by Ken Chase | May 3, 2024 | Banks, News
Regulators in Pennsylvania have reportedly closed Republic First Bank, in the first notable bank failure of 2024. The Federal Deposit Insurance Corporation (FDIC) made the announcement in a press release Friday. According to that release, The Pennsylvania Department...
by Ken Chase | Apr 16, 2024 | Banks, News
Several Republican Senators are attempting to block the Consumer Financial Protection Bureau’s new rule restricting credit card feed. In a press release, the Republican Senate minority detailed their resolution that seeks to overrule the CFPB’s new policy. The CFPB’s...
by Ken Chase | Apr 4, 2024 | Banks, News
A key inflation gauge cooled in February, down from January’s 3% to 2.9%, the Federal Reserve Bank of New York reported Monday. The decline in the bank’s Multivariate Core Trend Inflation index is seen by many as a signal that underlying inflation pressures may be...
by Ken Chase | Mar 29, 2024 | Banks, News
This week, the Federal Deposit Insurance Corporation issued draft guidance that would increase bank merger scrutiny. According to Reuters, the proposed guidance would be the first change to the FDIC’s merger principles in 16 years. The regulators’ board of directors...
by Ken Chase | Mar 13, 2024 | Banks, News
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...
by Ken Chase | Feb 23, 2024 | Banks, News
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,...
