Economy

Loans tied to franchises were often an area of concern for banks before the financial crisis. Industry growth, improved credit metrics and a need to diversify commercial loan portfolios are prompting several banks to take a second look at the business.

WASHINGTON — Republican lawmakers put Department of Housing and Urban Development Secretary Julian Castro on the hot seat Wednesday, criticizing his decision to allow nonprofit community groups to bid on more nonperforming Federal Housing Administration loans.

The hit smartphone game Pokemon Go is not a mobile wallet or a loyalty app, but it is arguably far more successful at driving traffic to retailers' stores than many of the apps designed for that purpose.

Online marketplace lenders found themselves in the congressional crosshairs Tuesday just as some lawmakers are attempting to provide the industry with sought-after reforms.

The debate over Rep. Jeb Hensarling's bill to overhaul the Dodd-Frank Act is increasingly focusing on widely different philosophies about capital regulation.

Despite recent controversy over Tesla crashes, the march toward autonomous driving technology continues. And that means big changes for auto lenders.

The $25 billion-asset company said in a press release Tuesday that BankUnited Small Business Finance is now making loans in Ohio, Washington and Wisconsin.

A couple of years ago, the activist investor Joseph Stilwell said Anchor Bancorp in Lacey, Wash., deserved more time to try to right itself. Apparently he thinks that time is up.

WASHINGTON — The head of the American Bankers Association on Tuesday defended financial institutions' partnerships with fintech firms but argued that banks top nonbank startups in serving as "trusted custodians" for their customers' funds.

As policymakers try to calibrate the appropriate level of regulatory oversight still six years after Dodd-Frank, financial institutions large and small must stay engaged in key policy debates.

The leading Democrat on the Senate Banking Committee said Tuesday he was "optimistic" about lawmakers' making changes to improve the Dodd-Frank Act next year, while lauding JPMorgan Chase's decision to raise its minimum wage from $10.15 an hour to $12.

Attempting to impose the fundamental laws of a particular lending universe on another will lead to an eventual collapse of a particular firm or industry segment.

Charles Schwab Bank, BBVA Compass and Mechanics Bank are among the latest investors in a California microfinance firm that specializes in small-business lending.

The management team at Bank of the Ozarks knows it has a dependency on commercial real estate. But they assert that sound underwriting, and efforts to diversify, are what really matters when assessing risk.

WASHINGTON — The House approved a spending bill Thursday that would change the structure of the Consumer Financial Protection Bureau and take away the Financial Stability Oversight Council's power to designate nonbanks as systemically important.

Turmoil in marketplace lending has less to do with loan quality and more to do with how lenders price loans to meet supply and demand.

Freddie Mac is on track to issue mortgage-backed securities via a common securities platform by the end of this year, according to the Federal Housing Finance Agency.

Walmart Pay is the culmination of years of efforts that Walmart has put into building its brand as a trusted provider of payments. In addition to its new mobile wallet, Walmart has been involved in numerous innovative projects to help its customers move money.

Seven months after revealing its branded mobile payment app, Walmart is making Walmart Pay available in more than 4,600 of its stores throughout the U.S., with early figures indicating consumers approve of its "connected" app model.

Sen. Bob Corker, R-Tenn., a member of the Banking Committee, has reportedly withdrawn as a potential running mate for GOP presidential candidate Donald Trump.