Economy

Legacy core systems make banks vulnerable to new competitors and risks. Modernization is underway, but many institutions are not moving fast enough. The risk of waiting too long is that it will take too long to catch up.

The added clarity provided by the Federal Housing Administration's revised single-family handbook comes at the expense of lender flexibility to get loans qualified, including a popular workaround for borrowers with deferred student loan debt.

The American Bankers Association is deemphasizing the crisis-era fight over regulation and refocusing on the rising competitive threat posed by technology companies.

With Visa Inc. set to merge with Visa Europe, the U.S. company stands to benefit from the experience its London-based counterpart has in mobile and digital payments. It could also supercharge these projects with added resources.

Fannie Mae was affected by the same derivatives accounting mismatch that led to Freddie Mac's first quarterly loss in four years. But its bulk and balance sheet provided enough cushion for the larger of the two government-sponsored enterprises to post a profit for the third quarter.

The regulators' annual Shared National Credits review found nearly 10% of large, syndicated credits demonstrated some form of weakness, most of which were leveraged loans. But renewed concerns about energy loans also cropped up.

Raj Date, the consumer bureau's former deputy director, said Thursday regulators need to be flexible, responsive and use discretion when it comes to dealing with financial technology startups.

Fannie Mae will pay the U.S. Treasury Department $2.2 billion after reporting a net income of $2 billion for the third quarter.

The relevant question is no longer whether new regulations will come for the fast-growing industry, but what form they should take.

Federal Reserve Chair Janet Yellen faced tough questions from lawmakers on Wednesday covering a range of issues, including small bank burden, executive compensation, and living wills at a hearing focused solely on banking regulation.

Nationstar will provide servicing-released option for fledging Chicago's MPF Government MPF program.

Luther Burbank Savings, in Santa Rosa, Calif., has established three home loan programs aimed at helping low- and moderate-income borrowers afford to buy homes in nine California counties.

Uber Technologies is drafting plans to offer banking services to its drivers as part of an effort to fend off ride-sharing competition, according to a report by Quartz.

While Texas has been among the strongest housing markets in the country over the past few years, the recent decline in oil and gas prices is affecting its housing market at a time when an overall sluggish economy can't pick up the slack.

Reimaging the digital experience for retail customers has been the rage for several years now, but a handful of companies are turning their attention to rethinking the digital experience for small business deposit accounts.

There is a time, a place and a customer base for pseudonymous cryptocurrency. For regulated financial institutions, other types of shared ledgers — those whose validators are legally accountable for certain terms of service — may provide unique utility.

WASHINGTON — The House Financial Services Committee debated a bill Tuesday to remove a key Dodd-Frank Act size test that subjects any bank with over $50 billion in assets to heightened rules.

Freddie Mac Chief Executive Donald Layton insisted Tuesday that the government-sponsored enterprise showed "very strong fundamentals" in the third quarter, despite reporting a $501 million loss due to an accounting mismatch with its use of derivatives.

Freddie Mac posted a third quarter loss of $501 million, its first quarterly loss in four years, but the government-sponsored enterprise will not request a draw from the U.S. Treasury.

Nearly two-thirds of small businesses create a formal plan for growth. But ISOs aren't always privy to the details.