Banking & Loans News

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Bank of America tops estimates on equity trading boost

Bank of America saw revenue from equity trading rise 23% to $2.02 billion and net interest income topped analysts' estimates as traders posted a strong fourth quarter. Dani Burger reports on Bloomberg Television.

Bloomberg

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Wells Fargo misses profit estimates as NII falls short

Wells Fargo fell short of analysts' profit estimates as net interest income fell short of expectations and severance costs drove up expenses in the fourth quarter.

Bloomberg

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What a 10% credit card interest rate cap could mean for borrowers

The Dow Jones fell nearly 400 points on Tuesday as traders reacted to President Trump's proposal to cap credit card interest rates at 10% for one year.

CBS America

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Global central bankers defend Fed's Powell after Trump threat

The chiefs of many of the world's major central banks issued a joint statement in support of Federal Reserve chair Jerome Powell on Tuesday, after the Trump administration threatened him with a criminal indictment.

Reuters

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Can Trump cap credit card rates for one year? Here's what to know.

President Trump says he wants to cap credit card interest rates at 10% for a year by Jan. 20. CBS News business analyst Jill Schlesinger breaks down if the president has the ability to cap rates and what it would mean for you.

CBS America

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JPMorgan sees surprise drop in investment-banking fees

JPMorgan's investment-banking fees unexpectedly fell in the fourth quarter, while the bank delivered results that otherwise mostly beat consensus. Dani Burger reports on Bloomberg Television.

Bloomberg

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Fed's Miran is looking for about 1.5 points of cuts in 2026

Federal Reserve Governor Stephen Miran said he is looking for about 150 basis points of interest rate cuts to boost the labor market. Miran added, "underlying inflation is running at 2.3%, that's within noise of our target."

Bloomberg

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FOMC's new voters bring a hawkish tilt to Fed decisions

The Federal Open Market Committee begins the year with a new rotation of a more hawkish collection of voters who may delay interest-rate cuts. Michael McKee has more on Bloomberg Television.

Bloomberg

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Big bank stocks come roaring back in 2025

2025 was a good year for the big banks. The six titans of U.S. banking are up by an average of more than 45% this year, while the stocks of the top four public alternative asset managers are collectively down.

Bloomberg

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Rich world's rate-cut momentum fading away

This year has seen a series of rate cuts across major central banks around the world. But with many policy-makers signaling they're near or at the end of that cycle, what does 2026 have in store for central bank watchers?

Bloomberg

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Bank of England: What to expect from today's decision

The Bank of England will likely deliver a pre-Christmas interest-rate cut on Thursday as concerns shift away from inflation and toward the UK's struggling economy and jobs market. Bloomberg's Ven Ram reports.

Bloomberg

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EU leaders to vote on Ukraine loan backed by frozen Russian assets

EU leaders will gather in the coming hours to vote on potentially using nearly 200 billion dollars in frozen Russian assets to support Ukraine. But it's a controversial and risky plan.

Al Jazeera

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UK inflation drop clears way for BOE rate cut

Santander Economist Victoria Clarke reacts to UK inflation data which slipped to its lowest level in eight months, a bigger than expected drop that clears the path to an interest-rate cut at the Bank of England on Thursday. She speaks on...

Bloomberg

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Banks slam OCC's initial blessing for crypto trust U.S. charters

The Office of the Comptroller of the Currency's decision to grant limited banking charters to cryptocurrency companies is likely to face legal challenges from banks and even state regulators.

Bloomberg

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Fed set up to keep cutting rates in 2026, Newedge's Dawson says

Newedge Wealth CIO Cameron Dawson says it's the ultimate "party on, Garth" type of market environment. Speaking during an interview with Matt Miller on "Bloomberg Open Interest," Dawson also says she expects the Federal Reserve to keep c...

Bloomberg

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Bank of France hit with legal complaint

The case opens a new chapter in ongoing efforts to clarify France’s role during the Rwanda genocide. A judicial investigation is expected to determine whether the central bank failed in its duty of oversight.

Africanews

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What does the Fed's rate cut mean for consumers?

The Federal Reserve on Wednesday cut interest rates by a quarter of a percentage point, the third rate cut this year. CBS News business analyst Jill Schlesinger has more.

CBS America

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Bankers readying U.S. IPOs ahead of 2026

Behind The scenes, the U.S. IPO market is heating up. With equity indexes near record highs and companies emerging from the shutdown backlog, bankers say they're seeing a surge in mandates and early signs that 2026 could be a breakout year.

Bloomberg

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Go behind the scenes to see how VISA thwarts scams as fraud increases

There have been nearly 1.5 million reports of fraud so far this year, which is up from 1.3 million for the same period last year. Ash-har Quraishi got a behind-the-scenes look at VISA's high-tech cyber fusion center in Virginia to see ho...

CBS America

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Fed speak has spooked markets, Roland says

Emily Roland of Manulife John Hancock says talk of the Federal Reserve loosening monetary policy might have spooked the markets. She also comments on the collapse of Bitcoin and crypto on "Bloomberg Open Interest."

Bloomberg

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Proposal to lower credit card fees might limit consumers' card options

A proposed settlement between credit card giants Visa and Mastercard and merchants could result in lower prices, but it could also mean fewer payment options for consumers. (Scripps News)

Scripps News

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UBS spoke to Bessent about moving Headquarters to U.S.

UBS Group AG Chairman Colm Kelleher held talks with US Treasury Secretary Scott Bessent about potentially moving the bank's headquarters to the US amid uncertainty over Switzerland's upcoming capital reforms, according to the Financial T...

Bloomberg

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Government shutdown may impact Fed decision on interest rates cuts

The government shutdown impacted key economic data reports that the Federal Reserve uses to determine a potential interest rate cut. CBS MoneyWatch correspondent Kelly O'Grady reports.

CBS America

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Visa, Mastercard deal may change card fees and rejections

A new settlement between Visa, Mastercard, and retailers will gradually cut interchange fees — the charges merchants pay banks to process credit cards. CBS News business contributor Javier David explains what it could mean for consumers.

CBS America

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Libya's cash crisis: Fake bills prompt shift to electronic payments

Libya is grappling with a serious currency crisis after counterfeit banknotes flooded the market last year. The central bank has recalled the 50-dinar and 20-dinar notes citing concerns over fake bills entering circulation.It wants peopl...

Al Jazeera

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Americans struggling to save for retirement

Bankrate found 58% of workers feel behind on retirement savings.

Scripps News

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ECB keeps interest rate at 2% as growth holds up against trade tension

With inflation subdued and growth steady, the ECB maintained rates at their lowest level in more than two years, matching market expectations.

Euronews

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Bank of Canada cuts key interest rate to 2.25%

The Bank of Canada made a 25-basis-point cut to its key interest rate while governor Tiff Macklem suggested rates will hold where they are as long as inflation stays in the target range of two per cent.

CBC News

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Why the Fed cuts rates again despite stubborn inflation

The Federal Reserve on Wednesday cut interest rates for the second consecutive time despite inflation remaining above its target rate.

CBS America

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U.S. Federal Reserve expected to cut interest rates

The U.S. Central Bank, the Federal Reserve, is meeting this week to discuss the economy and whether to cut interest rates. The Fed dropped the rate by a quarter of a percent last month, but President Trump wants deeper and quicker cuts t...

Al Jazeera