Economy

Industry fears about the Consumer Financial Protection Bureau's "UDAAP" authority recall steps Congress took in the '70s to rein in the Federal Trade Commission.

The Financial Stability Board said Wednesday in its annual report to the G-20 that progress is being made in implementing post-crisis financial reforms, but that implementation of specific initiatives remains uneven across industrialized nations.

General Electric named new heads for its finance and M&A operations as the company prepares for life as a more-focused industrial manufacturer.

As banks start giving work formerly done by humans to artificial intelligence programs, questions about legal and ethical implications arise. The time to impose values on, and set limits for, the technology is now.

Former Mortgage Guaranty Insurance Co. Chairman and Chief Executive William Lacy Jr. died Sunday from respiratory failure. He was 71.

Kansas City Federal Reserve Bank President Esther George is best known nationally as a critic of the Fed's monetary policy, but in a wide-ranging interview she talks about Dodd-Frank, bank capitalization and the challenges facing community banking, in addition to interest rates.

Banks are playing a more active role in the next phase of fintech, both as investors and partners, says David Sica, partner at venture capital firm Nyca. That change is shaping how the firm looks at new investments.

The era of banks and fintech companies cozying up to each other is in full bloom. Fintechs realize they can better disrupt the industry from within, while banks are looking for partners to help them navigate the digital world. Here's a look at how banks worldwide are buying, investing in and in some cases lending to fintech firms.

WASHINGTON – The Financial Crimes Enforcement Network is proposing to extend anti-money-laundering requirements to a limited number of financial institutions that are not already regulated by a federal agency.

Hillary Clinton's proposal for regulatory relief for smaller institutions largely tracks with ideas already discussed, but her backing could keep alive the momentum for a reg relief plan should she win in November.

The endorsement of Glass-Steagall in the recent party convention platforms reaffirmed the powerful hold that the principle of separating commercial and investment banking has on the public imagination.

Nat Hoopes, executive director of a trade group that represents the chief executives of Wall Street banks, is making the jump to fintech.

Many lenders are still reluctant to give mortgages to borrowers with less-than-pristine credit, yet such loans are far more likely than prime jumbo loans to be bundled into collateral bonds. Sreeni Prabhu of Angel Oak Capital credits banks' behavior and higher interest rates for that reality.

Equifax and TransUnion have stopped selling traditional credit reports, forcing lenders to buy their new, more expensive "trended" data reports that mortgage investors aren't using yet.

The Federal Housing Finance Agency announced the extension of the Home Affordable Refinancing Program through September 2017 as well as the creation of a new program for those with high loan-to-value ratios.

WASHINGTON — The American Bankers Association has fired back at a White House research note that argued the Dodd-Frank Act was not driving community bank consolidation.

As the Consumer Financial Protection Bureau prepares to finalize its rule on prepaid cards, the agency must clarify that automated overdraft products – a common reason consumers dump their banks – are not allowed on prepaid accounts.

A long-running dispute between the Department of Housing and Urban Development and the agency's Office of Inspector General over down payment assistance programs is beginning to have an impact on lenders.

Lending Club hired a pair of Wall Street executives to strengthen relationships with investors after many pulled back from buying the loans it arranges online during a tumultuous second quarter.

The Federal Housing Finance Agency is seeking to make it easier for Federal Home Loan Banks to accept certain kinds of collateral for advances.