Economy

LendKey, which manages online lending programs for banks and credit unions, has named Salil Mehta to senior vice president of credit risk and analytics.

Policymakers need to closely study whether new regulations are hampering liquidity in the fixed-income market, a prominent banker and regulators said Monday.

President Obama on Monday defended his administration's record on financial reform and the performance of officials he put in charge of implementing it, responding to critics in both parties who have claimed that the financial system is less safe since the 2008 financial crisis.

Citigroup executives involved in the issuance of residential mortgage-backed securities at the center of the 2008 financial crisis will not be facing criminal charges for selling toxic bonds, U.S. authorities have determined.

WASHINGTON — The Consumer Financial Protection Bureau is taking aim at marketplace lenders, announcing Monday that it is accepting complaints about the developing industry and releasing a bulletin to inform the public about such firms.

Having banks hold fortress balance sheets and be limited to traditional intermediation would require giving them monopoly status over certain products.

Atlanta is flush with payment processors that handle more than 70% of the nation's transactions. These players now plan to expand their reach even further, hoping to make the southern city a fintech hub to rival Silicon Valley and New York.

Putting bank venture clearXchange's push for real-time person-to-person payments in motion, U.S. Bank says it is one of the first to make the service available to its customers.

The Federal Reserve Board unanimously voted to release a proposal Friday to limit the exposures between systemically risky bank holding companies in a move that reflects not only an evolution in the agency's finesse but a change in the pressures it is facing.

Market volatility and new regulatory burdens are thinning the ranks of commercial mortgage lenders that underwrite loans for securitizations. Activity is slowing down as a result, and it is unclear if banks and insurers will fill the void, especially outside the largest cities.

Contrary to claims of anticompetitive practices, manufactured housing industry leaders want to increase the number of lenders offering financing.

The payments industry changes fast, and a business model that was viable just two years ago may be obsolete today. Some companies are making major updates to their strategies to stay ahead of these developments.

While regulators and law enforcement agencies are beginning to strike a more conciliatory tone with respect to digital currency, industry players complain the technology is still being stifled by its pariah status.

A significant gap remains between the credit scores of women-owned companies and those owned by men, according to a Biz2Credit.com survey.

WASHINGTON — The House Financial Services Committee approved a bill this week that would increase the mobility of mortgage originators who take a new job across state lines or move from a federally regulated bank to a nonbank.

A new survey from seven regional Federal Reserve banks found that many small businesses are going online to access credit. But even when they are approved, applicants often end up dissatisfied because the loans carry high interest rates or have unfavorable repayment terms.

Lenders are becoming more reluctant to share closing documents with real estate agents now that they have more responsibility for them, the National Association of Realtors claimed Thursday.

Oversight of the four largest mortgage servicers' compliance with the national mortgage settlement is officially over, the watchdog overseeing the process said Thursday.

New requirements and guidance from the Payment Card Industry Security Standards Council will be released to merchants in April, which is about six months earlier than its normal update cycle.