News Topic: Tax cuts

Banks would be better able to comply with anti-money-laundering laws if all 50 states collected information on the owners of new corporations and published it in a national database, Comptroller Joseph Otting said Monday. ... Read full article

Banks earned $59.1 billion in the fourth quarter, a 133% year-over-year increase, due to a one-time charge in the year-earlier quarter and a lower effective tax rate throughout 2018. ... Read full article

Readers respond to the Consumer Financial Protection Bureau's overhaul of its payday loans rule, debate reforms to Fannie Mae and Freddie Mac, consider regulatory exemptions for regional banks and more. ... Read full article

Depending on the asset class, about 11% to 18% of earnings per share came from tax savings. The looming question is how do they top themselves in 2019 when tax rates don’t change like they did this year. ... Read full article

Banks were helped by better loan spreads thanks to higher net interest margins, but the recently enacted tax cut helped boost profits by 27% from a year earlier. ... Read full article

The Pittsburgh bank opted to give more than half of its employees $2,000 pay hikes instead of the bonuses handed out by many rivals. ... Read full article

The booming U.S. economy continues to fuel earnings at Toronto-Dominion Bank — and Donald Trump's tax cuts will only make things better. ... Read full article

As U.S. banks were tallying up the billions of dollars in extra profits they'll reap from the sweeping tax cuts signed into law by President Donald Trump, they were quietly delivering unwelcome news to local governments: The interest rates on their ... Read full article

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. ... Read full article

Look for banks to boost dividend payouts, expand into new markets, increase their tech spending and, eventually, ramp up their C&I lending. But don't expect much in the way of M&A. ... Read full article

Buying Capital Bank Financial helped boost revenue by 17% in the fourth quarter, but one-time charges related to recent tax cuts dragged down the Memphis company's profits. ... Read full article

Executives of large banks told investors and analysts what they wanted to hear Friday when they said they plan to increase returns to shareholders. ... Read full article