Economy

The Treasury secretary said he hopes lawmakers will back reforms of Fannie Mae and Freddie Mac within three to six months.

Fannie Mae and Freddie Mac investors won a victory in their long battle to reap benefits from their stakes in the mortgage giants with a court ruling letting them pursue claims that the U.S. sweep of the companies’ earnings is illegal.

As credit union leaders converge on Washington, here's a look at some of the biggest legislative and regulatory issues facing the industry – and what it might take to move the needle.

Skip Brown, an executive with Winston-Salem Banking Group, says it has signed a letter of intent to buy a community bank three months after withdrawing a charter application.

A legislative measure would have made the Golden State the first in the nation where aggrieved borrowers could sue their servicers. The bill was delayed until 2020 after banks and other financial companies expressed opposition.

The Trump administration raised the goal posts for ending the conservatorships of Fannie Mae and Freddie Mac, but how officials get there is still highly uncertain.

Next up for BB&T-SunTrust: deciding where to unload branches; how the Trump administration would reform Fannie Mae, Freddie Mac; why the CFPB's payday rule is in the hands of a Texas judge; and more from this week's most-read stories.

The Fed is seeking feedback on a "Building Block Approach" to risk-based capital standards for firms heavily engaged in insurance activities.

The bank helped raise $25 million for the fintech because of its potential to bring banks and nonbanks together in a virtual marketplace.

The NCUA said credit unions can now serve hemp businesses but uncertainty remains around important issues like due diligence.

The Treasury Department made clear in a much-anticipated report that it prefers Congress take up reform of the government-sponsored enterprises, but it also recommended steps that federal agencies could take without legislation.

Stripe is joining the throng of providers offering merchant loans based on payment receivables with Stripe Capital, a service for e-commerce companies already using Stripe for payments processing.

The industry has taken some steps to lower barriers to affordable housing, but some observers say that more can be done.

The banks, which plan to merge as Truist Financial, are expected soon to start selling hundreds of branches in the Southeast to satisfy antitrust concerns and increase efficiency.

With no fintech applicant officially seeking the agency’s specialized charter, Judge Dabney Friedrich said claims by the Conference of State Bank Supervisors still were not ripe.

With officials putting finishing touches on presidentially directed reports on the future of the housing finance system, the Senate Banking Committee announced a hearing to examine the issue.

Citing insurance concerns, Anchorage-based Credit Union 1 shut down its marijuana-banking pilot program after less than one year. The move reflects lingering hesitation around banking the industry.

Months after Denmark’s Nets A/S completed its merger with Germany-based Concardis, the combined operation is rolling out a broad new digital payment service tailored for small businesses in Germany.

The Dallas bank has recruited three executives from Deutsche to establish a unit in New York that holds assets in escrow for clients.

Seeking to expand financial services access, tribal officials and some firms want regulators to award Community Reinvestment Act credit to any bank that funds projects in Native American communities.