Fannie Mae and Freddie Mac investors won a victory in their long battle to reap benefits from their stakes in the mortgage giants with a court ruling letting them pursue claims that the U.S. sweep of the companies’ earnings is illegal.
The six biggest banks are expected to issue disappointing forecasts as rates continue to decline; technology stock mutual funds scored with payment plays.
A legislative measure would have made the Golden State the first in the nation where aggrieved borrowers could sue their servicers. The bill was delayed until 2020 after banks and other financial companies expressed opposition.
The Trump administration raised the goal posts for ending the conservatorships of Fannie Mae and Freddie Mac, but how officials get there is still highly uncertain.
Next up for BB&T-SunTrust: deciding where to unload branches; how the Trump administration would reform Fannie Mae, Freddie Mac; why the CFPB's payday rule is in the hands of a Texas judge; and more from this week's most-read stories.
The event is the bureau's second in a series on consumer protection policy. The first dealt with the agency's authority to penalize firms for unfair, deceptive or abusive acts and practices.
Treasury Secretary Steven Mnuchin has told large U.S. financial institutions including Goldman Sachs and American Express they should do more to help black- and women-owned community banks win federal contracts.
Facebook plans to double its headcount in New York City, an expansion that could set up the social media giant for a clash with some of the biggest firms in finance.
