Economy

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.

GE Capital has formally asked the Financial Stability Oversight Council to review and rescind its designation as a systemically important financial institution, setting in motion a highly anticipated process that has not yet been tried by a designated firm.

Enterprise Bancorp in Lowell, Mass., has purchased the site of a former hotel that recently burned to the ground and plans to put a new branch there.

The payments pioneer is transforming its merchant cash advance into a business loan, a move that has significant legal and regulatory implications.

The DC District Court handed the insurance giant MetLife a big upset win when it struck down the Financial Stability Oversight Council’s decision to apply a systemically risky label to the firm, but with few other firms facing similar designation, the practical impact of the ruling is uncertain.

Huntington Bancshares has partnered with the owner of the NBA's Detroit Pistons to provide $25 million in financial support in Flint, Mich., in response to the city's drinking water crisis.

Bankers are fighting back against a plan that would allow Fannie Mae and Freddie Mac to invest in low-income housing tax credits, arguing they are critical for meeting Community Reinvestment Act requirements.

The ability to program value exchanges without risk of censorship, moderation or theft gives smart contracts a leg up in servicing users who lack a mainstream banking association.

Model legislation in the works would give state legislatures a template for regulating virtual currency businesses. The Treasury is lobbying against clear exemptions for firms that don't control customer funds.

The DC District Court on Wednesday ruled against the Financial Stability Oversight Council's designation of the insurance giant MetLife as a systemically risky nonbank, though the opinion behind the order was sealed and the reasoning behind the decision remains unclear.

MetLife beat back a U.S. attempt to label it too big to fail, which would've put America's biggest life insurer under tougher government scrutiny and forced it to put more money in reserves.

WASHINGTON — Congress should consider streamlining the financial regulatory structure and give the Financial Stability Oversight Council broader authority to respond to systemic risks, according to a Government Accountability Office report published this week.