Banking

6:51am

Mon October 20, 2014
All Tech Considered

Will Apple's Mobile Wallet Replace Your Leather Wallet?

Originally published on Wed October 22, 2014 6:57 am

Apple Pay is demonstrated at Apple headquarters in Cupertino, Calif.
Marcio Jose Sanchez AP

On Monday, Apple is rolling out a new way to pay: a digital wallet called Apple Pay. Millions of people with the iPhone 6 and 6 Plus will be able to tap — rather than swipe — at the register.

The move could be a major change in how we shop. Or it could end up as a blip on the map that fades away, as other "mobile wallets" have in the past.

Here are some questions you might be asking:

I have a leather wallet in my back pocket. Am I going to have it a year from now, given this mobile-wallet revolution?

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3:03am

Wed October 1, 2014
Economy

Transcript: Sen. Warren's Full NPR Interview On Financial Regulation

Originally published on Wed October 1, 2014 7:17 am

"Who does Washington work for?" asked Sen. Elizabeth Warren, D-Mass., after her bill that would let people refinance student debt was shot down in June. It was a question she came back to repeatedly in an NPR interview on the Goldman Sachs bailout and federal regulation of the financial sector.
J. Scott Applewhite AP

NPR's Steve Inskeep interviewed Sen. Elizabeth Warren about the audio tapes made by Carmen Segarra, a Federal Reserve Bank of New York investigator who was examining Goldman Sachs. A full transcript of the interview follows:

STEVE INSKEEP: You described what you learned from this report as disturbing. What's disturbing about it?

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8:43am

Fri September 26, 2014
Business

Former Fed Bank Examiner Says Secret Tapes Show Fed Leniency

A former Federal Reserve employee says that audio recordings show Fed examiners being too gentle with the banks they regulate.
David Karp AP

The Federal Reserve is among the most powerful institutions in the nation and also among the more private. But new audio tapes secretly recorded by a former employee provide a rare look into meetings involving officials from the Federal Reserve Bank of New York.

In them, you hear officials considering how to oversee Goldman Sachs, and specifically, they discuss a financial transaction that one official describes as "legal but shady."

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12:43pm

Fri September 12, 2014
All Tech Considered

Apple Takes A Swipe At The Credit Card

Originally published on Tue September 16, 2014 8:40 am

Apple CEO Tim Cook speaks in Cupertino, Calif., on Tuesday. The company unveiled a new mobile payment system called Apple Pay, which uses security built into the latest iPhones.
Justin Sullivan Getty Images

It started with the iPod. In 2001, Apple promised to do away with stacks of CDs and put 1,000 songs in your pocket. Thirteen years later, the music industry is unrecognizable: Most brick-and-mortar record stores have closed, and a pocket-size hard drive filled with music seems quaint in a world with YouTube and Spotify.

We didn't know it at the time, but the introduction of the iPod began Apple's shift from Macs to consumer electronics, which resuscitated the ailing computer-maker's fortunes and helped transform it into the world's most valuable company.

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6:27pm

Wed May 7, 2014
Marijuana

Colorado Approves Financial System For Marijuana Industry

Colorado lawmakers have voted to create the a financial system for the state's burgeoning legal marijuana industry.

After Colorado legalized pot in 2013, it still had no financial mechanism for legal marijuana businesses. Washington has also approved the sale of marijuana for recreational purposes.

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