Finance
Trump targets credit card rates. What’s at stake for Capital One and other banks
Capital One shares dropped more than 6% on Monday after President Donald Trump targeted a key way that our favorite credit card issuer makes money. The weakness in Capital One followed Trump’s call for a one-year, 10% cap on credit card rates to take effect on Jan. 20. In his Truth Social post late Friday […]
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Stocks making the biggest moves midday: Citigroup, Abercrombie, Vistra, Duolingo and more
Check out some of the companies making the biggest moves in midday trading. Bank stocks — The group fell broadly after President Donald Trump called for credit card rates to be capped at 10% for one year . Capital One slid 6%, Synchrony Financial tumbled 8% and Citigroup dropped 3%. Bank of America , Wells […]
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Republican Sen. Thom Tillis vows to block Trump’s Fed nominees following Powell probe
Key Points Sen. Thom Tillis, R-N.C., said he will block any Trump Fed nominees, including for chair, in light of revelations that the Justice Department is investigating Jerome Powell for potential perjury charges. That position substantially complicates the road to replacing Powell, whose term as chair expires in May. While Powell’s term as chair ends […]
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Yellen says Powell probe ‘extremely chilling’ for Fed independence, market should be concerned
Treasury Secretary Janet Yellen speaks with CNBC from the New York Federal Reserve on Sept. 26th, 2024. David A. Grogan | CNBC Former Federal Reserve Chair Janet Yellen on Monday condemned an investigation into her successor, Jerome Powell, saying it compromises the central bank’s independence. Yellen, who served as Treasury secretary after leaving the Fed, […]
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Trump’s credit card rate cap plan has unclear path, ‘devastating’ risks, bank insiders say
Key Points Trump proposed a one-year 10% cap on the interest rates that American credit card companies can charge customers. Shares of Citigroup, JPMorgan Chase, Wells Fargo, Bank of America, Visa, Mastercard, American Express and Capitol One fell in response. It’s unclear how the cap would be enforced, and bank industry insiders say it would […]
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DOJ probe into Fed chair Powell is ‘Maduro’ warning from Trump, analyst says
Key Points U.S. stock futures fell on Monday after the Federal Reserve revealed the DoJ had opened an investigation into its chair, Jerome Powell. The probe raises questions over the central bank’s independence from Donald Trump’s White House and concerns over the credibility of Powell’s successor. One analyst told CNBC that the probe was Trump […]
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Stocks making the biggest moves premarket: Capital One, Affirm, Walmart, Akamai, Sun Country & more
Check out the companies making the biggest moves before the bell: Bank stocks — The group fell broadly after President Donald Trump called for credit card rates to be capped at 10% for one year . Citigroup dropped 4%, while Capital One slid nearly 10%. Bank of America , Wells Fargo and JPMorgan Chase were […]
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Lawmakers are preparing to try again on major crypto bill. Why it matters and what happens next
Key Points Two Senate committees will hold hearings Thursday to work on their parts of a crypto market structure bill. The drafts will be merged to create one big bill, which will go to the Senate floor for a vote. The passage of a framework focused on digital assets is crucial for the crypto industry’s […]
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How BlackRock, world’s largest asset manager, is fine-tuning market portfolios for 2026
ETF Edge How BlackRock, world’s largest asset manager, is fine-tuning market portfolios for 2026 Published Sat, Jan 10 202610:07 AM EST Krysta Escobar WATCH LIVE Source
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