Economy

Recipients of the 2015 FinTech Forward awards discuss how banks can remain competitive with nimbler, innovative startups.

Lawmakers and industry groups are urging FHA to update condo rules to provide more homeownership opportunities for first-time buyers.

The Federal Reserve Board will hold a public meeting Oct. 30 to discuss a proposal that would require the largest and most systemically risky banks to hold capital and unsecured debt to protect taxpayers from issuing bailouts if they should become distressed.

Apple Pay debuted last year as an enabler for many banks that were itching to get involved with mobile payments. But a few banks were able to leap ahead of Apple Pay with their own technology.

When Square created the market for mobile point of sale devices, Verifone got defensive. Today, with the rollout of its Engage platform, Verifone is going on the offense.

Recipients of the 2015 FinTech Forward awards discuss how banks can remain competitive with nimbler, innovative startups.

Mortgage servicer Ocwen Financial failed four servicing tests in the second half of 2014. Joseph A. Smith Jr., the monitor of the $25 billion national mortgage settlement, said the Atlanta servicer was “beginning to show progress” in complying with terms of the 2012 agreement.

The Federal Deposit Insurance Corp. is set to vote Thursday morning on a proposal that would force big banks to bear the assessment burden of growing the agency's federal reserves to a new minimum.

The industry will undoubtedly get bad press in an election cycle, but here is what institutions should do and not do about it.

Skills Fund, which has raised $11.5 million in seed capital, is one of several lenders targeting students hoping to boost their salaries by quickly learning how to write computer code.

The head of the Consumer Financial Protection Bureau warned software vendors that they face new scrutiny from regulators for causing mortgage lenders to miss the TRID-compliance deadline. He was vague about how far the CFPB might go, but many in the industry are prone to fear the worst.

OnDeck Capital, Lending Club, Funding Circle and Kabbage in the last week have all announced moves designed to boost their loan volumes.

Profits fell at New York Community Bancorp in Westbury, N.Y., as it continued to manage its balance sheet to stay below a key regulatory threshold.

Private mortgage insurers are seeking a larger share of the credit risk on Fannie Mae and Freddie Mac-guaranteed loans.

Housing finance reform in Congress is stalled, but Fannie Mae and Freddie Mac (often under pressure from their regulator) are forming partnerships, developing new products and finding ways to share risk with the private sector to correct flaws in the housing system.

Mortgage servicers have gotten a rare reprieve from the Federal Housing Administration.

General Electric is trying to entice its shareholders to exchange their stock for shares in Synchrony Financial, the spun-off credit card lender.

Next year Fannie will require that mortgage lenders use so-called trended credit data for all mortgage borrowers, a move it says could broaden access to credit.

Springleaf's proposed acquisition of Citi's OneMain Holdings is being delayed by the Justice Department, which appears focused on preserving competition at the local level — even as a raft of new subprime installment lenders are popping up on the Web.

Community banks, frustrated that online and email marketing often gets overlooked, are trying to get people to engage with local businesses in hopes of landing more clients.