Banks
Bank of Japan expected to keep rates on hold this week — CNBC survey
A Japanese national flag flies while a pedestrian walks past the Bank of Japan (BOJ) headquarters in Tokyo, Japan, on Monday, Sept. 14, 2020. Kiyoshi Ota | Bloomberg | Getty Images The Bank of Japan (BOJ) is likely to keep its benchmark interest rate unchanged this week as it awaits greater clarity on domestic wages […]
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Bank of America, Goldman to donate undecided amounts to Trump’s inaugural committee
A man walks by the Bank of America headquarters in New York on July 18, 2023. Eduardo Munoz | View Press | Getty Images Bank of America, the second-largest U.S. lender, and investment bank Goldman Sachs plan to contribute to President-elect Donald Trump’s inaugural committees, but have yet to decide on the amount, spokespeople for […]
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Flushing Financial seeks to raise $70 million to shore up capital as it unloads underwater bonds
Flushing Bank in New York City. Google Earth Flushing Financial, a New York-based commercial real estate lender, is seeking to raise $70 million to shore up its capital, CNBC has learned. The bank’s CEO, John Buran, has told potential investors that he intends to sell low-yielding bonds and loans backed by commercial real estate, including […]
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CFPB announces rule limiting bank overdraft fees
Key Points The Consumer Financial Protection Bureau on Thursday announced the final version of a rule limiting banks’ ability to charge overdraft fees. It says the rule will save American consumers $5 billion annually. The CFPB said that its overdraft rule will take effect Oct. 1, 2025, though its ultimate fate is unclear. Source
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Australia’s central bank ends 2024 with a dovish pivot, jolting markets
People walk past the Reserve Bank of Australia building in the central business district of Sydney on July 4, 2017. Saeed Khan | AFP | Getty Images Australia’s central bank held interest rates steady at its last meeting of the year but softened its hawkish tone by noting the board is gaining “some confidence” that […]
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‘This was preventable’: Corporate world shudders at new risks after slaying of UnitedHealthcare CEO
Closed circuit screenshots of a person of interest in the UnitedHealthcare CEO killing. Source: NYPD UnitedHealthcare CEO Brian Thompson was fatally shot Wednesday doing something countless other American executives routinely do: Walking unaccompanied to an investor event held by his company. But Thompson’s death this week in the heart of corporate America’s capital has sent […]
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CFPB sues Comerica Bank, alleging it failed to administer federal benefits program
A Comerica Bank sign on a building in Walnut Creek, California, March 30, 2023. Smith Collection/gado | Archive Photos | Getty Images The Consumer Financial Protection Bureau filed a complaint Friday against Comerica Bank, accusing the regional bank of failing to administer a federal benefits program that uses prepaid debit cards. The lawsuit claims Comerica […]
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UniCredit’s Orcel could still sweeten his bid and take on a double M&A offensive
Andrea Orcel, chief executive officer of Unicredit, in London, UK, on Thursday, Nov. 23, 2023. Bloomberg | Bloomberg | Getty Images Divided between two takeover courtships, UniCredit’s Andrea Orcel still has room to sweeten his bid for Italy’s Banco BPM, analysts say, while political turmoil stalls a deal with Germany’s Commerzbank. Once a key architect […]
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American Airlines chooses Citi as sole credit card partner, drops Barclays
American Airlines planes sit parked at LaGuardia Airport in New York City, Nov. 27, 2024. Shannon Stapleton | Reuters American Airlines has completed a long-awaited credit card deal with Citigroup, dropping its other partner, Barclays. The airline said Thursday that it expects payments it receives from its co-branded credit card and other partners to grow 10% a year. In the […]
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Banks hit credit card users with higher rates in response to regulation that may never arrive
A customer uses a credit card to pay for items January 28, 2022 at a retail shop in New York City. Robert Nickelsberg | Getty Images Banks that issue credit cards used by millions of consumers raised interest rates and introduced new fees over the past year in response to an impending regulation that most […]
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