Economy

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.

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.