Five of the biggest U.S. banks reported record profits on last week, boosted by their trading desks and a remarkably resilient American consumer amid persistent global economic uncertainty.
The Trump administration is taking additional steps to prevent people living in the U.S. illegally from using the nation’s banking system, cracking down on financial institutions that are lending money to them.
The Supreme Court on Monday said the Federal Reserve, unlike any other agency in Washington, has a measure of independence from the presidency and day-to-day politics. But the court didn’t define to what extent.
The Treasury Department moved Friday to enlist the nation’s banks more deeply in President Donald Trump’s immigration crackdown, including issuing fresh guidance that lets banks rapidly share information about suspected customers.
Federal financial crimes investigators want banks to help as part of the Trump administration’s latest measure to clamp down on immigration.
Treasury Secretary Scott Bessent winces at the allure of easy money – whether it’s lottery tickets, buy now, pay later loans or the promise of a crypto windfall.
President Donald Trump has made it clear he expects his choice for Federal Reserve chair to quickly cut interest rates once he takes office. Yet Americans shouldn’t pencil in lower borrowing costs for mortgages, auto loans or business loans just yet.
The nation’s biggest banks posted another quarter of strong profits, helped by a resilient economy and a flurry of dealmaking for their investment banking units.
The number of Federal Reserve policymakers willing to consider an interest rate hike this year rose between the January and March meetings, as higher gas prices stemming from the Iran war threatened to worsen inflation in the coming months.
JPMorgan Chase CEO Jamie Dimon warned in his annual shareholder letter that a “resilient” U.S. economy could face renewed inflation pressures if the war in Iran disrupts global energy markets.
Prospective homebuyers who have invested in certain cryptocurrencies will be able to use their holdings as collateral to fund their down payment on a home as part of a new mortgage offering.
One year after the Trump administration took control of the Consumer Financial Protection Bureau, the consumer watchdog has largely retreated from enforcement and regulatory work, changes that consumer advocates and Democrats now estimate have cost Americans at least $19 billion in financial relief.
President Donald Trump wants a one-year, 10 percent cap on credit card interest rates, a move that could save Americans tens of billions of dollars but drew immediate opposition from industry.
Last year’s odd outcomes raise a host of questions for the upcoming year: Will a growing economy eventually boost the sluggish job market? Or are last year’s weak job gains a sign of a stumbling economy that could get worse?
A majority of Federal Reserve policymakers expressed support in late October for further interest rate cuts.
Home Depot’s third-quarter was mixed with fewer violent storms reaching shore, more anxiety among U.S. consumers and a housing market that is in a deep funk.
While big corporate layoff announcements typically grab the most attention, it has been the unwillingness of many companies to add workers that has created a more painful job market than data would suggest.
President Donald Trump’s decision to stop producing the penny earlier this year is starting to have real implications for the nation’s commerce.
The number of U.S. homes that typically change hands as people relocate for work, retire or trade-up for more living space hasn’t been this low in nearly 30 years.
