Powell: Growing Fed Confidence for Rate Cuts

Powell: Growing Fed Confidence for Rate Cuts

On Thursday, Federal Reserve Chairman Jerome Powell testified before the Senate Banking Committee. During that testimony, he suggested that the central bank is becoming more confident that the nation’s inflation rate is moving in the right direction. If that trend...
Capital One Announces $35B Megamerger with Discover

Capital One Announces $35B Megamerger with Discover

Capital One recently confirmed its intent to purchase Discover Financial for $35.3 billion. Regulators will still need to approve the megamerger before the sale can proceed. If that approval happens, Capital One would become the nation’s largest credit card issuer,...
Banking Groups Sue to Block New CRA Rules

Banking Groups Sue to Block New CRA Rules

A group of industry organizations have filed suit to block regulators’ new Community Reinvestment Act rules. According to the plaintiffs in the case, regulators are exceeding their authority with the proposed rules. Additionally, the plaintiffs argue that the new CRA...
NYC Sues FDIC for Overdue Signature Bank Taxes

NYC Sues FDIC for Overdue Signature Bank Taxes

New York City is suing the Federal Deposit Insurance Corporation (FDIC) over $44 million in overdue taxes Signature Bank taxes. According to Bloomberg, the suit was filed in a Manhattan federal court on Monday. The suit targets the FDIC in its role as the failed...