More banks spreading the wealth after Trump signs tax bill
Bank of America, PNC join a growing list of banks planning to use the anticipated savings from the reduction in the corporate tax rate to boost wages for employees. ... Read full article
Bank of America, PNC join a growing list of banks planning to use the anticipated savings from the reduction in the corporate tax rate to boost wages for employees. ... Read full article
A federal judge appeared to be leaning toward siding with President Trump during oral arguments Friday in a case in which Consumer Financial Protection Bureau Deputy Director Leandra English is challenging the president's ability to appoint Mick ... Read full article
Sen. Elizabeth Warren, D-Mass., and four other Democrats on the Senate Banking Committee are insisting on a recorded vote by the full Senate for the nomination of Brian Montgomery as Federal Housing Administration commissioner. ... Read full article
The seven largest national banks held less than 5% of loans that were delinquent at the end of the third quarter, the Office of the Comptroller of the Currency said Friday. ... Read full article
It was a good year for CIT’s Ellen Alemany and JPM’s Sandie O’Connor, but Arjuna Capital’s Natasha Lamb hopes next year will be better. Mary Mack gets a bigger role at Wells Fargo, and Zoe Cruz gets a new one at Ripple. Plus, is Harvey Weinstein really ... Read full article
Both in dollar and transaction volume, credit card use is growing at a faster pace than debit use. Much of the growth is coming from affluent consumers who value rewards like 2% cash back on purchases. ... Read full article
Former top commercial mortgage-backed securities strategist Trevor Murray accused the Swiss lender of illegally firing him in 2012 for blowing the whistle on attempts by traders to influence his research reports. ... Read full article
Companies like Visa and Mastercard make decisions about security in secrecy, without enough input from banks and merchants. ... Read full article
Bank allegedly “seriously breached” anti-money laundering rules; mortgage agencies will be permitted to retain $3 billion capital buffer. ... Read full article
Readers sound off on Mick Mulvaney’s plan to hire political appointees at the Consumer Financial Protection Bureau, question what’s behind the failure of Washington Federal Bank for Savings in Chicago, react to an argument that Equifax must endure, and ... Read full article
The famed investment bank is set to become the first major Wall Street bank to make markets in digital currencies such as bitcoin. ... Read full article
Banking regulatory agencies Thursday announced that they would raise the aggregate loan commitment threshold for syndicated loans to be included in the Shared National Credit program from $20 million to $100 million. ... Read full article
Moments after the Consumer Financial Protection Bureau said it would reopen its mortgage disclosure rule, the bureau announced that the effective date for the prepaid rule would similarly be scrapped. ... Read full article
The seven-member council, formed in the wake of the fake-accounts scandal, will advise Wells on social issues, such as diversity, environmental sustainability and the needs of underserved communities. ... Read full article
Seven trade associations — including those representing banks and credit unions — sent a joint letter to Congress outlining data security standards for entities that handle financial data. ... Read full article
The announcement Thursday that Treasury Secretary Steven Mnuchin and Federal Housing Finance Agency Director Mel Watt agreed to let Fannie Mae and Freddie Mac each build a $3 billion capital buffer avoided a potential crisis. ... Read full article
Earlier versions of the bill would have caused bigger changes in how Americans finance home purchases, higher education and retirement. Still, the final legislation will have important effects on borrowing and saving decisions. ... Read full article
After Wells Fargo and Fifth Third said that the looming tax cut will allow them to raise pay, four smaller banks followed suit. ... Read full article
The Consumer Financial Protection Bureau said Thursday that it plans to reopen its rulemaking for the Home Mortgage Disclosure Act and will not assess penalties against mortgage lenders for any errors in data collected in 2018. ... Read full article
Banks' online advice platforms are just the face of a deeper effort to restructure client data and adapt to a digital era. ... Read full article