Economy

Pathfinder Bancorp in Oswego, N.Y., has exited the Small Business Lending Fund program.

The NCUA's plan to expand credit unions' business-lending powers generated more than 3,000 comment letters, mostly from bankers urging a "no" vote. But the agency's board is expected to stick by its original proposal.

While little is known about what regulators are weighing as they grade the 12 biggest firms' resolution plans, experts deeply familiar with the process are speculating that liquidity could be a determining factor in whether the plans are deemed credible or sent back to the drawing board.

There are millions of businesses deserving of loans that banks using traditional data resources might overlook due to their thin credit histories.

The burgeoning industry has been hoping the Supreme Court would overturn a problematic lower-court ruling, but the unexpected passing of a conservative stalwart makes that outcome less likely.

Home equity portfolios have shrunk at banks, but credit unions and nonbank lenders like loanDepot helped fuel the surge in home equity lines last year.

There is concern that a decline in condo pricing could create loan problems similar to those that cropped up before the financial crisis. Bankers in the area, however, believe foreign investors would take the biggest hit.

In what could be seen as a Nixon-to-China moment, Minneapolis Fed President Neel Kashkari, a former Goldman Sachs executive and one of the architects of Treasury's bailout of the largest banks, said that breaking up the big banks and turning them into public utilities may be the only way to solve "too big to fail."

The Electronic Transactions Association released its updated Guidelines on Merchant and ISO Underwriting and Risk Monitoring last week, spotlighting various merchant categories that face the biggest scrutiny from law enforcement agencies.

Federal Reserve Bank of Minneapolis President Neel Kashkari said Congress hasn't gone far enough to protect the U.S. economy from potential crises and unveiled plans to study options for regulators that include breaking up the nation's largest financial institutions.

Lawmakers opted for broadening the focus and makeup of the Financial Stability Oversight Council, but a more focused systemic risk regulator would have had a better chance of success.

The Chicago, Des Moines and Cincinnati FHLBs have grown their life insurance company membership the most in recent years.

Fannie and Freddie have been selling pools of delinquent mortgages at auction to the highest bidders. Community groups say the Federal Housing Finance Agency should be giving preferential treatment to nonprofits and community development financial institutions.

Visa has accumulated a 9.99% stake in Square, according to a filing with the Securities and Exchange Commission, giving a boost to the mobile point of sale company, which has faced challenges recently.

Much of the growth in wearable technology is happening without an eye to enabling payments. This is prompting many companies to find a way to add payment capabilities to wearables without forcing users to buy an entirely new device.

Large banks are not buying preferential treatment by contributing to her campaign, Hillary Clinton insisted again on Thursday, attempting to rebut charges leveled at her by Sen. Bernie Sanders.

The Federal Housing Administration will continue to charge borrowers an annual premium over the entire life of the loan, rejecting calls from some housing advocates to change how it’s calculated.

Senate Banking Committee members pushed Federal Reserve Chair Janet Yellen Thursday for some indication of whether the central bank would approve banks' so-called "living wills" or instead will force asset sales and other steps to simplify their structures.

Fifth Third Bancorp in Cincinnati said Thursday that it will spend $27.5 billion over the next five years to provide loans and other financial services to underserved communities in its region.

Silicon Valley companies like Marqeta, Stripe and Braintree cut their teeth on the open network concept, creating a place for themselves at the table of future embedded payments, instant card issuing or instant credit.