Payments: Page 33
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CFPB to end mortgage exception for Fannie, Freddie
A "patch" that lets Fannie Mae and Freddie Mac offer mortgages to borrowers with a debt-to-income ratio above 43% is expiring.
By Dan Ennis • July 26, 2019 -
Deep Dive
2020 election: Where the candidates stand on banking
Biden running mate Sen. Kamala Harris introduced a bill to give states the authority to enforce their laws against nationally chartered banks. She also negotiated with banks to compensate homeowners after the 2007-08 crisis.
By Banking Dive staff • Updated April 8, 2020 -
David McNew via Getty Images
Borrowers find unlikely ally in reverse mortgage morass — Bank of America
Ditech Holdings' attempt to sell its reverse mortgage business could put senior citizens' income in limbo — and it's drawing fire from attorneys general and the U.S.'s second-largest bank.
By Dan Ennis • July 25, 2019 -
Bank ties, new campaign push Zelle to big gains
The Zelle platform, which is owned by a consortium of the country's largest banks, could see continued growth as more financial institutions adopt the mobile app.
By Anna Hrushka • July 25, 2019 -
Almost half of student-loan borrowers paying inconsistently, study shows
For one in four families, student loan payments are outpacing spending for out-of-pocket health care, JPMorgan Chase Institute research indicates.
By Dan Ennis • July 24, 2019 -
[Photograph]. Retrieved from PxHere.
College loan debt widens wealth gap for black borrowers, report says
Black students take on more debt at higher rates, which a new report suggests can be alleviated through key policy changes around oversight.
By Shailaja Neelakantan • July 24, 2019 -
Senators ask Powell why Fed is mulling own real-time payments system
Large banks have invested more than $1 billion in a network, The Clearing House, launched in 2017. But retailers and small banks have raised concerns about the system's cost and reach.
By Dan Ennis • July 23, 2019 -
Fotolia
Private student loans see 'small resurgence' as tuition rises, lenders relax
Rising college costs and more flexible terms are reviving interest in private loans, though they're mostly limited to higher-income students.
By Hallie Busta • July 19, 2019 -
Ally abandons credit card business for point-of-sale loan model
Ally Financial hopes its $190 million purchase of a medical lending company will push its point-of-sale capabilities to other retail sectors.
By Dan Ennis • July 19, 2019 -
PayPal expands Xoom, launches blockchain startup in Europe
PayPal's expansion of Xoom puts it in direct competition with other leading international money remittance services like MoneyGram and TransferWise, all fighting for a slice of the $689 billion global remittance market.
By Anna Hrushka • July 18, 2019 -
Nevada to pilot closed-loop payments system to serve marijuana-related businesses
The proposal would eliminate the large amounts of cash the state's pot businesses must deal with by creating an online system where digital currency transactions could be made.
By Anna Hrushka • July 17, 2019 -
KeyCorp faces $90M loss over client's bad wire transfers
The bank claims a payroll processing company made a $122 million overdraft and the company's CEO knew there wasn't enough money to cover the wire transfers.
By Dan Ennis • July 17, 2019 -
Lawmakers raise money laundering concerns during Libra hearing
Lawmakers both supportive and wary of the launch of Facebook's cryptocurrency were concerned over how the social media giant plans to limit "bad actors" from using the currency.
By Anna Hrushka • July 16, 2019 -
Lawmakers schedule hearings ahead of Facebook's cryptocurrency launch
The Silicon Valley-based company said Libra, which is scheduled to launch in early 2020, is already backed by dozens of companies — including Uber and Mastercard — to be managed by the independent nonprofit, Calibra.
By Anna Hrushka • July 1, 2019 -
Amazon
Amazon launches credit account with Prime-member perks
Cardholders will be able to make purchases on Amazon.com up to their credit limit, as well as receive free access to credit guidance and tools.
By Tatiana Walk-Morris • June 11, 2019 -
Fotolia
Visa, Currencycloud partner to streamline cross-border payments
Cross-currency wallets and foreign exchange transaction notifications could make tourism spending easier during a trade-war lull.
By Lisa Rowan • June 6, 2019 -
PayPal enables Instant Transfer to banks for faster cash access
Consumers — and soon businesses — can get money to bank accounts or debit cards in minutes through the new service.
By Dan O'Shea • March 14, 2019
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