Economy

Serial fintech entrepreneur Chris Larsen plans to take a breather. In January, Larsen will hand the reins and the CEO title at Ripple over to Brad Garlinghouse, who is currently the company's president and chief operating officer.

Wells Fargo has named Monica Cole to head middle-market banking for six Midwestern states.

In a speech defending his support of Republican presidential nominee Donald Trump, PayPal co-founder Peter Thiel faulted both major parties for letting recent financial bubbles occur under their watch.

Mortgage brokers were among the companies that received the regulator's warning letters, but brokers are not required to report HMDA data — leading many to suspect mini-correspondents, which straddle the line between broker and lender, were the recipients.

The mortgage industry is welcoming the Obama administration's possibly final word on housing finance reform, hoping it will serve as guidepost for the future.

WASHINGTON — Sens. Elizabeth Warren, D-Mass., and Bernie Sanders, I-Vt., are raising concerns about why independent audits of Wells Fargo's internal controls didn't discover fraudulent account openings by thousands of employees.

A market that some Ginnie Mae issuers tap to help finance their mortgage operations has a dwindling number of investors.

Small businesses hungry for financing will quickly ditch a banking relationship if they are unhappy, according to a new J.D. Power report.

A financial report due out soon could reignite a battle over whether the Federal Housing Administration should again reduce its annual premium.

A Washington, D.C.-based startup that finances higher education in the U.S. for international students announced a $6 million equity funding round.

One of the nation's biggest prepaid card issuers said that it expects to lose 10% to 12% of its current revenue as a result of new federal rules governing the industry.

WASHINGTON – Sixteen Senate Democrats sent a letter to federal financial regulators on Wednesday asking them to strengthen a proposal to restrict executive compensation at financial firms.

The online lender is entering the car-loan market at a time when some banks are scaling back and regulators are sounding the alarm about deteriorating underwriting standards.

Fannie Mae is planning to provide relief to lenders from potential buybacks for loans in which the borrower's income, assets and employment information have been validated through automated underwriting.

Bizfi, a New York-based online small-business finance company, announced the hiring of John Donovan as its new chief executive officer.

Wells Fargo appears to have offered two different reasons for why it failed to inform investors about the investigation into 2 million phony accounts. That could play a role into whether the Securities and Exchange Commission files charges against the bank for disclosure violations.

Based on questions from appellate judges on Monday morning, MetLife appears to be facing an uphill fight to defend a lower court ruling that found federal regulators erred in designating the firm as a systemically important financial institution.

Lenders will get a reprieve from the threat of some mortgage-related penalties under a new program announced by housing-finance giant Fannie Mae on Monday.

Federal Reserve Gov. Daniel Tarullo defended regulators' item-by-item approach toward reining shadow banking activities, saying broader moves could be insufficiently tailored to the conditions of specific firms and activities.

In a move designed to help further calm lender fears about mortgage repurchase liability, Fannie Mae is preparing to offer immediate representation and warranty relief to lenders that use its suite of automated quality assurance technology.