A swath of the nation’s largest lenders, including JPMorgan Chase, Wells Fargo and Goldman Sachs, reported quarterly and annual financial results on Wednesday that beat analysts’ expectations, and largely expressed a go-go attitude about what’s ahead for the economy after President-elect Donald J. Trump is inaugurated next week. JPMorgan, the nation’s biggest bank, said it […]
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The advertisement from Capital One had many of the same promises that other banks offer for high-yield savings accounts: There were no fees, no minimum deposits and the money would earn much more in interest than in traditional bank accounts. “What’s the catch? There is none,” the bank boasted. But, according to a lawsuit filed […]
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Financial markets have been choppy since the November election, and for good reason. With the next presidential administration promising sharp policy changes on a broad range of economic issues, there is plenty to be nervous about. The new proposals are dizzying. The president-elect says he wants to deport millions of immigrants; impose tariffs on all […]
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President-elect Donald J. Trump has moved beyond the team-of-rivals approach from his first term and chosen economic aides who will defend tariffs and tax cuts. President-elect Donald J. Trump put economic policy at the center of his campaign and, in assembling his economic team, has turned to a group of Wall Street executives, economists, lawyers […]
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In a striking sign of the Chinese economy’s stagnation, the central bank said on Friday that it had temporarily stopped buying government bonds. The central bank’s unexpected action is aimed at braking a recent shift by investors toward purchasing bonds while shunning riskier assets like stocks and real estate. That shift has driven China’s long-term […]
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Banks are on a winning streak, one that’s poised to intensify as President-elect Donald J. Trump takes office. Biden-appointed regulators at the Federal Reserve and other agencies presided over a relatively fruitless era of bank oversight. They tried to enact stricter rules for the nation’s biggest banks, hoping to create a stronger safety net for […]
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Federal Reserve officials cut interest rates as expected last month. But minutes from their December meeting suggest that the decision was a close call — and that there is no guarantee policymakers will lower rates again anytime soon. The minutes of the central bank’s Dec. 17-18 meeting, released on Wednesday, showed that most Fed officials […]
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The Consumer Financial Protection Bureau moved on Tuesday to ban medical debt from appearing on credit reports, potentially lifting the credit scores of about 15 million Americans and making it easier for them to obtain loans. The finalized new rule would effectively prohibit loan providers from using medical information while making lending decisions. It is […]
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Michael Barr will step down from his role as the Federal Reserve’s vice chair for supervision by Feb. 28, or sooner if President-elect Donald J. Trump appoints a successor, the Fed said on Monday. Mr. Barr will continue to serve on the central bank’s Board of Governors. “The Board does not intend to take up […]
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