Banking and Lending

Fed Signals Rate Hikes Could Be Near End

Fed Signals Rate Hikes Could Be Near End

By Christopher Rugaber | The Associated Press | March 23, 2023 | Reprints | Unlock Link

The Federal Reserve extended its year-long fight against high inflation Wednesday by raising its key interest rate by a quarter-point despite concerns that higher borrowing rates could worsen the turmoil that has gripped the banking system.

Fed Criticized for Missing SVB Red Flags

Fed Criticized for Missing SVB Red Flags

By Christopher Rugaber and Fatima Hussein | The Associated Press | March 15, 2023 | Reprints | Unlock Link

The Federal Reserve is facing stinging criticism for missing what observers say were clear signs that Silicon Valley Bank was at high risk of collapsing into the second-largest bank failure in U.S. history.

Will SVB Crisis Lead to Interest Rate Cut?

Will SVB Crisis Lead to Interest Rate Cut?

By Stan Choe | The Associated Press | March 13, 2023 | Reprints | Unlock Link

With bank stocks cratering Monday as investors in regional banks like First Republic Bank and now-defunct Silicon Valley Bank worry about what lender may be next to topple, some investors are calling for the Fed to make cuts to interest rates soon to stanch the bleeding.

Biden Urges Confidence in Banking System After Two Collapses

Biden Urges Confidence in Banking System After Two Collapses

By Ken Sweet, Christopher Rugaber, Chris Megerian and Cathy Bussewitz | The Associated Press | March 13, 2023 | Reprints | Unlock Link

Despite message of reassurance from the White House, investors continued to dump shares in bank stocks Monday morning. Shares of First Republic Bank plunged more than 70 percent even after the bank said it was accessing emergency funding from the Federal Reserve.

CFPB Touts NSF Fee Wins vs. Banks

CFPB Touts NSF Fee Wins vs. Banks

By Diane McLaughlin | March 10, 2023 | Reprints | Unlock Link

Some banks that charged multiple nonsufficient funds fees on a single item plan to refund the fees to consumers, and most of these institutions supervised by the Consumer Financial Protection Bureau have decided to eliminate nonsufficient funds fees altogether, the CFPB said in a statement Wednesday.