Stories tagged: banking
FRIDAY, 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 …
TUESDAY, 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 …
WEDNESDAY, 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 …
TUESDAY, 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 …
MONDAY, 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 …
MONDAY, DEC. 12, 2016, 9:02 A.M.
Supreme Court upholds broad reach of bank fraud law
The Supreme Court on Monday upheld the broad reach of a federal law prohibiting bank fraud, a ruling that gives the government more leeway to prosecute financial crimes.
SATURDAY, DEC. 10, 2016, 6:38 A.M.
Trump deepens Goldman Sachs ties as he builds out economic team
In the heat of the presidential campaign, Donald Trump accused primary rival Ted Cruz of being controlled by Goldman Sachs because his wife, Heidi, previously worked for the Wall Street …
THURSDAY, DEC. 8, 2016, 7:22 A.M.
30-year average mortgage rate rises to 4.13 percent
Long-term U.S. mortgage rates climbed for the sixth straight week in the aftermath of Donald Trump’s election win, marking new highs for the year.
WEDNESDAY, DEC. 7, 2016, 8:06 A.M.
JPMorgan hit hardest as EU fines rate-rigging trio $521 million
JPMorgan Chase, HSBC Holdings and Credit Agricole were fined a total of 485.5 million euros ($521 million) for rigging the Euribor benchmark as European Union antitrust regulators wrapped up a …
WEDNESDAY, DEC. 7, 2016, 8:04 A.M.
Two Abu Dhabi banks to merge into largest Gulf Arab bank
Stockholders at two Abu Dhabi banks have agreed to a plan to merge the firms, which would create the biggest bank in the Gulf.
FRIDAY, DEC. 2, 2016, 2:45 P.M.
Stocks tread water as big dividend payers jump and banks dip
Investors are making a small move back to traditionally safe assets Friday afternoon after the rally of the last few weeks. Bonds are rising, as are real estate, telecommunication and …
FRIDAY, DEC. 2, 2016, 11:45 A.M.
Indonesia to host IMF-World Bank annual meeting in 2018
Indonesia has been selected to host the 2018 Annual Meetings of the International Monetary Fund (IMF) and World Bank on the resort island of Bali, during which central bankers and …
FRIDAY, DEC. 2, 2016, 7:29 A.M.
Foreign spies ready to enact cyberattacks on Russia’s banks, nation says
Russia accused foreign spy agencies of preparing cyberattacks in dozens of cities to try to undermine its banking system.
THURSDAY, DEC. 1, 2016, 2:49 P.M.
Wells Fargo splits chairman, CEO roles after sales scandal
Wells Fargo is splitting the jobs of chairman and CEO and making other major changes to the composition of its board of directors in an effort to make the bank …
THURSDAY, DEC. 1, 2016, 1:56 P.M.
Oil and banks take Dow to new highs, but tech companies dive
Technology companies plunged Thursday, and high-dividend stocks also took hefty losses as bond yields rose to their highest level in more than a year. But more big gains for blue-chip …
THURSDAY, DEC. 1, 2016, 7:57 A.M.
Mortgage rates reach highs not seen in more than a year
Mortgage rates sustained their upward march this week without any indication that their trajectory will slow anytime soon.
TUESDAY, NOV. 29, 2016, 8:57 A.M.
U.S. bank earnings up nearly 13 percent in 3Q
U.S. banks’ earnings in the July-September period jumped nearly 13 percent from a year earlier as continued growth in lending fueled interest income.
MONDAY, NOV. 28, 2016, 2:29 P.M.
Stocks pull back from records; banks, retailers fall
Stocks pulled back slightly on Monday, retreating from the records the market set last week.
SUNDAY, NOV. 27, 2016, 7:07 A.M.
No credit history, no problem: Lenders now look at phone data
Financial institutions, overcoming some initial trepidation about privacy, are increasingly gauging consumers’ creditworthiness by using phone-company data on mobile calling patterns and locations.
FRIDAY, NOV. 25, 2016, 7:25 A.M.
U.S. stocks are rising in early trading in shortened session
Stocks are rising in early trading Friday as the market continues a record-setting run. Trading was relatively quiet as investors returned from the Thanksgiving holiday in the U.S. Safe-play stocks …
TUESDAY, NOV. 22, 2016, 11:53 A.M.
Wells Fargo must now get permission before handing executives ‘golden parachutes’
Federal regulators are moving to make it more difficult for Wells Fargo to make executive changes or give departing executives departure packages known as “golden parachutes,” the latest signal that …
THURSDAY, NOV. 17, 2016, 4:01 P.M.
Yellen says she isn’t going anywhere when Trump takes office
Federal Reserve Chair Janet Yellen appears unruffled by incoming President Donald Trump’s victory last week.
THURSDAY, NOV. 17, 2016, 1:59 P.M.
Wells Fargo new accounts tumble 44% in wake of sales scandal
Wells Fargo & Co. said retail customers opened 44 percent fewer new accounts in October from a year earlier in the wake of the bank’s record-setting settlement with regulators over …
THURSDAY, NOV. 17, 2016, 9:17 A.M.
House votes to prohibit sale of commercial aircraft to Iran
The Republican-led House has voted convincingly to approve legislation that would bar the sale of commercial passenger aircraft to Iran.
THURSDAY, NOV. 17, 2016, 8:33 A.M.
JPMorgan Chase to pay $264 million in Chinese bribery case
JPMorgan Chase & Co. has agreed to pay $264.4 million in fines to federal authorities to settle charges that it hired friends and relatives of Chinese officials in order to …
WEDNESDAY, NOV. 16, 2016, 2:56 P.M.
Fed rate-hike odds approach 100 percent in Anticipation of Trump
Analysts spent early November warning a Trump victory in the U.S. presidential election would make the Federal Reserve less likely to raise interest rates. What happened instead is that it …
WEDNESDAY, NOV. 16, 2016, 11:59 A.M.
Banking plan aims to end ‘too-big-to-fail’ risks
Federal Reserve Bank of Minneapolis President Neel Kashkari proposed a series of new rules for banks and non-bank lenders that he said would eliminate the threat posed by financial institutions …
FRIDAY, NOV. 11, 2016, 10:02 A.M.
Bonds plunge by $1 trillion this week as Trump seen as game changer
More than $1 trillion was wiped off the value of bonds around the world this week as U.S. President-elect Donald Trump’s policies are seen boosting spending and quickening inflation.
SATURDAY, NOV. 5, 2016, 9:01 A.M.
Bro culture emboldened as Wall Street women endure Trump effect
The snickering and the “nasty woman” jokes that echo across trading floors when Hillary Clinton appears on TV. The mansplaining from the boss on how locker-room talk really is just …
THURSDAY, NOV. 3, 2016, 2:53 P.M.
Wells Fargo says SEC is investigating accounts scandal
Wells Fargo & Co. confirmed Thursday that the U.S. Securities and Exchange Commission has joined the growing number of state and federal agencies investigating the company’s sham-accounts scandal.