In the second lawsuit of its kind, more than a dozen of the world's largest banks are accused of price fixing on roughly $486 billion of bonds issued by Fannie Mae and Freddie Mac.
The bill by Sens. Kevin Cramer, R-N.D., and John Kennedy, R-La., would block banks and credit unions with over $10 billion of assets from refusing service to "customers that may not share the same political values."
The bank was fined $25 million for what the Office of the Comptroller of the Currency said was an inability to provide the discounts to all who were eligible.
BB&T-SunTrust deal came together with remarkable speed; Citi and Chase take on fintechs at their own game; CECL spells trouble for small banks, consumers; and more from this week’s most-read stories.
The upstart lenders have been chipping away at credit cards’ consumer-lending dominance by offering fixed-rate loans with predictable repayment plans. Now the card giants are fighting back.
Is it realistic to think Wells Fargo might get a new female CEO? How one fintech makes women feel welcome, and how another fosters innovation. Plus some of our Most Powerful Women make big moves – two retire, one jumps from BNY Mellon to Amex, one exits a board and another joins one.
JPMorgan's Dimon: Square innovated where we should have; this company simplifies bank switching (and banks pay for it); BB&T-SunTrust deal has Atlanta banks licking their chops; and more from this week's most-read stories.
