Economy

WASHINGTON — The House passed a bill 247-171 on Thursday that would raise the threshold for a Federal Reserve Board exemption that helps banks raise Tier 1 capital.

FHFA Director Mel Watt acknowledged that the principal reduction program may seem "too small and too late."

Airbnb, the company that disrupted the hospitality industry as Uber did to taxis, is sidling up to the fintech space.

Suddenly, online lenders are struggling, or paying higher prices, to attract the institutional money that has fueled their rapid rise.

House Republicans moved two bills through committee on Wednesday that would each roll back key provisions of the Dodd-Frank Act.

The Office of Financial Research, an agency tasked with examining emerging threats to the financial system, said in a paper released Wednesday that U.S. global systemically important banks remain among the riskiest in the world, though risks from Chinese banks are growing the fastest.

U.S. regulators have asked their internal watchdogs to examine how assessments of banks' plans for winding down during a potential bankruptcy ended up in a news article.

Retail banks must reinvent the way they charge consumers for their services at a time when institutions are struggling for profitability.

The decision blocking the Financial Stability Oversight Council's designation of MetLife was presaged in factual and legal arguments made by trade associations and others for more than five years.

Affirm, a three-year-old online lender that finances consumer purchases at the point of sale, has raised a $100 million in equity funding to help it boost distribution and develop new products and services.

Regulators struck down the living wills of five of the eight megabanks under evaluation, including JPMorgan Chase, Bank of America and Wells Fargo, requiring them to submit fixes to their resolution plans by Oct. 1 or face more stringent regulatory requirements.

WASHINGTON — The House passed a bill Tuesday that would create a new bankruptcy system for large financial institutions.

WASHINGTON — The Federal Reserve Board and the Federal Deposit Insurance Corp. should rethink the review process for big banks' resolution plans, the Government Accountability Office said in a report released Tuesday.

Quicken Loans plans to appeal a recent federal labor ruling that the Detroit lender and other companies owned by Dan Gilbert violated employees' rights.

The partnership with OnDeck will allow the megabank to approve and fund loans in as little as a day, according to CEO Jamie Dimon. Meanwhile, OnDeck is eyeing similar partnerships with other banks.

Before banks are truly integrated into the digital landscape, they must break down data silos and implement steps to make data more accurate and actionable.

The New York company makes two- to three-year term loans of between $3,000 and $25,000. It is seeking to distinguish itself from other digital lenders by targeting young adults who have limited credit histories.

It's easy to get lost in the technological complexity of "application programming interfaces," but banks need to stay focused on improving business and customer outcomes, which is the ultimate goal.

Several years after regulators began developing the "net stable funding ratio," there is good reason to ask if its utility has been eclipsed by other liquidity-related rules.

Fannie Mae and Freddie Mac's experiments with selling credit risk to investors are a critical element of new plan to merge the two entities and move them out of conservatorship, but what form so-called credit risk transfers take could make a big difference.