News Topic: tax

Transportation and clean-energy upgrades could create significant new lending opportunities, but some observers fear the government will foot the bill through a special tax on banks and other financial firms. ... Read full article

After three years of savings, top U.S. banks could face an increased tax bill of as much as $11 billion a year if President-elect Joe Biden moves forward with corporate rate hikes he campaigned on. ... Read full article

Now that Democrats have won control of the Senate following the Georgia runoffs, experts say tax increases, progressive regulators and stricter congressional oversight await. Still, there could be some positives for banks, too. ... Read full article

A blueprint that includes more CRA and tax credits for lower-income African Americans would help a demographic disproportionately harmed by the coronavirus pandemic. ... Read full article

Bankers may not want to hear this, but communities benefit when credit unions buy banks. ... Read full article

Readers react to the FDIC's fine against a bank over a 5-year-old consent order, Regions Financial's about-face on acquisitions, HUD's promotion of a controversial CFPB official and more. ... Read full article

Readers react to Sen. Warren calling for banks to fund her Medicare plan, a proposal requiring big-bank CEOs to testify before Congress, federal regulators missing Trump-appointees on their board and more. ... Read full article

A special committee in the state Senate has recommended not to move forward on a proposed bill to tax credit unions above a certain asset threshold. ... Read full article

Readers react to a regulator's promise to reduce regulation that hinders innovation, Sen. Elizabeth Warren's plan to impose heavier taxes on lobby groups, Freddie Mac's exploration into AI and more. ... Read full article

The North Carolina company was hit with a tax penalty tied to its purchase of Chattahoochee Bank of Georgia. ... Read full article

Federal "Opportunity Zones" that reduce exposure on capital gains could draw rich investors — and commercial lenders along with them — into economic development projects in thousands of troubled communities around the country. ... Read full article

Earnings were bolstered by lower taxes and higher asset-servicing fees, but revenue was flat and analysts raised concerns about a shrinking deposit base. ... Read full article

Policymakers are right to re-examine the industry’s exemption and the unfair competitive advantage it provides. ... Read full article

What are community banks doing with savings from the corporate tax cut? Several CEOs share how they've put that money to use. ... 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

The new tax law took a one-time bite out of fourth-quarter results, but higher rates strengthened yields and new business boosted fee income. ... Read full article

The new tax law led to a nearly $16 million charge at the Pennsylvania bank, but it reported 7% loan growth and an 8% increase in fee income. ... Read full article

The company expects to report a $15 million gain in the fourth quarter from the stock sales, which will more than offset any deferred-tax impairment tied to recently passed tax reform. ... Read full article