Economy

Officials at Fannie Mae, Freddie Mac, and Ginnie Mae all heaped praise on nonbank mortgage lenders for stepping up to provide loans for home purchases at a time when many banks have scaled back.

U.S. regulators are close to a final decision to label MetLife Inc. systemically important, two people with knowledge of the matter said, setting up a potential legal battle with the country's largest life insurer.

Earthport, a cross-border payments service provider, has partnered with the digital currency network provider Ripple Labs to allow enterprise businesses, including banks, to more efficiently transmit money worldwide.

Earthport, a cross-border payments service provider, has partnered with the digital currency network provider Ripple Labs to allow enterprise businesses, including banks, to more efficiently transmit money worldwide.

Many consumers finally have EMV cards or can access the same security through Apple Pay’s new mobile wallet. But will they change their habits?

Square is adding global support for its Register merchant services app, a move that enables the company to measure demand in new markets before investing in the distribution of its hardware and other services.

Nearly four years ago, U.S. Bancorp debuted a medical bracelet that could also make payments. The product was short-lived, but the bank is taking a fresh look at the advancement of wearable technology in recent years and its potential for payments and other financial functions.

New York State Attorney General Eric Schneiderman today announced the launch of a financial consumer education web app called AGScamHelp.

Apple Pay launched in late October, facing a few early hiccups and an unclear future. But in the month of November, Apple's strategy began to come into focus even as competitors closed in.

Although regulators say the bank's resolution plan still has "specific shortcomings," Wells Fargo appears closer than other banks in fulfilling the Dodd-Frank requirement.

The billionaire investor George Soros is in talks to throw his support behind the peer-to-peer finance industry, which is increasingly leaning on traditional capital sources to lower its costs of funding.

Dekkers Davidson, CEO of the Merchant Customer Exchange, wants to create the same type of disruption in mobile payments as Uber did in the taxi world.

Growing income inequality is said to be a major reason most consumers plan to spend the same or less than last year on holiday shopping, and it could hurt bank and credit union revenues in the fourth quarter and present them other long-term challenges.

In Bangladesh, the microfinance pioneer operates as profitable bank. But the U.S. arm, which lacks a banking license, is pursuing a different strategy.

Many companies have found it difficult to build consumer interest in using a dedicated app for payments, particularly for person-to-person payments. Some companies have determined that the best way to keep users engaged is to blend payment capabilities with social networking.

Swipely began promoting its services through ISOs, value-added resellers and other third parties about a year ago, and the channel now accounts for a third to a half of the company's new customers.

WASHINGTON — The Financial Stability Oversight Council needs a more formal system for monitoring its process for designating nonbanks as "systemically important," a watchdog said Thursday.

Square is adding global support for its Register merchant services app, a move that allows the company to measure demand in new markets before investing in the distribution of its hardware and other services.

Alternative lender FastPay, which specializes in lending to digital media startups, received $15 million from newly formed Oak HC/FT, a $500 million growth-equity fund that invests in health care and financial technology.

Swipely began promoting its services through ISOs, value-added resellers and other third parties about a year ago, and the channel now accounts for a third to a half of the company's new customers.