Economy

BlueVine, an online business lender based in Palo Alto, Calif., is branching into unsecured lending.

Lending Club, Prosper Marketplace and Funding Circle are locking arms to create a new trade group that will represent the marketplace lending industry in Washington.

The majority of first-time homebuyers plan to skip the starter-home step and move straight into the home that would meet their long-term needs, according to the Homebuyer Insights Report from Bank of America.

The international standard-setting body highlighted the benefits of a Federal Reserve-style supplementary leverage ratio for global systemically important banks, but stopped short of a full-throated endorsement and committed only to take public comment on the issue.

Banking industry representatives immediately raised significant questions about Donald Trump's plan to block remittances to Mexico, including the appropriateness of using financial institutions as a tool to carry out immigration policy, as well as how the policy would be executed.

GOP lawmakers and witnesses at a Senate Banking Committee hearing pointedly criticized the Consumer Financial Protection Bureau on Tuesday, setting the stage for a likely contentious hearing with the agency's director later in the week.

As more employers offer student loan repayment assistance to their workers, lenders that specialize in refinancing debt — like Citizens Financial and SoFi — see an opportunity to reel in more customers.

The United Kingdom's potential departure from the European Union has implications not just for British banks but for large interconnected financial institutions based here as well.

Delaware, whose business-friendly laws have lured more than half the country's publicly traded corporations and more than 60% of the Fortune 500 to incorporate in the state, is now vying to become a hub for blockchain technology.

In a forum at the Federal Reserve Bank of Minneapolis aimed at examining progress made in ending the era of Too Big to Fail banks, academics engaged widely differing views on the nature of bank risk and how far regulators have come in addressing them since the crisis.

The agency's insurance-rate cut could spur the rehab of thousands of affordable units, but it's far from a total solution, housing advocates say.

Third Federal Savings and Loan in Cleveland has long offered mortgage refinancing in New Jersey, Pennsylvania, Maryland, Virginia and North Carolina. Now it plans to offer purchase loans in those states.

JPMorgan Chase has agreed to sell its U.S. Department of Agriculture Rural Development mortgage origination business to Freedom Mortgage of Mount Laurel, N.J.

Verifone is hoping to beat the payments disruptors at their own game, introducing a mobile point of sale terminal for quick-service businesses, small retail shops and cafés that integrates payments with other consumer services.

Rather than look at the hard problem of restructuring the banking system, critics of the largest institutions should focus on the more immediate issues pertaining to extremely high capital requirements, which may hamper economic activity.

The government agency that guarantees securitizations of Federal Housing Administration-insured loans is testing a pool type that consists only of modified and reperforming loans.

The Commodity Futures Trading Commission's proposal to obtain trader source code sets a dangerous precedent of regulators impinging on firms' constitutional protection from search and seizure.

The former head of the FDIC has a longstanding interest in small-dollar consumer lending.

The Dallas-based subprime consumer lender backed off controversial changes to its method for calculating its quarterly provisions for loan losses, forcing it to revise earnings downward for the last two years. It also announced that it had found more accounting issues.

WASHINGTON – The public advocacy group Better Markets is calling on a federal court to explain why it has decided to seal an opinion, delivered Wednesday, that struck down MetLife’s designation as a systemically risky nonbank.