News Topic: Tax reform

With tax reform close to the finish line, bankers are still clear winners from the compromise worked out between House and Senate negotiators. But the bill includes some caveats that might give institutions pause. ... Read full article

Lawmakers should preserve the credit meant to spur economic development as part of sweeping tax reform being debated in Congress this week. ... Read full article

Interactive Brokers says it will allow customers to bet against the cybercurrency; aides to Alabama senator drafted for key regulatory positions to ease banking rules. ... Read full article

It’s only early December, but bank CEOs’ comments this week about tax reform, their thirst for deposits, consumer lending initiatives, and challenges in commercial lending offer a sneak peek at what’s coming when earnings season begins next month. ... Read full article

Digital currency surges past both $12,000 and $13,000 on Wednesday; the bank may make it back quickly, depending on the corporate income tax rate. ... Read full article

During an industry conference Tuesday, executives from PNC, Wells Fargo, JPMorgan Chase and elsewhere offered differing takes on whether the Republican tax plan will boost loan demand. ... Read full article

A provision in the original Senate tax reform bill would have required companies acquiring mortgage servicing rights to pay taxes upfront for their anticipated servicing income. ... Read full article

The financial services industry has cheered a proposed reduction in the corporate tax rate, but a lower rate could force Fannie Mae and Freddie Mac to write down assets, increasing the odds that the companies will need Treasury support. ... Read full article

The House-passed tax bill would eliminate the New Markets Tax Credit while the Senate bill would not reauthorize it when it expires in two years. Bankers and other proponents say that if it is discontinued many economic development projects in rural and ... Read full article

Banks would be big winners if Congress slashes corporate tax rates and they will have no shortage of options for deploying all that extra cash. ... Read full article

While the Bank of America chief says he is encouraged by progress on tax reform, he cautioned that it remains politically and fiscally tough to accomplish, and that the wrong moves on immigration could offset some of the gains from tax cuts. ... Read full article

The Senate tax proposal released Thursday would cap the mortgage interest deduction for properties worth $1 million, a reversal from the House plan that would have limited the deduction to $500,000. ... Read full article

Here's a look at the 12 housing markets with the largest percentages of mortgages over $500,000 — the new threshold House Republicans have proposed for the mortgage interest deduction in their tax plan. ... Read full article

Bank lobbyists are increasingly worried that the Senate Republicans may go further than the House in taxing large financial institutions as part of their reform push. ... Read full article

A House Republican tax proposal that infuriated housing groups and sent homebuilder stocks sliding would only have a modest impact on the market for new homes and could end up being a net positive for the industry, according to Keefe, Bruyette & Woods ... Read full article

Top banking executives called the Republican tax plan an important first step toward tax reform and economic stimulus, but questions immediately arose about whether trade-offs and complexities in the bill would undercut it. ... Read full article

Hopes that tax reform might soften a weakening of the mortgage interest deduction were quickly dashed as the GOP plan landed a double punch on the incentive cherished by the mortgage and housing industries. ... Read full article

But the home mortgage deduction for existing mortgages would be preserved, according to a two-page outline of the House GOP tax reform bill. Meanwhile, homebuilder stocks initially plunged. ... Read full article