Economy Apr 08 Fed eases limit on Wells Fargo to make more small business loans The Federal Reserve is lifting its lending restrictions on Wells Fargo after some of the bank's thousands of small business customers were shut out of a program that's supposed to throw them a financial lifeline.
Economy Apr 03 Government’s relief program for small businesses off to a slow start The federal government’s relief program for small businesses is off to a slow start, with few businesses able to apply and some big banks saying they’re not ready to process applications.
Economy Feb 25 JPMorgan 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 21 Wells 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 20 Morgan 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 24 Wildfires 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 16 Trump 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 30 What 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 10 CEOs 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 06 Financial 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."…