Sens. Bill Hagerty (R-TN) and Angela Alsobrooks (D-MD) introduced legislation that would seek to empower Main Street banks and credit unions by boosting their deposit insurance coverage for noninterest-bearing transaction accounts.
The recent sanctions imposed by the Trump administration on two banks in Mexico and a brokerage firm sparked widespread controversy and speculations about the future of financial institutions in a country where even the White House has previously accused top Mexican government officials of having an intolerable relationship with drug cartels.
Mexico’s government is rushing to the aid of two Mexican-based banks and a brokerage firm that the U.S. Department of the Treasury accused of working with various cartels to launder money or helping them move money to China to pay for fentanyl precursors. Mexican officials questioned the validity of the Treasury Department’s sanctions, stating that the claims lack sufficient evidence to support the allegations.
Chinese social media users responded with outrage to a viral video that showed an elderly woman dying at a bank after she was forced to leave the hospital and make a withdrawal to pay for her medical expenses.
The Treasury Secretary set a new direction for the Financial Stability Oversight Council, emphasizing growth rather than social and climate change.
CBS News reported on Thursday that the Trump administration is considering further restrictions on Russian oil, gas, and banking, even as the European Union (EU) prepares to remove several ultra-rich Russian oligarchs from its sanctions list under pressure from Hungary and Slovakia.
Sens. Roger Marshall (R-KS) and Dick Durbin (D-IL) are scheming to slip their credit card legislation into a defense bill during the lame-duck session.
Major U.S. banks including Chase, Bank of America, and Wells Fargo collectively closed 33 locations during a two-week period in July, a Daily Mail report revealed.
JPMorgan Chase bank has apparently rolled back a policy that led to the de-banking of several conservatives and nonprofit groups.
At least 13 financial institutions are being investigated for colluding with the federal government to spy on Trump supporters.
A court in Ho Chi Minh City rushed on Thursday to sentence real estate tycoon Truong My Lan, one of the richest women in the world, to death for her part in a $12.5 billion fraud case.
Biden officials have reportedly admitted what terms were used when investigators wanted banks to surveil financial transactions after Jan. 6.
The Treasury Department asked banks to snoop through customers’ transactions for signs of “extremism,” such as purchases of “small arms” or Bibles, according to Jordan.
Chinese officials signaled that a bailout for the property sector could be imminent as banks face a $4 trillion mountain of bad loans.
PNC Bank is preparing to shut down multiple branches across the nation in February.
Fewer banks say they are making it tougher for businesses to borrow, a survey released Monday by the Federal Reserve showed. Bank lending is the lifeblood of the American economy and lending standards are one of the main arteries through
The Hong Kong Stock Exchange posted a notice on Thursday that trading had been suspended for shares of China Evergrande Group.
Nigel Farage accused a UK banking regulator of a “whitewash” after it claimed there was no evidence of political debanking in the country.
The NatWest banking group has announced that Sir Howard Davies will be replaced in the wake of the Nigel Farage debanking scandal.
On Monday’s broadcast of the Fox Business Network’s “Mornings with Maria,” Rep. Kat Cammack (R-FL) commented on investigations by House Republicans into banks turning over the private information of Americans to the FBI without legal process by contrasting it to
Nigel Farage has been asked to provide evidence to the banking regulator as it expands its investigation into politically-inspired debanking.
A watchdog has demanded that UK banks reveal the number of accounts closed over politics in the wake of the Nigel Farage debanking scandal.
Big banks in the UK have shut down nearly a million accounts over the past year, a paper revealed amid the Nigel Farage debanking scandal.
Banker staff at Monzo, which previously refused to open an account for Chancellor Jeremy Hunt, branded Conservatives as “evil” and “ugly”.
Nigel Farage had his bank account shut over his ties to Donald Trump and for views that Coutts bank felt did “not align with our values”.
The move to debank people could be part of a wider effort to usher in the “tyranny” of a cashless society, Nigel Farage has warned.
During an interview with MSNBC aired on Wednesday’s broadcast of “The 11th Hour,” Treasury Secretary Janet Yellen responded to a question on commercial real estate issues endangering banks in a way that impacts consumers by stating that the issue is
House Judiciary Committee leaders sent letters to several financial institutions on Monday, demanding to know what degree they worked with the FBI to collect Americans’ private data.
On Wednesday’s broadcast of CNBC’s “Squawk Box,” Treasury Secretary Janet Yellen stated that some banks are seeing earnings pressure and this provides incentive for bank consolidation, “and it wouldn’t surprise me to see some of that going forward.” Yellen said,
On Tuesday’s broadcast of “CNN This Morning,” Minneapolis Fed President Neel Kashkari stated that we are repeating what we did in 2008 where we made big banks bigger “to preserve near-term financial stability, knowing that it made the problem worse
On Monday’s broadcast of CNBC’s “Squawk Box,” Minneapolis Fed President Neel Kashkari stated that “we keep getting surprised about how high inflation has been, how entrenched it has been, how slow it is coming down,” “services inflation seems pretty darn entrenched”
On Friday’s broadcast of CNBC’s “Closing Bell: Overtime,” Acting Comptroller of the Currency Michael Hsu stated that while the banking system “is sound and resilient” and the money that people have in banks is safe, over the medium and long
On Thursday’s broadcast of “CNN This Morning,” Democratic California U.S. Senate candidate Rep. Katie Porter (D-CA) stated that if she was meeting with JPMorgan Chase CEO Jamie Dimon, Citi CEO Jane Fraser, and Bank of America CEO Brian Moynihan —
During an interview with Bloomberg on Friday, Treasury Secretary Janet Yellen responded to a question on whether she has confidence that no other regional or small banks will fail by stating that she doesn’t want to get into “the situations
On Friday’s broadcast of MSNBC’s “Ana Cabrera Reports,” White House Senior Adviser Mitch Landrieu stated that the “turmoil” in banking has “been managed fairly well so far.” Landrieu said, “Well, there’s no question that the secretary of Treasury in our
A Monday court ruling accused an ex-Barclays executive of sexually abusing a woman during a visit to Jeffrey Epstein’s Virgin Islands home after reportedly getting permission.
The latest crash developed within hours of Fed chair Jerome Powell saying the period of “severe stress” had come to an end.
On Tuesday’s edition of Bloomberg’s “Sound On” podcast, Rep. Brad Sherman (D-CA) stated that, despite assurances from President Joe Biden and the administration that the banking system is sound, “We don’t know” that because we haven’t assessed the risk of
On Tuesday’s broadcast of the Fox News Channel’s “America Reports,” Fox News Contributor Robert Wolf, who also worked on President Obama’s Economic Recovery Advisory Board and Council for Jobs and Competitiveness and was Chairman for UBS Americas and President for UBS Investment
On Tuesday’s broadcast of MSNBC’s “Andrea Mitchell Reports,” Rep. Brendan Boyle (D-PA) stated that there is a “banking crisis” that we still do not know the true extent of. While discussing a letter from Democrats in Congress urging the Federal
