Economy

The state of Washington halts a plan to update its 15-year-old member business loan rule while the federal regulation undergoes a legal challenge from the Independent Community Bankers of America.

Funding of startups will cool overall, but venture capitalists anticipate growth in new areas of financial services that are ripe for innovation, including wealth management, insurance and back-office operations.

The Federal Trade Commission took a victory lap Tuesday in its fight with race car driver Scott Tucker and his payday lending operation.

More than $100 billion in securitized commercial mortgages come due soon, many of them still underwater.

The $21 billion-asset bank said Monday that it had hired John Gannon as group manager of Small Business Administration lending and Clyde Thompson as credit officer.

Google is placing more emphasis on hardware and voice-controlled assistance, and its payment technology is coming along for the ride. Here's a look at Google's history in mobile payments—what worked, and what got cut over time.

Facebook officially launched Marketplace today to make it easier for its users to buy and sell stuff with others near them. But for the time being, Facebook is keeping the payments aspect of this project at arm's length.

Prosper Marketplace is closing the secondary market for its loans, citing a lack of demand among investors.

U.S. Bancorp has agreed to settle a lawsuit that claimed it neglected to maintain foreclosed properties in Southern California after the 2008 financial crisis.

Restoring consumer confidence in financial services won't be easy after the latest banking brouhaha, but the Consumer Financial Protection Bureau can help by proactively holding all mortgage loan officers to the same federal licensing standard.

Strong home sales are boosting originations of Federal Housing Administration loans and opening the door for first-time buyers — developments that could portend the mortgage insurance agency receiving a positive report from auditors this fall.

Orrstown Financial in Shippensburg, Pa., has agreed to pay a $1 million to settle charges that it misled investors as it raised capital in the wake of the financial crisis.

In a stunning move, the European Union signaled that it will not follow the Basel Committee's recommendations on standardized credit, operational and market risk rules, citing concerns that the direction of the proposals would unduly increase capital requirements and stifle economic growth.

Last week's Senate hearing was bad for Wells Fargo CEO John Stumpf, but Thursday's House appearance was even worse. Lawmakers moved beyond calling for Stumpf to resign, and said Wells Fargo should be broken up and Stumpf should go to jail.

WASHINGTON — More than one hundred House Democrats sent a letter to Consumer Financial Protection Bureau Director Richard Cordray on Wednesday calling for the agency to strengthen its proposal to rein in payday lending.

Gary "Litefoot" Davis, a member of the Cherokee Nation in Oklahoma and a music and on-screen personality, was named executive director of the Native American Financial Services Association.

Federal Reserve chair Janet Yellen testified for the second consecutive year on regulatory issues, touching on the Fed's stress tests, banks' ownership of commodities, the fate of Wells Fargo and whether the central bank acts in a political fashion.

WASHINGTON — Members of the Senate Banking Committee introduced legislation Wednesday that would make municipal debt securities more attractive to banks.

Following industry objections to how the Federal Deposit Insurance Corp. defines brokered deposits, a House panel heard testimony Tuesday on a series of bills that would amend the definition.

The Federal Housing Administration issued a proposal Tuesday that would make it easier for lenders to secure government guarantees for condominium loans.