Dozens of companies, including Google and PayPal, met with OCC officials last year in part to discuss obtaining a new fintech charter, but many ultimately decided not to pursue it, according to sources. Here's why.

Commercial and multifamily mortgage lenders need to figure out their plan for replacing the London interbank offered rate index potentially expiring at the end of 2021.

Covenant Review says a private issuer has gone to market with what is believed to be the first syndicated-loan deal that proposes to adopt the Federal Reserve’s Secured Overnight Funding Rate benchmark under Libor's demise. The proposal falls in line with recent recommendations for banks and issuers by a Fed working committee.

Although Libor will will not be phased out until at least 2021, Randal Quarles said making the switch early is "consistent with prudent risk management."

Although higher corporate debt could hurt the economy, Federal Reserve Chair Jerome Powell argued changes made since the last crisis will guard against a meltdown.

The portion of Americans with a car loan climbed to 35% last year from just 20% in 1999, the New York Fed said in a blog post. Auto loans first overtook mortgages in 2013 and have pulled further ahead every year since.

As the central bank board proceeds with reforms easing the post-crisis regulatory regime, the Obama-appointed governor has not shied from opposing the agency’s course.

The head of the central bank declined to provide more specifics on efforts to simplify the ban on banks’ proprietary trading.

The Federal Reserve’s Alternative Reference Rates Committee on Thursday released recommendations for language to enable contracts linked to the beleaguered Libor rate to work even if the benchmark disappears.

The findings of a new survey suggest that banks risk becoming irrelevant unless they match the speedier processes that are a key selling point for online lenders.