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 expected to vote next week on the confirmation of Jelena McWilliams to become the chair of the Federal Deposit Insurance Corp. The nomination of McWilliams, the chief legal officer at Fifth Third Bancorp, was approved by the Senate Banking Committee in February by a vote of 24 to 1, with only Sen. Elizabeth Warren, D-Mass., opposing the confirmation. On Thursday, Senate Majority Leader Mitch McConnell filed a cloture motion that sets up debate by the full Senate on the nomination.
Wells Fargo said Friday it has agreed to pay $480 million to resolve a class-action lawsuit brought by shareholders who claim the bank misstated or failed to disclose details about its sales practices. The San Francisco-based bank said that the agreement is in principle, and must be approved by the court before it's finalized.
A sign is seen Friday, Aug. 11, 2017, at a Wells Fargo bank location in Philadelphia. Wells Fargo says it has agreed to pay $480 million to resolve a class-action lawsuit brought by shareholders who claim the bank misstated or failed to disclose details about its sales practices.
Former pastor Mark Harris is back to challenge Robert Pittenger for the ninth Congressional District. While their respective websites can tell you where the candidates stand on issues, it's more difficult to understand "who" is funding these campaigns and how money factors into the race.
Millennium Management LLC trimmed its holdings in shares of Engility by 63.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission . The firm owned 66,205 shares of the aerospace company's stock after selling 115,801 shares during the period.
Wells Fargo will pay US$1 billion to federal regulators to settle charges tied to misconduct at its mortgage and auto lending business, the latest punishment levied against the banking giant for widespread customer abuses. In a settlement announced Friday, Wells will pay US$500 million to the Office of the Comptroller of the Currency , its main national bank regulator, as well as a net US$500 million to the Consumer Financial Protection Bureau .
Barbara Bush didn't hesitate to tell people that her trademark pearl necklaces were fake. Americans liked that everything else about the snowy-haired first lady was real.
's stock had its "hold" rating reiterated by equities research analysts at Keefe, Bruyette & Woods in a report issued on Tuesday, October 3rd. They presently have a $11.50 price objective on the financial services provider's stock.
John Thain, who was also CEO of the New York Stock Exchange and President and Chief Operating Officer of Goldman Sachs GS, is currently a member of the board of directors of Uber Technologies. Deutsche Bank AG said on Wednesday, April 4, that it had proposed four new representatives of shareholders to sit on its supervisory board, including John Thain, in a reshuffle.
While President Donald Trump continues to hammer the U.S.-Mexico border and illegal immigration, a recent study by the Federal Reserve Bank of Dallas said immigrants, especially those from Mexico and Central America, power the vast Texas economy. Trump said Monday morning that he hopes Mexico "will stop people from coming through their country and into ours, at least until Congress changes our immigration laws!" Those Central Americans Trump referred to make up 8 percent of the state's foreign-born population, the study said.
The Federal Reserve raised its key interest rate and kept its forecast for three hikes in 2018 amid modest inflation Fed raises rates, keeps forecast for 3 hikes in 2018 The Federal Reserve raised its key interest rate and kept its forecast for three hikes in 2018 amid modest inflation Check out this story on USATODAY.com: https://usat.ly/2DL2wlt Jerome Powell listens to President Trump announce him as Trump's nominee for Chair of the Board of Governors of the Federal Reserve System, in the Rose Garden of the White House in Washington on Nov. 2, 2017. If confirmed, Jerome Powell will succeed Janet Yellen as chair of the US central bank.
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.