Facebook defiant at House hearing; BNY Mellon beats despite lower profits

07/18/19

The company will work on Libra, but won’t issue digital currency without proper authority; the bank’s profit dropped 8% on reduced revenue.

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Federal court blocks HUD guidance on down payment assistance

07/17/19

The ruling deals a blow to efforts by the Department of Housing and Urban Development to restrict nonprofit housing funds from operating on a national scale.

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Fee momentum timely for U.S. Bancorp

07/17/19

Executives at the Minneapolis bank, who expect two Fed rate cuts this year, said they can rely on growth in noninterest income to soften the blow.

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CFPB urges financial institutions to report elder fraud cases

07/17/19

The consumer bureau said banks are "uniquely positioned" to know if an elderly customer is being targeted by fraudsters.

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Emboldened by CECL delay, industry seeks repeal

07/17/19

After FASB's decision to give most banks extra time to prepare, lobbying groups are pushing for more.

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BofA's plan to sustain its consumer banking mojo

07/17/19

Bank of America says rate cuts could reinvigorate mortgages and that its digital and cards strategies will help it grab more market share to offset shrinking margins.

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House lawmakers square off over Facebook's crypto plans

07/17/19

Democrats called on the social media company to halt its Libra project, while Republicans said Congress should keep the door open to innovation.

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Wells Fargo sued for denying loan to Dreamer

07/17/19

The claim of alleged discrimination over immigration status is the latest legal headache for Wells Fargo.

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Once a doubter, TD is now bullish on crypto, blockchain

07/17/19

It's created a new digital assets and distributed ledger group, trades bitcoin futures and is funding a crypto exchange.

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Agencies won't enforce Volcker Rule for foreign funds until July 2021

07/17/19

The bank regulators extended a moratorium for the proprietary trading ban for certain affiliates of foreign banks by an additional two years.

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