Economy

Lending Club rebounded to profitability in the third quarter as revenue growth at the nation's largest marketplace lender outpaced an increase in operating expenses.

Antonio Weiss, a counselor to Treasury Secretary Jack Lew, called Thursday for greater transparency in the pricing of online small-business loans.

The report from independent auditors will likely show that FHA remains below its 2% statutory minimum capital ratio, but HUD officials and outside observers still expect it to show major improvement over last year.

California’s Richmond Community Foundation will pursue a new social impact bond vehicle with a $3 million revenue bond private placement it hopes to close next month with the local Mechanics Bank.

All participants in financial services will have to start behaving, thinking, organizing themselves as technology companies and focus on three things: technology, data and customer (or, better yet, user) experience.

Santander Consumer USA Holdings plans to exit personal lending and focus primarily on its auto-finance business.

New York Community Bancorp has agreed to buy Astoria Financial for about $2 billion in cash and stock, combining two of the largest New York-area banks to create an institution with about $64 billion in total assets.

Women who own small businesses are happier with their banking experiences than their male counterparts are, according to a study by J.D. Power released Thursday.

Republican presidential candidates managed to get in several barbs over banking policy during the party's primary debate on Wednesday night, largely aimed at the Federal Reserve and government more broadly.

Eastern Bank's 18-month-old innovation unit, run by startup veterans, is preparing to release its first product as the industry continues to allocate resources to internal tech labs while wondering when and how such efforts will pay off.

Citigroup isn't the poster-child for "too big to fail" anymore, Chief Executive Michael Corbat claimed Wednesday, arguing the bank had scaled back and learned from its mistakes leading up to the financial crisis.

A major investor in insurance giant American International Group is calling on the company to break itself up into three companies to get out from under its designation as one of only four systemically risky nonbanks.

Wells Fargo has eliminated foreign transaction fees for transactions made by small businesses made outside the U.S.

There’s no doubt that blockchain technology will facilitate disruptive innovations in finance, but a world of private ledgers sounds eerily similar to a range of “private Internets.”

The founder of an IPO services company that was sold this month to Nasdaq has lined up several investors for his new company, which will invest in bitcoin and blockchain developers.

Consumers still aren't eager to make payments from their phones, despite the immense security boost mobile wallets provide through encryption, tokenization, dynamic account data and biometrics. So MasterCard is taking these technologies and hiding them in other products.

Department of Housing and Urban Development staff are working on a revision to the agency's condo rule and "we anticipate a rulemaking process," the HUD Secretary Julian Castro said this week.

"At some point there will probably be a government agency telling us to do this. So why not start now?" says MultiFunding CEO Ami Kassar.

Rep. Paul Ryan’s expected election as House Speaker this week may ultimately prove a boon for the banking industry — especially for critics of the Dodd-Frank Act and the current mortgage finance system.

The alliance between JPMorgan Chase and the Merchant Customer Exchange represents more than an olive branch between two industries that have typically been at war over fee revenue — it's a result of a years-long transformation in how Chase approaches its relationships with the retail sector.