Ken’s Recent Stories
Economy Feb 25JPMorgan cuts back lending to coal companies and Arctic drillers
The bank will only lend to power companies to build coal power plants when the design includes carbon capture technology and will not finance new projects involving oil and gas development in the Arctic.
Economy Feb 21Wells Fargo to pay $3 billion to resolve disputes over unauthorized accounts
The $3 billion will settle criminal and civil investigations into a long-running practice whereby company employees opened millions of unauthorized bank accounts in order to meet unrealistic sales goals.
Economy Feb 20Morgan Stanley to buy E-Trade for $13 billion
The deal is the latest chapter in Morgan Stanley's transformation from the scrappy, deal-doing, stock-trading investment bank to a more well-rounded financial firm.
Economy Dec 24Wildfires cause turmoil in California property insurance market
Thousands of homeowners have lost their insurance policies in the last few years as insurers pull out of areas that are at risk of fire damage or stop insuring homes altogether.
Nation Aug 16Trump appoints student loan industry executive to be top loan watchdog
It's a job designed to protect student loan borrowers from poor practices in the student loan industry and one of the few positions explicitly named in the Dodd-Frank Act, the law passed after the 2008 financial crisis that created the…
Nation Jul 30What you need to know about the Capital One data breach
The alleged hacker, Paige A. Thompson, obtained Social Security and bank account numbers in some instances, as well other information such as names, birthdates, credit scores and self-reported income, the bank said Monday.
Politics Apr 10CEOs of big banks defend more resilient financial system since crash
The heads of seven of the largest banks in the U.S. fielded sometimes contentious questions from a House committee Wednesday, some dealing with current risks to the financial system and other focused on more politically charged topics.
Economy Feb 06Financial watchdog to gut its payday lending rules
Consumer Financial Protection Bureau is getting rid of a requirement that lenders make sure borrowers could afford to repay a payday loan without being stuck in a cycle of debt, a standard known as "ability to repay."…
Education Aug 27Nation’s top student loan official resigns
The government's top official overseeing the $1.5 trillion student loan market resigned in protest today, citing what he says is the White House's open hostility toward protecting the nation's millions of student loan borrowers.
Politics Jul 19Trump’s pick to run consumer watchdog faces skeptical Senate
Kathy Kraninger, 43, was a relatively unknown mid-level bureaucrat working inside the Office of Management and Budget before being nominated by President Trump last month to lead the Consumer Financial Protection Bureau.