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Stories tagged: banks


Amazon’s finance ambitions are said to draw attention from Fed

U.S. banks are keeping a watchful eye on the ambitions of Amazon.com and other technology giants to break into the world of finance. So is the Federal Reserve.


Mick Mulvaney does not want you to see complaints against banks that bankrolled his campaigns, report says

A review of Mulvaney’s campaign contributions finds some overlap between the two issues: Eight of the 10 companies subject to the most consumer complaints about their banking practices contributed to …


Big banks saved $3.6B in taxes last quarter under new law

The nation’s six big Wall Street banks posted record, or near record, profits in the first quarter, and they can thank one person in particular: President Donald Trump.


Stocks jump as technology, industrials and banks rally

U.S. stocks are climbing Thursday morning as technology companies, banks and industrial companies rally. Companies including Delta Air Lines and BlackRock are rising after they reported strong results in the …


UPDATED: Wed., April 11, 2018, 2:38 p.m.

Banks and technology stocks fall; oil rises to 3-year high

Companies including banks and technology and health care firms fell Wednesday after U.S. stocks had surged the day before. Oil prices hit a three-year high after President Donald trump tweeted …


UPDATED: Thu., March 15, 2018, 6:02 p.m.

Senate passes Crapo’s bill easing banking rules

The Senate passed a bill penned by Republican Senator Mike Crapo of Idaho Wednesday designed to ease bank rules that were enacted to prevent a relapse of the 2008 financial …


Banks, industrials fall as trade tensions hit stocks again

U.S. stocks sank again Wednesday as investors worried about tariffs and rising trade tensions. That hurt industrial companies, while banks slumped along with interest rates.


UK leader tries to ease concerns of banks in Brexit talks

British Prime Minister Theresa May is trying to ease bankers’ concerns after she torpedoed one of their biggest demands for Brexit during a speech on the country’s future relationship with …


UPDATED: Mon., Feb. 5, 2018, 8:09 p.m.

Stocks go on a wild ride, briefly sending Dow down 1,600

The Dow Jones industrial average plunged more than 1,100 points Monday as stocks took their worst loss in six and a half years. Two days of steep losses have erased …


Banks, energy companies lead rebound in U.S. stocks

Banks and energy companies led U.S. stocks higher Thursday, erasing modest losses from the day before. Retailers and makers of consumer products also posted solid gains. Small-company stocks rose more …


Federal regulators approve ‘living wills’ for eight large banks

Federal regulators on Tuesday announced they had approved the disaster plans for the nation’s eight largest and most complex banks outlining the strategies they would deploy if they fell into …


Years after Lehman: final rules set on strengthening banks

A global forum of banking regulators has finished its years-long work on rules that aim to keep weak banks from needing taxpayer bailouts and setting off financial crises like the …


UPDATED: Tue., Nov. 7, 2017, 7:13 p.m.

Seattle bank’s app among numerous technologies targeting ATM theft, other fraud

Even though ATM skimming has not yet become a major problem in the Northwest, a Seattle-based bank wants to be ahead of the crime wave by rolling out technology that …


Robots in finance bring new risks to stability, regulators warn

Banks and hedge funds that rely on artificial intelligence threaten to inject risks into the financial system that could exacerbate a future crisis, according to global regulators.


Editorial: GOP disarms little guy in bank fights

You cannot band together with other aggrieved parties and go to court, even if there’s a demonstrated pattern of abuse by the corporations affecting millions of customers.


Big banks score win with scrapping of consumer dispute rule

President Trump and Republicans in Congress handed Wall Street banks a big victory by effectively killing off a politically popular rule that would have allowed consumers to band together to …


Senate kills new rule allowing class-action lawsuits against banks after Pence casts deciding vote

The Senate voted Tuesday night to kill a controversial rule that would have allowed Americans to file class-action suits against banks instead of being forced in many cases into private …


Turkey regulators say no U.S. probe into banks, denying reports

Turkish banks aren’t under investigation and U.S. authorities haven’t sent any information or documents to their Turkish counterparts, Mehmet Ali Akben, the head of the Banking Regulation and Supervision Agency, …


Morocco recalls envoy over Algeria official’s hashish claims

Morocco has recalled its ambassador to Algeria after the Algerian foreign minister claimed Moroccan banks launder money from hashish trafficking.


UPDATED: Wed., Oct. 4, 2017, 2:13 p.m.

Yellen: Fed committed to easing regulations on smaller banks

Federal Reserve Chair Janet Yellen says the Fed is committed to making sure that the regulations it imposes on the nation’s community banks are not unduly burdensome, noting a proposed …


UPDATED: Tue., Sept. 26, 2017, 2:46 p.m.

Trump vows to ‘fix the mess’ as U.S. targets North Korea banks

New U.S. sanctions will punish eight North Korean banks and 26 bank workers living abroad, the Trump administration announced Tuesday, in the first use of new sanctioning powers granted by …


China: Trump bank ban statement ‘not consistent’ with facts

President Donald Trump’s announcement that Beijing told its banks to stop dealing with North Korea is “not consistent with the facts,” a Chinese foreign ministry spokesman said Friday, but he …


UPDATED: Fri., Aug. 25, 2017, 2:29 p.m.

Yellen defends banking overhaul passed after 2008 crisis

Federal Reserve Chair Janet Yellen on Friday defended the web of regulations the Fed helped enact after the 2008 financial crisis, saying it helped restore the banking system’s health and …


UPDATED: Fri., Aug. 18, 2017, 9:08 a.m.

U.S. stocks slide again as industrial companies and banks drop

U.S. stocks continue to skid Friday morning as industrial companies fall after a weak report from farm equipment giant Deere. Banks are also down as bond yields continue to slide, …


UPDATED: Tue., July 25, 2017, 3:25 p.m.

Republicans moving to repeal financial rule opposed by banks

The Republican-led House is seeking to overturn a rule that would let consumers join together to sue their banks or credit card companies rather than use an arbitrator to resolve …


UPDATED: Thu., June 22, 2017, 6:19 p.m.

Fed: Biggest U.S. banks strong enough to withstand recession

All of the 34 largest U.S. banks are fortified enough to withstand a severe U.S. and global recession and continue lending, the Federal Reserve said Thursday.


Dems shift financial debate to spotlight Trump’s empire

The Republican drive to overhaul financial regulations on Wednesday turned into a contentious debate over Democratic efforts to cast a spotlight on President Donald Trump’s business empire and his refusal …


Wells Fargo rolls out card-free access at all of its ATMs

Starting on Monday, Wells Fargo will be the first major U.S. bank to offer a card-free option at all of its ATMs. The bank’s customers will be able to use …


Stocks surge in early trading; Dow crosses 21,000 points

Banks and other financial companies led U.S. stocks sharply higher in morning trading Wednesday, pushing the Dow Jones industrial average above 21,000 points for the first time. Energy and materials …


Robert J. Samuelson: Dodd-Frank cripples next response

The real Dodd-Frank scandal is that this misinterpretation of events, widely embraced by both parties, has been allowed to stand.