Fintech

The BSBY interest rate benchmark was originally envisioned as a successor to the once-ubiquitous Libor rate. But it failed to gain much traction, and Bloomberg now plans to shut it down next year.

In Canada and the U.K., borrowers can take mortgages with them from home to home. Some say this feature could unlock the U.S. housing market, but others say it would be more trouble than it's worth.

Capping interest rates may be popular with consumers, and ultimately voters, but doing so would actually hurt those advocates are trying to help.

A national interest rate cap of 36% would protect consumers from predatory practices that exploit their desperation and would level the playing field with responsible lenders who offer fair and transparent products.

Canada's government is preparing legislation to promote open banking development, Mastercard has gained approval to process payments in China, and more.

Some proposed changes to uniform mortgage-backed securities, apartment loans and derivatives will be made while one involving credit reports and scores was pulled.

Bankers are hopeful that several factors could strengthen profits next year, including higher loan demand and more stable funding costs as the Fed holds the line on — or even lowers — interest rates.

The blockchain company is targeting non-financial clients and new geographic regions in a series of product rollouts.

Ant Group's quarterly profit fell by 65%, dented by a one-time fine that signaled the end of China's yearslong crackdown on the tech industry.

Share prices climbed sharply amid increased optimism about the outlook for interest rates. Regional banks that got hammered earlier this year were among the biggest winners.