Economy

The payments and financial technology world is moving ahead at high speed. But an acquirer may feel like the only one on the road obeying the speed limit while other companies zoom ahead.

Carver Bancorp in New York is dealing with a new set of challenges just months after being released from a longstanding enforcement order. The company’s woes highlight the challenges for banks with narrowly constrained business models.

The Glass-Steagall Act of 1933 was an unexpected and prominent part of the Democratic and Republican conventions this year, as both parties added a call to reinstate the law as part of their party platforms. But that will be easier said than done, considering that lawmakers from both sides of the aisle have shown little interest in the idea. Following is a look at how a Depression-era law found its way to Cleveland and Philadelphia.

Many times, bitter rivals must set aside their differences for the common good. This has happened a lot in recent years as the payments industry adjusts to the fast pace of innovation.

Regulators' recent warnings on emerging risks with commercial real estate indicate banks have reverted to CRE practices that got them in hot water once before.

The regulatory winds swirling around acquirers and independent sales organizations are so swift, those who can't stay abreast of the changes are likely to get blown away.

It's part of the Democratic platform, but lawmakers at the convention here are skeptical of embracing a plan to restore the Glass-Steagall Act, unsure what it would look like.

Banks need to improve their use of technology designed for small-business customers soon, or risk losing them.

Every product has a "sell by" date, and so should every independent sales organization.

Every product has a "sell by" date, and so should every independent sales organization.

President Obama called for Fannie Mae and Freddie Mac to be eliminated, but Democratic policymakers attending the convention in Philadelphia appear resigned to the fact that Congress is unable to act on housing finance reform.

Hedgeable sees the peer-to-peer business and personal loans as an alternative to fixed-income investments that are traditionally offered through exchange-traded funds.

As if high default costs haven't been challenging enough for mortgage servicers, a growing number of seriously delinquent loans are Federal Housing Administration products, which require significant upfront investment to resolve.

Suffolk Bancorp in New York, which recently agreed to be sold to People's United Financial, discouraged several suitors from bidding due to concerns about concentrations of commercial real estate loans at those banks. The disclosures highlight the challenges that banks with heavy CRE exposure could face — as buyers or sellers — if they want to do deals.

WASHINGTON — Fannie Mae is making its housing counseling requirements more flexible so additional borrowers can qualify for its low-down-payment, affordable loan program called HomeReady.

Virgin Money Holdings, the bank backed by billionaire Richard Branson, postponed plans to start lending to small businesses as Britain faces a potential economic slowdown after voting to leave the European Union.

Sens. Bernie Sanders, D-Vt., and Elizabeth Warren, D-Mass., said presumptive Democratic presidential nominee Hillary Clinton will ensure big banks do not again threaten the financial system.

Despite fears that increased compliance costs from new Consumer Financial Protection Bureau rules could drive community lenders out of the mortgage business, a watchdog report found that smaller companies remain active.

Now that Verizon has nailed down a deal to buy Yahoo's search and advertising business, it's starting to look a lot more like Google — and it might even have the tools to take a second stab at the payments industry.

Regulators sought to limit improper contact between lenders and appraisers, but policies of the two mortgage giants encourage the kind of practices that contributed to the housing crisis.