Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network
The Senate is edging forward legislation to roll back some of the restraints on banks that President Barack Obama and Democrats in Congress put in place eight years ago to prevent another financial crisis. The bill has overwhelming Republican support and enough Democratic backing that it's expected to garner the 60 votes necessary to clear the Senate, possibly later this week.
An internal report by a banking regulator projects how it might help JPMorgan and Citigroup, which owns Citibank. A bipartisan Senate bill quickly moving toward passage could allow two of the nation's biggest banks to reduce the amount of money they must keep on hand as a buffer against collapse by a collective $30 billion, an internal analysis by a top banking regulator has found.
President Donald Trump's personal attorney Michael Cohen complained to friends he had not been reimbursed for a six-figure payment to a porn star alleged to have had an affair with Trump, The Wall Street Journal reported Monday. Cohen previously said in a statement that he had facilitated a payment to Stephanie Clifford, better known as the porn star Stormy Daniels, but has denied that Trump and Clifford had an affair in 2006, as The Wall Street Journal previously reported.
U.S. Interior Secretary Ryan Zinke has changed a proposed overhaul of his department with a new organizational map that more closely follows state lines instead of the natural boundaries he initially proposed. U.S. Interior Secretary Ryan Zinke has changed a proposed overhaul of his department with a new organizational map that more closely follows state lines instead of the natural boundaries he initially proposed.
NAFCU President and CEO Dan Berger met Tuesday with House Financial Services Subcommittee Chairman Blaine Luetkemeyer, R-Mo., to discuss issues of importance to credit unions - including data security. NAFCU Vice President of Legislative Affairs Brad Thaler and Director of Political Affairs Chad Adams were also in the meeting.
As ABC News reports, Ron Wyden wrote to the Treasury Department last Friday, arguing that "It is imperative that Congress follow the money and conduct a thorough investigation into any potential money laundering or other illicit financial dealings between the president, his associates, and Russia." Senator Ron Wyden, D-Ore., is probably wasting his time scrutinizing President Trump's 2008 Palm Beach property sale to Russian oligarch Dmitry Rybolovlev.
Wells Fargo & Co received a cease-and-desist order Friday from the Federal Reserve that will limit asset growth to $1.95 trillion pending compliance, board oversight and risk management improvements. The threat to net income prompted a number of Monday downgrades, with Morgan Stanley and JPMorgan assigning Underweight ratings and Citigroup and Keefe, Bruyette & Woods downgrading to Neutral or Market Perform.
A pending merger between two banks with Columbus operations will require a separate sale of four branches in the city for the deal to be completed. MainSource Financial Group, based in Greensburg, is being purchased by First Financial Bancorp, based in Cincinnati, Ohio, the companies announced July 25. The transaction, valued at $1 billion, is expected to close in the first quarter of this year.
Three MainSource banking centers and one drive-through location in Columbus must be sold to a third party for the U.S. Department of Justice to approve the $1 billion merger of MainSource Financial Group and First Financial Bancorp, the companies have announced. About 25 MainSource employees will be affected by the decision, of which 20 work in Columbus, said Archie Brown Jr., chairman, president and CEO of Greensburg-based MainSource Bank.
Concerned about Bank of America's phase-out of a program that provided free checking, two Democratic members of Congress on Friday sought information about the banking giant's action. File photo taken in 2014 shows the corporate sign in front of a Bank of America branch office in Oakland, California.
Fans of President Donald Trump who use marijuana say Attorney General Jeff Sessions' move to tighten federal oversight of the drug is the first time they've felt let down by the man they helped elect. Missouri Gov. Eric Greitens acknowledges he was "unfaithful" in his marriage but denies allegations that he blackmailed the woman he had an extramarital affair with to stay quiet.
Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of ProShares UltraShort Lehman 20+ Yr by 77.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,358 shares of the exchange traded fund's stock after buying an additional 1,906 shares during the period.
Zuber, 59, currently serves as the E. A. Griswold Professor of Geophysics and the vice president for research at Massachusetts Institute of Technology , where she is responsible for research administration and policy. She chairs the National Science Board, having been appointed as a member by President Barack Obama in 2013.
Greene County has received less precipitation than normal this year, but when it has rained, it has been at the right times, officials say. According to a report by the University of Tennessee AgResearch & Education Center at Greeneville, the county has received 34.53 inches of rain or melted snowfall from Jan. 1 through Oct. 31. October saw slightly more rain than average for the month, accumulating 3.16 inches of rain compared to the average 2.08.
In this Sunday, Oct. 15, 2017, file photo, U.S. Federal Reserve Chair Janet Yellen speaks during the G30 International Banking Seminar, at Inter-American Development Bank headquarters in Washington. On Wednesday, Nov. 1, 2017, the Federal Reserve releases its latest monetary policy statement after a two-day meeting.
Certainly, Russia's wheat farmers, having enjoyed a record harvest, again, this year, are seeing their prayers answered for rain to improve conditions for winter sowings . "Beneficial rains are improving the plantings perspectives in Ukraine and precipitation should hit the south of Russia later," said Agritel.
Wells Fargo botched its fake account fiasco so badly that the bank is being hauled back for a congressional hearing almost exactly a year after the first one. Get ready for more fireworks when Senator Elizabeth Warren interrogates Wells Fargo about the bank's newest scandals during Tuesday's testimony.
First Financial Bankshares and Hudson City Bancorp are both finance companies, but which is the better business? We will contrast the two companies based on the strength of their dividends, valuation, institutional ownership, earnings, profitability, risk and analyst recommendations. This table compares First Financial Bankshares and Hudson City Bancorp's net margins, return on equity and return on assets.