Economy

Marketplace lending platforms like Lending Club still need banks to make the loans. Cross River Bank CEO Gilles Gade, who has deals with 14 platforms and has talked with dozens of others, explains the mechanics of these agreements in a Q&A.

Huntington had admired the finance firm for decades, but it was the Ohio company's Midwestern ties that helped it snag the unit from other suitors.

A more efficient, customer-friendly process for small-dollar commercial loan requests is a matter of competitive necessity for most community banks.

To stay ahead of the curve, business leaders must take advantage of every resource at their disposal, and many are looking outside the walls of their organization for new ways to spark the flame of innovation for the next big idea.

Host Card Emulation, the technology that allows contactless mobile payments without access to a phone's secure element, could bust the barrier that still lingers between mobile payments and loyalty.

Daunted by the challenge of how your bank can help underserved members of the community? Here are some simple tips and bits of wisdom from bankers, nonprofit leaders and local government officials.

OnDeck Capital, the online lender whose initial public offering raised eyebrows in December, posted a net loss of $4.3 million for the fourth quarter in its first report as a public company.

It's not quite too big to fail, but Ocwen is the country's largest servicer of subprime mortgages. So if it were forced to sell itself, or even failed, the transfer of some $410 billion in servicing rights could create havoc in the mortgage market, industry experts said.

With the economy recovering, Chris Hurn saw an opportunity to start another company focused on Small Business Administration 504 loans — his longtime specialty — and spread the word to business owners about the benefits of owning their facilities.

Google is buying some technology and intellectual property from the rival Android-based mobile wallet Softcard, giving Google a chance to finally put to bed several business problems that have plagued the company since it launched its mobile wallet in 2011.

Like a number of startups and "neobanks" that have sprouted up to challenge incumbent retail banks, Fidor Bank is positioning itself as a more consumer-friendly, tech-savvy alternative.

Bitcoin's premise is that an open-source computer protocol could support a new global currency, without reliance on the centralized power of banks and governments. But trusting a computer protocol, without human governance, doesn't make sense. As it stands, bitcoin's governance has a long ways to go before institutions would rely on this innovative but flawed currency as a store of value.

Ocwen Financial has tentatively agreed to sell a mortgage-servicing portfolio on $9.8 billion of loans to Nationstar Mortgage Holdings, and Ocwen hinted that more deals may be in the offing.

Apple Pay's contactless payment model may be straightforward and simple, but it's not the only way to move funds without cards and cash. Many companies are coming up with alternatives that work from phones, smartwatches and other devices.

The fight over the Dodd-Frank threshold for enhanced regulations is the first big legislative battle for a loose coalition of regional banks.

The Subsidy Reserve Act of 2015 could solve "too big to fail" and level the playing field for smaller banks by requiring the largest financial institutions to accumulate capital equal to the amount of the market subsidy they receive.

CFPB officials are keeping a close watch on the Qualified Mortgage and ability-to-repay rules to gauge whether further changes should be made. But mortgage numbers don't give a clear picture on what kind of impact they've had.

Banks' business models are even more vulnerable to a massive shake-up than industry behemoths like McDonald’s and Coca-Cola. The industry will be redefined by technological change and shifting consumer preferences, as well as by regulations that limit the sector's adaptability.

Samsung's plan to acquire LoopPay gives the mobile phone maker a technology that can reach more merchants faster than Near Field Communication (NFC), the technology used by Apple Pay and Google Wallet.

WASHINGTON — Federal regulators extended the deadline for three nonbank firms considered "systemically important" to submit their revised resolution plans, also known as living wills.