Economy

Interac, the Canadian debit network, has frequently spearheaded contactless payments innovation. It is now taking steps to extend this tradition to mobile commerce.

Understanding how consumers pay their debts over time is expected to widen access to credit for consumers recovering from financial problems or who were hard to score before. Just how many it will benefit is an open debate.

Delinquencies are rising among the sector's less creditworthy borrowers, which is contributing to smaller returns for investors. This sets up the first major test for an industry that blossomed during a period of unusually low defaults.

As wearable technology advances, it is taking a back seat to the designs that will have these high-tech features woven in.

Carolina Alliance Bank in Spartanburg, S.C., has exited the Small Business Lending Fund program.

The precedent set in the ongoing battle between Apple and the FBI over custom access to a device in question opens up unsettling risks on privacy and security.

Chase Pay is tied to the issuer's 94 million credit, debit and prepaid card accounts, representing half of U.S. households. Depending on the perspective, this means Chase's wallet either starts with — or excludes — half of the market.

WASHINGTON — Despite dire predictions by banks and others that new mortgage rules by the Consumer Financial Protection Bureau would cut off access to credit, the industry is performing well two years after the regulations went into effect, according to the agency's top official.

JPMorgan Chase chief Jamie Dimon added to his defenses of megabanks, arguing that regional and community banks rely on them. The comments could inflame tensions among banks instead of easing them.

Shares in the online small-business lender plunged Tuesday after the firm's 2016 revenue guidance fell short of expectations. New details about the firm's plans to provide its technology to big banks did nothing to stanch the bleeding.

SecondMarket’s founder built a successful company by creating a market for illiquid paper. Then he went all in on bitcoin. The gamble doesn’t sound quite so crazy anymore.

Chinese banks will reportedly pay half of what U.S. banks are forking over to support Apple Pay, a sizable gap that's due to Apple's relative fame in different parts of the world and the sizeable hype behind the product's U.S. launch in 2014.

Meaningful rules encouraging Fannie and Freddie to do more with manufactured housing would allow more lenders into the market and make pricing more competitive.

It is time for institutions to act independently of the Federal Reserve and raise their loan interest rates to improve returns.

There's nothing like the threat of a corporate relocation to prod government economic development officials into action.

OnDeck Capital in New York reported a $5.1 million loss in the fourth quarter as revenue failed to keep pace with rising expenses.

The affordable housing market has dried up in major cities across the country. In response, regulators and lenders are looking into new programs to get people back into single-family homes while also exploring ways to encourage multifamily developments.

The Treasury Department will invest an additional $2 billion from the Troubled Asset Relief Program into a federal fund that seeks to protect homeowners from foreclosure.

Big-bank representatives agree with the concept behind the Fed's "total loss absorbing capacity" proposal but argue that certain provisions are excessive and onerous.

The terms "peer-to-peer" and "marketplace" lending are often used interchangeably to define all manner of loans made through the Internet. The reality, though, is that aside from lacking storefronts, the many firms now operating in this arena have little in common with one another. Here's a guide to help tell them apart.