Economy

Sen. Bernie Sanders' victory in New Hampshire will undoubtedly boost his campaign, but his plan to cap interest rates for credit card and other consumer loans at 15% won't help anyone in the short term and could potentially wreak havoc on low-income people in the long term. Here's how.

The proposal is unlikely to pass, but does shed light on the administration's plans for housing finance reform, how it views cybersecurity progress and a proposed tax on bank liabilities that could become a reality if a Democrat takes the White House in November.

Many institutional investors are refusing to purchase mortgages loans until they get assurance from the CFPB that they won't have to pay for others' mistakes. Their pullback could further the slow the issuance of private-label mortgage bonds this year, a huge concern at a time when the majority of home loans are insured by Fannie, Freddie and the FHA.

Ted Tozer, president of the Government National Mortgage Agency, wants more hands to monitor the growing number of nonbank MBS issuers.

Stephen Steinour, chief executive of Huntington Bancshares in Columbus, Ohio, has pursued a risky strategy of taking losses in exchange for adding new customers, the Cleveland Plain Dealer reported.

Golf course management software provider Club Prophet Systems is using the linked2pay application interface to add Automated Clearing House payment acceptance as an option for its clients.

The Federal Home Loan Bank System was designed to provide liquidity to community lenders and traditional insurers, not to unregulated lenders that circumvent the membership rules.

The election of a Republican president could be the first prerequisite to repealing the financial reform law, but banks still need to argue their case for why repeal is necessary.

The honorees, selected by the editors of PaymentsSource, are responsible for businesses and innovations as diverse as the payments industry itself.

There have never been so many foundational changes at once in this industry, Murray said. It’s imperative that everyone in it stay on their toes and be “prepared to change direction at any moment.”

Mortgage REIT says five-year transition plan won't have an impact on its financing model.

Remember those homeowners who walked away from their underwater mortgages even though they could still afford their loans? They're back, this time as prospective borrowers.

Housing policy focused on government guarantees and the 30-year mortgage hasn't done much to help low- and middle-income homeowners build wealth.

A consortium of Swiss banks hope the country's reputation for banking, technology and smartphones will give its financial institutions a commanding position for in-store and in-app payments.

The House passed a bill Thursday 250-169 that would limit regulators' ability to force banks to cut ties with certain businesses despite Democratic fears that it could hamstring the Justice Department's ability to prosecute bankers responsible for the financial crisis.

Democratic front-runner Hillary Clinton is increasingly on the defensive when asked why so many banks and hedge funds on Wall Street have given her money, insisting it doesn't influence her tough reformist views. But it raises the question what institutions hope to gain with all their money.

Rather than partner with a startup, 45-year-old Equitable Bank in Canada created a separate brand, EQ Bank, to acquire customers who are ready for an account without a debit card.

For the first time in its nearly 60-year history, Visa is inviting third-party software developers onto its network with the goal of advancing digital commerce.

First Resource Bank in Exton, Pa., has received federal regulatory approval to exit the Small Business Lending Fund program.

It is outside the realm of possibility for bitcoin's blockchain to serve any useful purpose for the intermediaries it was designed to replace.