Economy

In a letter to Director Mark Calabria, 17 organizations requested an additional 60 days to weigh in on the proposal meant to strengthen Fannie Mae and Freddie Mac's balance sheets post-conservatorship.

For the next several decades, more and more assets will be managed through blockchain, and the world of digital assets will thrive, says DeFiner.org's Jason Wu.

Six of the eight regional banks that announced their stress capital buffers on Tuesday said they will need just a 2.5% cushion to weather an economic downturn. All eight said they’ll keep their dividends steady.

The online TV giant will start by moving $25 million to a fund that invests in minority-run financial institutions that serve low-income communities and depositing $10 million into Hope Credit Union in Jackson, Miss.

Eric Luse, who co-founded the Luse Gorman law firm, helped Community Bank Shares of Indiana create the first MHC in the early 1990s.

In response to the Federal Reserve's stress tests, Wells said it will lower its third-quarter distribution to shareholders. Meanwhile, JPMorgan Chase, Goldman Sachs and five other companies announced stress test capital buffers that exceed the minimum requirement.

A spike in demand has led to a bigger emphasis on innovative solutions for the digital payments market.

Amex is offering cash rewards on a global scale for customers who shop at small businesses that are trying to recover from coronavirus lockdowns. The card brand also pledged $10 million to support Black-owned small businesses over the next four years.

A spike in demand has led to a bigger emphasis on innovative solutions for the digital payments market.

Even the independent sales organizations that heeded the warnings of colleagues and experts for the past decade about not letting advancing payments technology pass them by weren't fully prepared for what the coronavirus pandemic would throw at them.

Some observers said the central bank should have suspended dividends entirely in response to an unprecedented economic emergency caused by the pandemic. Others said its more cautious moves were appropriate because big banks' capital is strong and the economy could bounce back.

A recent blog post argues that the industry must get ready for the possibility of the Federal Reserve lowering rates below zero.

In the most sweeping capital distribution order since the financial crisis, the Federal Reserve says it will prohibit big banks from buying back their stock in the third quarter and limit dividend payments to second-quarter levels.

Deferral periods on scores of commercial loans will soon be ending, and many banks’ profits this year could turn on whether borrowers can resume making payments or will seek extensions.

Big firms need nimble operators to create streamlined processes that match shifting customer behaviors, says DealRockit's David Carmell

When looking back at the pandemic, customers will only remember which companies went above and beyond for them, says Adobe's Mark Masterson.

Top executives from Citigroup and Goldman Sachs offered warnings Wednesday about why the U.S. economy may be slow to bounce back from the coronavirus pandemic.

Business continuity plans should be used constantly, not just when the crisis is at its peak, says the New York Fed’s head of financial services.

A global health crisis. Economic free fall. A reckoning over racism and inequality. We will not be the same after this — and neither will banking.

Challengers like Joust, Lili and NorthOne that offer banking services to freelancers and small-business owners are getting record levels of new customers as the traditional workforce thins.