A coalition of free-market-oriented groups is calling on Senate Finance Committee Chairman Orrin Hatch to rethink his push for a new tax on credit unions.
Several banks suffered fourth-quarter hits when they reduced the value of certain energy investments. Still, renewable energy could remain a viable business thanks to other benefits embedded in the tax law.
Commercial lending and mortgage income surged in the fourth quarter at the West Virginia bank thanks to two acquisitions, but a tax charge cut into profits.
The Chicago custody bank won new fund-administration business and benefited from the acquisition of a UBS asset-management unit. A one-time adjustment tied to the new tax law also provided a boost.
