Economy

The Supreme Court gave borrowers the path to file a rescission notice without going to court, but experts expect more banks to initiate legal proceedings to stop rescissions they see as frivolous.

If consumers, designers and artists led the discussion about how we make payments in the future, they would likely come out with a vastly different system than the one technologists are creating today.

A plan to tax the liabilities of systemically important banks could help curb risk to the financial system, but the president and Congress should first consider more realistic asset thresholds.

Like General Motors extending credit to car dealers, Google will use Lending Club to finance resellers, service providers, and consultants in its supply chain while putting to work a portion of the tech giant's cash war chest.

Even in an alternative universe that exists only in cyberspace, real money is vital to the economy. Digital payments company Skrill hopes to bridge the real and virtual worlds to benefit its digital wallet.

California's Department of Business Oversight said Friday that it will drop its effort to suspend Ocwen Loan Servicing's mortgage license in California. The Atlanta servicer had failed for more than a year to provide its California regulator with requested information

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Early signs point to a wave of Federal Housing Administration borrowers trying to tap into lower prices for mortgage backing.

The focus on raising the $50 billion-asset threshold determining which banks face the toughest provisions is highlighting interest in letting more community banks enjoy exemptions written into the law.

Starbucks, which handles 16% of its in-store sales as mobile payments, is looking to push that number even higher. Its evolving strategy combines its mobile app, its gift card and its rewards program into a powerful package.

PacWest Bancorp in Los Angeles reported an increase in fourth-quarter profit, the second full quarter after its April acquisition of CapitalSource Bank, a commercial lender that targeted small and medium-sized businesses.

The Starbucks gift card is the foundation the coffee chain's mobile and rewards strategy, and for good reason. In 2013, one in eight Americans received a Starbucks gift card as a holiday gift. In 2014, it was one in seven.

BB&T and KeyCorp's quarterly results showed how more diversified regional banks can turn to their insurance sales, investment banking and other fee generators for backup until interest rates improve. Whereas the smaller Huntington Bancshares needed strong loan growth in a quarter (and year) when fees fell.

Online marketplace lender OnDeck Capital has launched a new platform to better enable institutional investors to buy small business loans OnDeck originates.

The consumer bureau and Maryland's AG allege the loan officers received consumer data and other services in return for business referrals.

Regulators have come to view macroprudential regulations as the guiding light of financial policy. But whether that strategy is working is open to debate.

New, experimental consumer marketing programs have played a significant role in the way technology has upended the payment business in recent years. And Visa is looking to get in on the action.

The Financial Stability Oversight Council said its process of reviewing large nonbanks should include earlier engagement with companies and more public disclosure, among other changes.

2014 ended roughly for some of the biggest payment companies, and 2015 will bring even more challenges from rapidly changing technology and nimble startups.

Hearing arguments in Texas case, Justice Scalia and others were skeptical that the controversial legal theory used in fair housing cases should be invalidated.