Stories tagged: banking
Mon., April 17, 2017, 11:05 a.m.
Woman wearing pajama bottoms robs 6 banks, police say
Police have arrested a Utah woman believed to be the pajama-wearing robber in at least six bank robberies in the Salt Lake City area, including five in less than two …
Thu., April 13, 2017, 7:53 a.m.
Mortgage rates fall to their lowest levels of the year
According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average slipped to 4.08 percent with an average 0.5 point. (Points are fees paid to a lender …
UPDATED: Mon., April 10, 2017, 5:29 p.m.
Wells Fargo claws back $75 million from top bosses in sales scandal
An investigation into sales practices at Wells Fargo released Monday has blamed the bank’s top management for creating an “aggressive sales culture” that led to a scandal involving millions of …
UPDATED: Fri., April 7, 2017, 8:17 p.m.
Advisory firm: Vote out most of Wells Fargo’s board
An influential firm that advises big shareholders says the majority of Wells Fargo’s board of directors should be removed at the bank’s annual shareholders meeting later this month, accusing the …
Thu., April 6, 2017, 8:54 a.m.
Average 30-year mortgage rate falls to 4.10 percent
Long-term U.S. mortgage rates fell this week for a third straight week, approaching their low points for the year.
Tue., April 4, 2017, 8:56 a.m.
Missoula to pull $2.6 million from Wells Fargo accounts over oil pipeline investments
The Missoula City Commission has voted to pull $2.6 million of the city’s money from Wells Fargo accounts because the bank is invested in the Dakota Access Pipeline and because …
UPDATED: Fri., March 31, 2017, 8:37 p.m.
Dutch authorities carry out raids in tax evasion probe
Dutch authorities have carried out raids in multiple countries in an investigation into dozens of people suspected of tax evasion and money laundering via an unidentified Swiss bank.
Fri., March 31, 2017, 8:23 a.m.
South Africa faces turmoil after firing of finance minister
South Africa faced political and financial turmoil on Friday after President Jacob Zuma fired the finance minister in a Cabinet reshuffle, intensifying a rift in the party that took power …
Thu., March 30, 2017, 7:53 a.m.
Average 30-year mortgage rate slips to 4.14 percent
Long-term U.S. mortgage rates fell this week for a second straight week, slipping further from their highest levels of the year reached two weeks ago.
UPDATED: Tue., March 28, 2017, 7:35 p.m.
Wells Fargo to pay $110 million to settle fake account suit
Wells Fargo has agreed to pay $110 million to settle a class-action lawsuit over up to 2 million accounts its employees opened for customers without getting their permission, the bank …
UPDATED: Thu., March 23, 2017, 5:45 p.m.
U.S. probe of ex-Trump campaign chief Paul Manafort extends to Cyprus
U.S. Treasury Department agents have recently obtained information about offshore financial transactions involving President Donald Trump’s former campaign chairman, Paul Manafort, as part of a federal anti-corruption probe into his …
Thu., March 23, 2017, 7:40 a.m.
Average 30-year mortgage rate slips to 4.23 percent
Long-term U.S. mortgage rates slid this week from their highest levels of 2017.
Fri., March 17, 2017, 12:05 p.m.
Wells Fargo CEO: Fixing fake accounts will take more time
Wells Fargo CEO Tim Sloan said the company could need several more months to resolve customer damage tied to its massive sales practices scandal, such as figuring out if people …
Sat., March 11, 2017, 1:58 p.m.
Women now rule banking in Thailand
As one of four presidents at Thailand’s biggest lender, Kasikornbank, Kattiya Indaravijaya often conducts interviews for senior positions. The job candidates are impressive. And almost always, they’re women.
UPDATED: Thu., March 9, 2017, 10:33 a.m.
Trump promises community bankers he will ease regulations
President Donald Trump assured a group of U.S. community bank executives he’ll deliver regulatory changes that will make it easier for them to lend money.
Fri., March 3, 2017, 8:07 a.m.
Yellen to speak after Fed officials hint rate hike is near
One by one, several Federal Reserve officials have signaled in recent days that the Fed is ready to resume raising interest rates as soon as this month. The question is …
Thu., March 2, 2017, 8:02 a.m.
Average 30-year mortgage rate falls to 4.10 percent
Long-term U.S. mortgage rates fell this week, breaking a holding pattern that prevailed for more than a month.
Wed., March 1, 2017, 11:38 a.m.
Wells Fargo cuts pay for CEO, other top executives
Wells Fargo’s board of directors slashed the bonuses and other compensation of its CEO and seven other top executives on Wednesday, a little more than a week after the board …
Tue., Feb. 28, 2017, 8:49 a.m.
U.S. banks’ profits up 7.7 percent in Q4; lending grows
U.S. banks’ earnings in the final quarter of 2016 rose 7.7 percent from a year earlier, as lending continued to grow and banks set aside less for losses on loans …
Sat., Feb. 11, 2017, 1:59 p.m.
Records dispute Mnuchin’s denial of mortgage-crisis ‘robosigning’
King County foreclosure records indicate a bank founded by Steven Mnuchin, who is up for a Senate confirmation vote Monday as the nation’s treasury secretary under President Donald Trump, engaged …
Fri., Feb. 10, 2017, 9:51 a.m.
Fed urged to nix stress tests as GOP pushes banks’ wish list
Republican lawmakers are increasingly going after a target that’s long triggered compliance headaches for Wall Street: the Federal Reserve’s annual assessments of whether banks can survive financial meltdowns.
UPDATED: Thu., Feb. 9, 2017, 6:11 p.m.
GOP preparing plan to gut consumer protection bureau
A Republican plan to dismantle Wall Street reform would strip the Consumer Financial Protection Bureau of many of its powers, including eliminating its consumer complaint database and scaling back its …
UPDATED: Mon., Jan. 30, 2017, 12:37 p.m.
Citi to exit mortgage servicing, sell $97 billion portfolio
Citigroup plans to exit the mortgage-servicing business by the end of 2018 to focus on making new loans.
Fri., Jan. 27, 2017, 4:13 p.m.
FBI: Memphis credit union robber arrested in Seattle
The FBI says agents from its Seattle field office have arrested a man charged with robbing a credit union in Tennessee.
Fri., Jan. 27, 2017, 12:59 p.m.
Sen. Warren asks why Wells Fargo complaint website vanished under Trump administration
Sen. Elizabeth Warren wants the acting Labor secretary to explain why a website for complaints from Wells Fargo & Co. employees disappeared after President Donald Trump took office, and she …
Fri., Jan. 13, 2017, 2 p.m.
Profits at big banks surged last year as ‘Trump rally’ boosts bottom line
Profits at JPMorgan Chase and Bank of America surged last year, the banks said Friday as the industry receives a boost from a stock market rally that accelerated after the …
Tue., Dec. 27, 2016, 10:31 a.m.
Congress’ budget patch averts national farm loan crisis
U.S. farmers drained all available government agricultural loan money this past fiscal year to get through one of the worst agricultural downturns in recent years, but no one who qualifies …
Wed., Dec. 14, 2016, 12:57 p.m.
Regulators reject Wells Fargo’s plan to prevent another taxpayer bailout of big banks
Wells Fargo still doesn’t have a credible plan for winding down its operations without taxpayer help if it should start to fail, federal regulators said Tuesday, putting new restrictions on …
Tue., Dec. 13, 2016, 2:39 p.m.
Regulators slap curbs on Wells Fargo for ‘living will’ plan
WASHINGTON – Federal regulators have slapped restrictions on Wells Fargo, finding that the big bank failed to adequately plug holes in the plan it would deploy if it fell into …
Mon., Dec. 12, 2016, 9:50 a.m.
With Fed expected to hike rates, attention turns to what it says
There isn’t much doubt about what the Federal Reserve will do when its latest policy meeting ends Wednesday: It’s all but certain to raise its benchmark interest rate – its …