Economy

With the purchase of Sweep, Max Levchin's firm is betting that daily engagement with consumers will pay long-term dividends.

The courts would not be getting involved in defining the reach of the Consumer Financial Protection Bureau if the architects of the agency had instituted a commission to oversee it.

Cutting-edge jobs — think chief innovation, strategy and data officers — are on the rise at banks and other lenders, and they are drawing free-thinking, tech-savvy candidates from inside and outside of financial services. American Banker asked several of them to recommend a book or other piece of writing that helped them tackle jobs that often were created from scratch.

CommonBond, an online lender that specializes in student loan refinancing, announced Monday that it has sold $150 million of bundled loans to investors.

Multi-factor authentication will be required for administrative access to card data and systems for Payment Card Industry data security compliance this week.

Freddie Mac has revised downward its economic forecast for the remainder of 2016 following a tepid first quarter, but still remains upbeat about the housing market.

The core problem with the living wills, as with other tools in the Dodd-Frank Act to end “too big to fail,” is that they are by definition an attempt at predicting future events.

The prepaid card industry is ramping up its advocacy efforts on Capitol Hill as the Consumer Financial Protection Bureau readies a final rule targeting such products.

Growth opportunities for e-commerce companies looking to go global in the next few years are huge, but many are daunted by the complexity of different online payment approaches used around the world, say international e-commerce payment experts.

Illinois, California and New York are all taking initial steps to try to crack down on borrower abuses in the fast-growing digital lending marketplace. The states are facing pressure to intervene because federal agencies have yet to take decisive action.

Most modern mobile wallets didn't start out in their current form. Some didn't even start out as mobile apps.

Banking regulators made several critically important changes in their new plan to restrict executive pay at financial institutions after their first attempt flopped in 2011. Here's what they did.

Capital continues to flow freely into financial technology ventures, many of which are repositioning themselves as aspiring partners for banks rather than would-be disruptors.

Traditional banks are not likely to match the nimbleness of a fintech startup for a whole variety of reasons. But that doesn't mean all is lost.

Federal regulators unveiled a long-awaited proposal Thursday designed to target incentive-based pay arrangements for executives at banks and credit unions, the agencies' second attempt after their initial plan met fierce resistance.

An online student loan refinancing business that was recently spun off from a Virginia bank has been rebranded as Purefy Inc.

Continued doubts over ending "too big to fail" should force managers to elevate underappreciated staff whose job is to attack oncoming risks.

Two St. Louis-area investors have been indicted on charges they defrauded the failed Excel Bank on real estate loans.