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Diversified Financials Consumer Finance

  • The agency can represent itself in court cases except for those before the Supreme Court, putting President Donald Trump in a rare predicament: he cannot direct the Justice Department to withdraw the appeal. Instead, the Justice Department could only file a brief supporting the CFPB's opponent, mortgage company PHH Corp. "A single-headed independent agency...

  • WASHINGTON, March 17- The top Democrat on a key U.S. House of Representatives committee has demanded a chance to interview executives of Wells Fargo& Co, which has been embroiled in a scandal over fake accounts, because she said Republicans already had that opportunity in December. In a letter to the bank on Friday, House Financial Services ranking member Maxine...

  • The White House budget blueprint proposes ending the Advanced Research Projects Agency-Energy, or ARPA-e, program, which gives $300 million a year in grants for research in technologies aimed at reducing fossil-fuel consumption and improving energy efficiency. The White House would also eliminate a U.S. Energy Department clean vehicle loan program that...

  • The White House budget blueprint proposes ending the Advanced Research Projects Agency-Energy program, which gives $300 million a year in grants for research in a wide variety of technologies aimed at reducing fossil fuel consumption and improving energy efficiency. The White House would also eliminate a U.S. Energy Department clean vehicle loan program...

  • WASHINGTON, March 15- The U.S. Consumer Financial Protection Bureau said on Wednesday that it had ordered Nationstar Mortgage LLC to pay a $1.75 million civil penalty for failing to report accurate mortgage transaction data from 2012 through 2014.. The agency said the penalty for Nationstar, a unit of Nationstar Mortgage Holdings Inc, was the largest to date...

  • BRUSSELS, March 15- The European Commission will propose rules by the end of 2017 to cut retail fees imposed on cross-border payments made inside the EU with currencies other than the euro, according to a draft document of planned regulatory changes to consumer financial services. EU regulations already ensure equal pricing on transaction charges for...

  • Dan Schulman

    A new Gmail feature challenges Venmo's dominance in mobile.

  • SAO PAULO, March 14- Interest rates for rolling over credit card debt in Brazil may fall by up to 50 percent under new rules, an industry group head said on Tuesday, as banks respond to pressure from policymakers to ease the burden on domestic borrowers. President Michel Temer unveiled a plan in December to slash interest rates on credit card debt to alleviate...

  • President Donald Trump holds a National Economic Council listening session with the CEOs of small and community banks, in the Roosevelt Room at the White House on March 9, 2017 in Washington, D.C.

    President Donald Trump promised in a meeting with community bankers to strip away some Dodd-Frank financial regulations.

  • BEIJING/ HONG KONG, March 10- After a spending spree stretching from hotels to electronics distribution in 2016, Chinese conglomerate HNA Group says it is now investing in financial services, betting on asset managers and consumer finance for growth at home and overseas. The moves reflect a broader push by China into financial services globally as Beijing...

  • WASHINGTON, March 9- President Donald Trump promised in a meeting with community bankers on Thursday to strip away some Dodd-Frank financial regulations and ensure they can continue giving small businesses access to capital. Trump, joined by National Economic Council Director Gary Cohn and Treasury Secretary Steve Mnuchin, said community banks play a "...

  • WASHINGTON, March 9- President Donald Trump promised in a meeting with community bankers on Thursday to strip away some Dodd-Frank financial regulations and ensure they can continue giving small businesses access to capital. Trump, joined by National Economic Council Director Gary Cohn and Treasury Secretary Steve Mnuchin, said community banks play a "...

  • WASHINGTON, March 9- President Donald Trump promised in a meeting with community bankers on Thursday to strip away some Dodd-Frank financial regulations and ensure they can continue giving small businesses access to capital. Trump, joined by National Economic Council Director Gary Cohn and Treasury Secretary Steve Mnuchin, said community banks play a "...

  • SAO PAULO, March 8- Itaú Unibanco Holding SA will cut the interest rate it charges on rollover credit card loans as Brazil's No. 1 lender seeks to comply with new rules to reduce the cost of borrowing for cash-strapped consumers and companies in Latin America's largest economy. With the new rules, President Michel Temer's government wants banks to speed up...

  • Wells Fargo had previously estimated that up to 2.1 million customers may have had checking and credit-card accounts opened in their names without their permission over a period of several years. An ongoing analysis of customer data may also be turning up more affected customers, according to Wells' annual 10- K filing with the U.S. Securities and Exchange...

  • In documents posted to its website on Tuesday as part of its annual investor day, JPMorgan predicted its costs will rise 3.4 percent to $58 billion, from $56.1 billion this year. At the day-long confab, held at JPMorgan's headquarters in New York, top executives offer their visions for the bank's four major business lines and mingle with investors, analysts and...

  • Feb 28- JPMorgan Chase& Co, the biggest U.S. bank by assets, said it expected 2017 expenses to rise about 3.4 percent as it spends more on technology and in signing up new credit card accounts. Total adjusted expenses for 2017 are expected to be about $58 billion, up from $56.1 billion in 2016, according to slides posted on the company's website as part of the bank's...

  • Feb 28- JPMorgan Chase& Co said it expected 2017 expenses to rise about 3.4 percent as the lender spends more on technology and signing up new credit card accounts. Total adjusted expenses for 2017 are expected to be about $58 billion, up from $56.1 billion in 2016, according to slides posted on the company's website. Some investors expecting banks profits to...

  • LONDON, Feb 24- British banks approved the highest number of mortgages in a year last month and credit card lending partly revived after a lull in December, industry figures showed on Friday, contrasting with earlier signs of a loss of economic momentum. The British Bankers' Association said its members gave the green light to 44,657 mortgages in January, up from...

  • Singapore's United Overseas Bank (UOB) reported on Friday its earnings for the fourth quarter slipped 6.2 percent on-year to S$739 million.