Economy

John Allison, a contender for President-elect Donald Trump’s Treasury secretary, is a staunch opponent of the Federal Reserve Board, the Basel international accords, the government’s support of the housing finance industry and the Dodd-Frank Act of 2010.

With the election of Donald Trump in the U.S. and an increasingly isolationist mood pervading European banking regulators, the international Basel III accords that underpinned much of the global post-crisis regulatory framework face an uncertain future.

The president-elect could take aim at the Federal Reserve's ties to Wall Street, bailout authority and other reforms if he really means to take steps to help working people.

The election results will only intensify factors making competition with bank lenders more difficult, including the effect of interest rates as well as the regulatory environment.

Payday lenders are seeking a court injunction to stop what they say is a concerted effort by federal banking regulators to cut them off from the mainstream financial system.

The Atlanta Federal Reserve Bank was already under pressure to replace outgoing president Dennis Lockhart with a person of color – preferably the first African-American to head a Fed bank. But the election of Donald Trump has compounded the importance of the pick.

Huntington Bancshares in Columbus, Ohio, said it plans to add 1,000 jobs by 2024 at a new office complex in Columbus and lend $300 million to low- and moderate-income communities in the city over the next five years.

The transition team for President-elect Donald Trump announced a series of names this week for people who will help facilitate an orderly transfer of power at the federal financial regulators.

The pending purchase of Carlile Bancshares will lower Independent's concentration in commercial real estate, while introducing the company to fast-growing markets in Texas and Colorado.

President-elect Donald Trump said in a tweet Tuesday that he is considering Dr. Ben Carson – one of his opponents in the Republican primary – to head the Department of Housing and Urban Development.

If President-elect Donald Trump selects House Financial Services Committee Chairman Jeb Hensarling as his Treasury secretary, it would be a clear sign that he intends to embrace a more traditional Republican agenda when it comes to financial services issues.

The megabanks that emerged relatively unscathed from the crisis are cited as proof of universal banking's benefits, but recent events have debunked that claim.

As more Chinese citizens travel abroad, payment companies are lining up new products and collaborating with third parties to reach the growing market.

Cody Wilson, inventor of the world's first 3D-printed handgun, has struggled to keep his radical business going after banks and payments companies repeatedly cut him off. His story offers an unusually detailed window onto the dynamics of de-risking.

Employees at the Treasury Department's Office of Financial Research have raised concerns about racial discrimination and dysfunction at the agency, according to internal documents and videos posted online.

A bill looming in Congress would require the Internal Revenue Service to accept electronic transmission of lending-related forms, which could speed up the lending process by days.

Global banking regulators said some U.S. lenders present a bigger risk to the financial system than last year and should face stiffer capital requirements to ward off threats.

Politicians clamoring for the largest U.S. institutions to be broken up have failed to consider the prospect of China acquiring a bigger piece of the American banking system.

Charitable giving is a big part of contactless payment innovation, and Quest Payment Systems is hoping to gain share in the Australian non-profit market.

The Federal Communications Commission has denied a request to exempt servicers from getting consent before robo-calling borrowers' mobile phones, rejecting arguments that the waiver would enable the mortgage industry to better help delinquent borrowers.