Economy

Google, Amazon, Apple, PayPal and Intuit have joined forces to promote policies they say will foster greater innovation in financial services.

Revenue growth outpaced rising expenses at OnDeck Capital during the third quarter, allowing the fast-growing small-business lender to turn a profit.

Though the deadline for compliance is more than two years away, lenders are already warning that they do not have enough time to comply with a new rule that requires institutions to report additional data to regulators on home loans.

Banks undergoing annual Federal Reserve assessments should feel emboldened to challenge "matters requiring attention," and the Fed should hear them out.

Los Angeles-based marketplace lender AssetAvenue has named a new chief executive.

The Federal Reserve Board issued a proposal Friday to require the largest and most systemically risky banks to issue additional capital and unsecured debt to absorb losses in a failure, a move that experts say could ultimately make the banks less complex and easier to resolve in a crisis.

Now the question is: will online portals become a significant source of financing for U.S. small businesses, or will red tape get in the way?

Apple Pay hasn't gone too far with consumers in its first year, but it has nevertheless established a solid footing with merchants, banks and two generations of its own handsets. And Apple has many powerful rivals that are eager to surpass it.

The administration apparently intends to leave office without addressing Fannie Mae and Freddie Mac's capital bases and therefore the tight credit conditions.

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.