Banks

Pollak: AOC vs. Wells Fargo Is What Socialism Looks Like

Rep. Alexandria Ocasio-Cortez (D-NY), a self-declared proponent of “democratic socialism,” took pride Tuesday in questioning Wells Fargo CEO Timothy Sloan about the bank’s role in financing private projects that she considers objectionable, such as oil pipelines and prisons.

Rep. Alexandria Ocasio-Cortez (D-NY) listens to testimony by Michael Cohen, former attorney and fixer for President Donald Trump, before the House Oversight Committee on Capitol Hill February 27, 2019 in Washington, DC. Last year Cohen was sentenced to three years in prison and ordered to pay a $50,000 fine for …

Philadelphia Bans Cashless Stores, Restaurants

Philadelphia has reportedly become the first city in the United States to ban cashless stores and restaurants in an attempt to be more “inclusive” to Americans without bank accounts.

The Associated Press

Fifth Third Deal Flashes a Warning Sign for Banking

Fifth Third’s $4.7 billion deal to purchase Chicago’s MB Financial is a sign that large regional banks are feeling pressure to grow and believe the regulatory environment has turned positive for bank mergers and acquisitions.

The Associated Press

GOP Tax Plan Imposes a Big Tax on the Big Banks

While the Republican tax bill unveiled Thursday is undoubtedly business-friendly, there is one set of American companies that come in for a new and costly tax: the big banks.

The Associated Press

Royal Bank of Scotland Sets Aside Another £3bn For US Fines

LONDON (AP) — Taxpayer-owned Royal Bank of Scotland says it has set aside an additional $3.8 billion to cover fines and litigation costs related to its sale of bonds backed by U.S. subprime mortgages before the global financial crisis.

Royal Bank of Scotland