Economy

The government must continue to provide support for the mortgage market in any new housing finance system, Treasury Secretary Steven Mnuchin said Tuesday.

If the company they plan to establish comes together and works — still a big if — it could give JPMorgan an edge in competing with other banks, lead to innovative payments and other products and create unforeseen issues.

The pioneering brand re-enters a market where fintechs now account for over 30% of personal loan originations.

Consolidation can help community institutions better tackle the many regulatory and financial challenges facing them.

Retracting an Obama administration policy that shielded banks servicing marijuana companies threatens financial firms and makes the pot industry too reliant on cash.

Four financial trade associations sent a letter to Senate leaders touting the regulatory relief bill as "example of how our elected leaders can advance necessary solutions by working together and across the aisle."

The Financial Stability Oversight Council should ignore two recent Treasury Department recommendations regarding the labeling of systemically risky nonbanks.

Some bankers spread the religion of this year's feel-good World Economic Forum, but others were more circumspect. The list of potential threats remains lengthy — including trade wars and the bursting of the bitcoin bubble — and all pose risks to banks and the economy.

Kim Manigault, who previously was chief financial officer for the company’s technology and operations organization, will be responsible for ensuring that Key continues to make diversity and inclusion a priority in hiring.

The special round of certification will close on Feb. 16, and credit unions approved for CDFI status will be notified by the end of March.

The Japanese cryptocurrency exchange Coincheck says roughly $400 million of the digital currency NEM was stolen. If banks and others are to invest in the digital-asset industry, it will have to do better.

The Louisiana company recorded charges tied to recently passed tax reform and the purchase of Sabadell United Bank.

Marathon International Bank would target the Ethiopian community with specific advertising and educational programs.

The Texas bank also capitalized on rising rates and a positive adjustment to deferred taxes tied to tax reform in reporting a double-digit gain to profits in the fourth quarter.

Plans by IDT and MercuryFX to test XRP for cross-border payments are another vote of confidence for Ripple’s products.

The Community Home Lenders Association sent a letter to the Senate Banking Committee on Wednesday laying out its priorities for GSE reform.

Supporters of an unreleased bill to revamp the housing finance system say the plan strikes a middle ground that can gain support from both sides of the aisle.

The Chicago custody bank won new fund-administration business and benefited from the acquisition of a UBS asset-management unit. A one-time adjustment tied to the new tax law also provided a boost.

SoFi's experience shows that the most prominent names in fintech, while generating massive financial support, still operate in a very volatile world.

The New York company recorded more than $130 million of expenses tied to its October purchase of Astoria Financial.