Banking news — interest rates, Fed policy, bank earnings, and the financial sector.
HSBC announces share buyback of up to $1 billion as third-quarter profit meets estimates
HSBC delivered third-quarter results that matched analyst expectations on Tuesday, pairing the earnings beat with an aggressive capital return program…
Bank of England decision on Thursday will be at 12:02 p.m. local time instead of 12 p.m., due to VE Day’s two minutes of silence
The Bank of England will announce its interest rate decision on Thursday at 12:02 p.m. local time instead of the standard 12 p.m., pushing the announc…
You’ve Found a Long-Lost CD. Can You Still Get Your Money?
# Forgotten CDs Leave Depositors With Lost Savings, But Recovery Remains Possible Abandoned certificates of deposit represent one of the most overloo…
Treasury says largest U.S. banks let politics influence who received banking services
The U.S. Treasury Department has concluded that major American banks allowed political considerations to influence decisions about which customers rec…
Rising Interest Rates Bite Some Wall Street Banks
JPMorgan Chase reported weaker-than-anticipated third-quarter earnings despite the banking sector's overall resilience, signaling that not all Wall St…
How Supreme Court justices are leaning in major 401(k) case over private funds and underperformance
The Supreme Court is examining a case centered on Intel's 401(k) plan that carries implications for how millions of American workers' retirement savin…
How Correspondent Banking Can Enable Sanctions Evasion
# How Correspondent Banking Infrastructure Enables Sanctions Evasion The correspondent banking system, which underpins global trade and capital flows…
Trump created a committee to dig into the Fed's Lisa Cook. What is it and what comes next?
Donald Trump's campaign to remove Lisa Cook from the Federal Reserve Board has moved into a formal phase with the creation of a dedicated committee to…
Trump Announces White House Inquiry Into Fed Governor Lisa Cook
President Trump announced a White House inquiry into Federal Reserve Governor Lisa Cook over unsubstantiated claims of mortgage fraud, with a schedule…
Trump appoints committee to investigate statements by the Fed's Lisa Cook
President Trump has appointed a committee to investigate statements made by Federal Reserve Governor Lisa Cook, escalating his confrontation with the …
Trump Administration Investigates Wells Fargo for Race-Based Lending
The Trump administration launched an investigation into Wells Fargo's lending practices, claiming the bank's efforts to boost Black homeownership cons…
Trading platform Webull's China ties create national security risk, congressional panel finds; stock drops 18%
Webull, a retail trading platform with roughly 15 million users, faces a damaging national security assessment from Congress. A congressional committe…
DOJ says it will not reopen criminal probe into former Fed Chair Powell
The Department of Justice declared it will not restart a criminal investigation into Jerome Powell, the former Federal Reserve chairman, closing the d…
Trump could target three Fed governors. Removing them may be harder than it looks
President Trump has signaled potential moves to remove Jerome Powell, Lisa Cook, and Michael Barr from the Federal Reserve Board, a strategy that woul…
US Sanctions A7, a Russia Firm That Helps Sidestep Economic Restrictions
The U.S. Treasury Department sanctioned A7, a Moscow-based financial services firm, for operating a sophisticated sanctions evasion network that moves…
Inside Man: How Chinese spies used lies, love and betrayal to target the Federal Reserve
# How Chinese Intelligence Targeted a Federal Reserve Advisor Through a Web of Deception A CNBC investigation has exposed a counterintelligence breac…
Australia says more hikes not off the table after raising rates to 15-year high
Australia's central bank signaled more interest rate increases remain possible after pushing its benchmark rate to 4.35 percent, the highest level sin…
Bessent ‘Inadvertently’ Failed to Report Holdings of JPMorgan Stock
Treasury Secretary Scott Bessent disclosed a financial reporting error involving JPMorgan (JPM) stock holdings, triggering an inspector general review…
Trump administration is examining whether a diesel export ban is feasible, Treasury Secretary says
The Trump administration is exploring the viability of restricting diesel exports, Treasury Secretary Janet Yellen said, responding to Republican pres…
Bessent says 'a large bank' will be sanctioned on Monday as part of Iran strategy
Treasury Secretary Scott Bessent signaled that the U.S. government will impose sanctions on a major financial institution as part of an intensified st…
U.A.E. To Review Banque Misr, Targeted by Iran Sanctions
The U.S. Treasury Department has targeted Banque Misr, Egypt's second-largest state-owned bank, with accusations that its UAE branches facilitated fin…
Treasury moves to sanction UAE branch of Egyptian bank over Iran ties
The U.S. Treasury Department moved to sanction the United Arab Emirates branch of Banque Misr, Egypt's largest state-owned bank, after investigators d…
Lisa Cook Hits Back at Trump’s Latest Attempt to Oust Her as Fed Governor
Lisa Cook, a Federal Reserve governor and economist, firmly rejected President Trump's allegations that she committed mortgage fraud, marking the late…
Goldman Sachs partner warns of 'huge danger' in letting AI replace bankers' reasoning skills
Goldman Sachs is rolling out artificial intelligence across its operations, yet one of the bank's senior technology executives is flagging a counterin…
Wells Fargo and Citigroup have room to buy a big bank. These 5 regionals fit the bill
Citigroup and Wells Fargo face regulatory constraints less stringent than they did years ago, creating an opening for both lenders to pursue acquisiti…