Economy

Online marketplace lending, a mushrooming business in the U.S. and the U.K., could take hold elsewhere, says Matt Burton, whose Orchard Platform is looking to expand its lender-support and analytical services internationally.

The CFPB sued Sprint on Wednesday, claiming it allowed illegal charges onto customer's cell phone bills. The case is likely to be a test of whether the agency has the power to oversee telecommunications firms.

The Electronic Transactions Association is bolstering its relationships with the nation’s four regional acquirer associations and with W.net, the organization that supports women in payments.

After spending 2014 digging out of a fiscal slump, Verifone is setting up for an aggressive product rollout in the year ahead as its recovery shifts into high gear

Rather than try to change consumers' behavior, Barclaycard is acting on research it conducted of 2,000 consumers who told the U.K. issuer what type of wearable payment device they'd prefer. Their preference: gloves.

WASHINGTON — More than two dozen Senate lawmakers signed a letter this week that urges the Federal Housing Finance Agency to drop its proposal to tighten Federal Home Loan Bank membership rules.

WASHINGTON — Lenders are moving too quickly to return to the loose underwriting standards that caused the housing crisis, according to a report released Tuesday by the Office of the Comptroller of the Currency.

One big question in the debate over regulating cryptocurrencies is whether to apply existing rules to these new technologies or craft new ones. A state regulators' trade group recognizes that there may be no one right answer.

The field of P2P competitors has grown significantly since JPMorgan Chase, Bank of America and Wells Fargo founded clearXchange LLC in 2011, and the mega-banks' initiative still looks very much like it did three years ago.

The online art marketplace Etsy is steadily expanding its range of payment services, with its latest move taking aim at social media.

Initiatives such as Apple Pay and the upcoming CurrentC wallet are placing pressure on banks and retailers to accommodate the higher transaction speed, volume and performance expected on smartphones and tablets.

Many disruptive technologies come from startups, but just as many seem to come from companies that have been around for decades. Whether developing a new system in-house or providing a necessary proving ground for a partner, these older companies are bringing fresh innovations to the payments industry.

Federal Housing Finance Agency Director Mel Watt's decision Thursday to stand up the affordable housing trust funds sharply divided lawmakers along party lines, with Democrats welcoming the decision as overdue while Republicans denounced it as a mistake.

Payments innovation usually begins in Canada and moves to the U.S., but that’s not the case for business-to-business payments, a category many ISOs overlook.

After a six-year delay, Fannie Mae and Freddie Mac will finally begin setting aside a portion of their revenues to fund the development of rental housing for low-income families.

U.S. Bancorp is taking a fresh look at wearable technology and its potential for payments and other financial functions.

Debra Rossi of Wells Fargo is assuming the Electronic Transactions Association presidency as technology and new entrants are reshaping the acquiring business

Fannie said it will immediately begin accepting applications for fixed-rate 97% loan-to-value financing of borrowers with FICO scores as low as 620. Freddie, meanwhile, took a more cautious approach, delaying the start of the program, requiring credit counseling, and in some cases only allowing FICO scores as low as 660.

U.S. lawmakers may follow their European counterparts and regulate bankers' pay if reforms aimed at ending government bailouts for lenders stall, Federal Deposit Insurance Corporation Vice Chairman Thomas Hoenig said.

The Federal Housing Administration said no county in the nation will experience a decrease from this year's loan limits.