Economy

The Office of the Comptroller of the Currency has gotten the ball rolling for financial technology firms trying to operate a national platform, but the FDIC and Federal Reserve should act to remove other policy roadblocks.

An accusation of sexual discrimination plays out in court for BNP Paribas; Jeffries’ top execs chastise Wall Street men over #MeToo paranoia; blockchain startup loses Blythe Masters; and RBS might make history with a female CEO-CFO duo.

The payments processor was among numerous firms earlier this year to withdraw an ILC charter application over questions about its plan.

Banks were reluctant to offer services to an industry that had a hazy legal status. That’s about to change.

Federal Reserve Chairman Jerome Powell demurs on regulatory relief for largest banks while saying he is “open” to countercyclical buffer.

Though it became official in January in the U.K., most people there don't know what it is, according to a new survey that offers many insights for U.S. banks.

The objectives of a Financial Crimes Enforcement Network rule requiring financial institutions to collect “beneficial ownership” details are laudable, but the regulation can be subverted by unscrupulous customers.

A proposal allowing more lenders to skip outside appraisals could remove a hurdle to quick closings, but appraisers say they could be collateral damage.

The current deputy secretary of the Department of Housing and Urban Development, Pam Patenaude, will step down in January.

As Congress races to fund the government, a criminal justice reform bill could also include the STATES Act, which would provide safe harbor for credit unions serving the legal marijuana industry.

The Office of the Comptroller of the Currency has gotten the ball rolling for financial technology firms trying to operate a national platform, but the FDIC and Federal Reserve should act to remove other policy roadblocks.

Chicago Deferred Exchange, which helps clients defer tax hits from property sales, had about $1 billion in deposit flows this year.

What an FHFA led by Mark Calabria would mean for GSE reform; 7 (realistic) predictions about fintech in 2019; Kathy Kraninger signals new tone atop CFPB; and more from this week's most-read stories.

Live Oak Bancshares became an SBA juggernaut by making loans, selling them and making more. With economic conditions changing, it is retaining more credits.

As Congress moves closer to its Dec. 21 deadline to keep the government funded, the outlook for more financial services regulatory relief continues to worsen.

The alternative is waiting for state and federal regulators to take steps that could disrupt the flow of capital and put some firms out of business.

The Federal Housing Finance Agency has proposed barring Fannie Mae and Freddie Mac from using credit scores developed by VantageScore over concern about conflicts of interest with the joint venture of Equifax, Experian and TransUnion.

Sen.-elect Kyrsten Sinema, D-Ariz., and Sen. Tina Smith, D-Minn., will join the panel as their caucus loses two other committee members who suffered election defeats.

Robinhood Financial, one of the most valuable private companies in the financial technology space, is rolling out its take on the traditional bank account starting on Thursday.

The two agencies seek to end the acrimony with the companies they regulate; the government is trying to make it easier for the wounded Deutsche Bank to merge with rival Commerzbank.