a mobile wallet for its small share of the smartphone market. But the company has been steadily developing this technology across much bigger platforms.

Prosper Marketplace is rolling out a revamped website that is designed to make loans it sells more attractive to individual investors.

Who is Microsoft Wallet for? With just 1.6% of the U.S. smartphone market as of January, it's unlikely that even Microsoft believes Windows Phone users are a huge untapped audience for mobile payments.

Federal regulators will take decisive action if the biggest banks fail to improve their living wills by October, Federal Reserve Board Chair Janet Yellen pledged to lawmakers on Tuesday.

Consumers deserve disclosure and the protections enjoyed by payroll card users, but it is critical that regulations do not put providers out of business.

Steps to improve credit access, evangelize for down payment programs and offer borrower counseling can stop and even reverse the decline in homeownership.

WASHINGTON – Democratic Senators sent a letter Monday to federal financial regulators pressing them to "remain vigilant" while grading big Wall Street banks' resolution plans.