Economy

KeyCorp has named Mark Danahy president of its mortgage operations. Danahy had been managing director of Citigroup's U.S. mortgage operation from July 2011 to May 2014 and, before that, was president and chief executive of PHH Mortgage.

The Financial Stability Board’s proposed capital and long-term debt requirements would only go part of the way toward ending the risk of government bailouts. If regulators really want to get rid of too big to fail, they need to deal with over-the-counter derivatives market.

The paper by a consultant with the Office of Financial Research said that projected losses in the 2013 and 2014 tests were "nearly perfectly correlated," suggesting that the tests have become "less informative."

Here's the sales pitch: use the service as much as you want for a flat monthly fee of under $10, potentially saving money over paying per transaction. It sounds like Netflix, but it's a new and fairly unconventional approach to how Cardtronics is selling ATM access.

Though stress tests are widely viewed as a successful and critical exercise, there are growing concerns that regulators — and the banks themselves — may have become too reliant on them, overshadowing other aspects of the supervisory process.

International remittances grew at a number of banks last year, according to new data, but anti-money-laundering rules may make the fee-based business too expensive to keep.

Eagle Bancorp in Bethesda, Md., is looking to raise funds to exit the Small Business Lending Fund.

An audit of Ginnie Mae financials identified four "material weaknesses" and one "significant deficiency," primarily related to the accounting of $6.6 billion in defaulted loans made by the failed lender Taylor, Bean & Whitaker.

Embattled mortgage servicer Ocwen Financial faces up to $26 billion in damage claims by bondholders and a greater risk of being fired as a mortgage servicer on thousands of small, private-label trusts.

The Fed's annual dissection of each of the 31 largest U.S. banks is a painstaking and enormously complicated endeavor. This is an inside look at how it works.

Big banks are making critical risk management decisions with data that is old, incomplete or even inaccurate. This endangers the safety of the global financial system in more ways than one.

American retailers have struggled with mobile payments, largely because they try to reinvent the entire buying process instead of evolving what's already there. Starbucks' success is rooted in its willingness to take the easiest route time and again, an approach that is clear in how it chose to implement Apple Pay.

Google and Softcard have been fighting a long turf war to become the dominant mobile wallet for Android users. Softcard has finally conceded defeat, but Google still has much work ahead of it.

The Federal Housing Administration's recent premium reduction is undercutting the private sector and expanding the government's role in the housing market, housing finance industry representatives told a House subcommittee on Thursday.

Prosper Marketplace, an online lender for consumer loans, has found a new source of referrals: community banks.

The Obama administration's proposed bank tax would apply to all liabilities of large financial institutions — including their deposits. It's bad policy to tax the funding that banks use to make loans to consumers and businesses.

BB&T has received subpoenas from the Justice Department tied to a probe of the Winston-Salem, N.C., company's FHA lending.

One in three struggling homeowners who received a loan modification through the Home Affordable Modification Program ultimately redefaulted on those loan.Meanwhile, the program that was supposed to help some 4 million families avoid foreclosure has helped only a fraction of that amount, according to a report presented to Congress.

By prosecuting executives responsible for banks' misdeeds, the DOJ can curtail illegal activity and restore public trust in big banks — and in the law itself.