SHANGHAI (Reuters) – U.S. payments card company Mastercard Inc said on Friday it still plans to apply for a bankcard clearing license in China and was in “active discussions” to explore solutions. Mastercard “continues to make every effort to secure the requis... More »
NEW YORK (Reuters) – At the Springdale Ice Cream and Beverage factory in Cincinnati, workers were coming to the human resources department with money troubles, wanting cash advances on their pay. Some could not afford car repairs, which meant they could not ge... More »
NEW YORK (Reuters) – How U.S. schools calculate financial aid is so confusing that there is an entire industry devoted to unlocking its secrets with books, consultants and websites. Most parents are probably not aware that Stanford University in Palo Alto, Cal... More »
NEW YORK (Reuters) – The U.S. Internal Revenue Services is closed, thanks to the government shutdown, but your taxes are still due on April 15 and that is why individuals need to proceed through tax season as if nothing is amiss, experts say. The opening day o... More »
NEW YORK (Reuters) – Americans’ demand for credit declined over the previous year as expected, as mortgage interest rates rose, while the percentage of approved applications also ticked lower compared to a year ago, a survey from the New York Federal Reserve s... More »
NEW YORK (Reuters) – When companies try to tackle rising healthcare costs, shifting more of the burden to employees is increasingly the strategy of choice. But Activision Blizzard, an entertainment company that employs more than 6,000 people in the United Stat... More »
CHICAGO (Reuters) – Karyn Golden’s income was approaching $200,000 as she lived a carefree single existence at the peak of her career in Chicago, 20 years ago. She brokered real estate deals, served on boards and lunched with political leaders. She never imagi... More »
HELSINKI (Reuters) – Clients at some banks in Finland have faced problems with the use of their payment cards on Sunday, payment firm Nets said. “The problems affected card transactions and online banking at some banks in Finland. It was related to a network i... More »
NEW YORK (Reuters) – My kids got a great report from the dentist at their last checkup. From the receptionist? Not so much. When I went to make an appointment for their next cleaning in six months, she shocked me by saying I owed nearly $3,000 in charges datin... More »
WASHINGTON (Reuters) – The 35 largest U.S. banks are poised to put more money toward dividends, share buybacks and business investments, after clearing the first stage of an annual regulatory stress test on Thursday, showing they have enough capital to withsta... More »
(Reuters) – A federal judge on Thursday dismissed a lawsuit accusing Credit Suisse Group AG of withholding up to $300 million of compensation from U.S.-based brokers when it closed their private banking unit in 2015. U.S. District Judge William Orrick in San F... More »
(This May 25 story corrects first name of Capital Markets Authority CEO to Paul, not Peter, paragraph 29) By Maggie Fick and Omar Mohammed NAIROBI (Reuters) – Kenya built a reputation as a pioneer of financial inclusion through its early adoption of a mobile m... More »
NEW YORK (Reuters) – Study after study shows that money stress can be as bad for workplace productivity as back pain. The latest study, released by PwC on Tuesday, found that a quarter of U.S. workers said financial worries caused them health problems. Forty p... More »
BOSTON (Reuters) – Two days after billionaire investor William Ackman told clients that he was making money across all his funds again, he said on Thursday that his publicly traded Pershing Square Holdings Ltd portfolio was barely in the black so far this year... More »
NEW YORK (Reuters) – When optimism and realism about college savings collide, you get parents who are confident that they will meet their goals – as long as they reduce the amount of money they save, that is. According to the latest “How America Saves for Coll... More »
BEIJING (Reuters) – China’s property investment growth slowed in April while sales marked their biggest fall in six months as higher borrowing costs and increased curbs on buyers weighed on demand, backing views that a key driver of the economy is losing some ... More »
SYDNEY (Reuters) – Australia authorized its first banking license to an internet-only startup on Monday, a step the banking regulator said it hoped would improve competition in a sector dominated by four major lenders. The Australian Prudential Regulation Auth... More »
SYDNEY (Reuters) – Australia’s AMP Ltd (AMP.AX) denied allegations it had submitted a doctored report to a regulator and committed a criminal offense, saying an inquiry into the country’s financial sector had overstated the wealth manager’s involvement. The re... More »
(Reuters) – China’s Baidu Inc said it will sell a majority stake in its financial services business for about $1.9 billion to a consortium led by TPG Capital Management LP [TPG.UL] and Carlyle Group LP, as it seeks funding to take on established fintech firms ... More »
WASHINGTON (Reuters) – Emboldened by President Trump’s pledge to loosen laws introduced following the 2007-2009 global financial crisis, U.S. banks are pushing to scrap or revise more than a dozen other lesser-known rules they say are outdated, costly and hurt... More »
(Reuters) – Wells Fargo & Co will pay $1 billion to settle with U.S. regulators who say the bank wrongly layered insurance on hundreds of thousands of drivers and routinely hit homebuyers with excessive fees, officials said on Friday. The penalty was a record ... More »
NEW YORK (Reuters) – Women have a math problem when it comes to retirement: On average, they retire two years earlier than men but they live five years longer. The obvious solution is to make sure women save enough money to cover the longer spread and to work ... More »
(Reuters) – Bank of America (BAC.N) reported a 34 percent rise in first-quarter profit on Monday, topping Wall Street estimates, as the lender benefited from higher interest rates and growth in loans and deposits. Revenue rose at three of BofA’s four major bus... More »
NEW YORK (Reuters) – Goldman Sachs Group Inc bought Clarity Money, a personal finance startup, to bolster its Marcus online lending business, it said Sunday. Buying Clarity Money, a free app that helps consumers manage their personal finances, is expected to a... More »
WASHINGTON (Reuters) – The top U.S. watchdog for protecting consumers against financial abuse on Thursday blamed employees for “leaking” information about cases that he had dropped or was aiming to settle, according to an internal memo reviewed by Reuters. Mic... More »
NEW YORK (Reuters) – A cute Maltipoo puppy could never harm anyone, right? But looks can be deceiving. Dogs of any size or breed could inflict serious damage, leading to large insurance claims. Over the past 14 years, canine-related injuries – from bites to ac... More »
NEW YORK (Reuters) – Quirks in the new U.S. tax code are sowing doubts over how much big banks can boost dividends and stock buybacks this year, threatening to take the shine off what are likely to be strong quarterly profits. Changes in how companies can meas... More »
FILE PHOTO: Credit reporting company Equifax Inc. corporate offices are pictured in Atlanta, Georgia, U.S., September 8, 2017. REUTERS/Tami Chappell/File Photo NEW YORK/TORONTO (Reuters) – Equifax Inc (EFX.N) said it expects costs related to its massive 2017 d... More »
FILE PHOTO: Credit reporting company Equifax Inc. corporate offices are pictured in Atlanta, Georgia, U.S., September 8, 2017. REUTERS/Tami Chappell/File Photo (Reuters) – Equifax Inc (EFX.N) on Thursday reported quarterly results ahead of Wall Street forecast... More »
A “For Rent” sign is posted outside a residential home in Carlsbad, California, U.S., January 18, 2017. REUTERS/Mike Blake CHICAGO (Reuters) – (The opinions expressed here are those of the author, a columnist for Reuters.) People trying to escape soaring rents... More »
An elderly couple looks out at the ocean as they sit on a park bench in La Jolla, California November 13, 2013. REUTERS/Mike Blake (UNITED STATES – Tags: SOCIETY ENVIRONMENT) – GM1E9BE0E8L01 CHICAGO (Reuters) – The opinions expressed here are those of the auth... More »
A logo of Credit Suisse is pictured on a building in Geneva, Switzerland, November 8, 2017. REUTERS/Denis Balibouse (Reuters) – A new lawsuit accuses Credit Suisse Group AG of withholding up to $300 million of pay from U.S.-based brokers who refused or were un... More »
FILE PHOTO: White House budget director Mick Mulvaney holds a press briefing at the White House in Washington, DC, U.S., January 19, 2018. REUTERS/Kevin Lamarque/File Photo WASHINGTON (Reuters) – Mick Mulvaney, head of the Consumer Financial Protection Bureau,... More »
U.S. service member stands guard as an U.S. military transport plane lands at the Kandahar air base, Afghanistan January 23, 2018. REUTERS/Omar Sobhani – RC1A69651DE0 NEW YORK (Reuters) – No matter how U.S. tax policies evolve in the future, it is doubtful tha... More »
A realtor and bank-owned sign is displayed near a house for sale in Phoenix, Arizona, January 4, 2011. REUTERS/Joshua Lott CHICAGO (Reuters) – Foreclosure is a frightening word – especially if the person losing her home is a senior living on a modest, fixed in... More »
NEW YORK (Reuters) – E*Trade Financial Corp will acquire 1 million retail brokerage accounts with around $18 billion of clients’ assets from Capital One Financial, it said on Thursday. The discount brokerage will pay $170 million for the brokerage accounts, wh... More »
A generic picture of a some office folders or binders. OFFPO REUTERS/Catherine Benson NEW YORK (Reuters) – Got a dusty old binder with your will and estate plan? Even if you had your paperwork set up a few years ago, all of your documents are now out of date, ... More »
FILE PHOTO: A logo of Ant Financial is displayed at the Ant Financial event in Hong Kong, China November 1, 2016. REUTERS/Bobby Yip/File Photo BEIJING (Reuters) – China’s Ant Financial Services Group has received approval to issue consumer credit-backed securi... More »
Leandra English (L), current acting director of the Consumer Financial Protection Bureau (CFPB) meets with Senate Democratic Leader Chuck Schumer (D-NY) and Senator Elizabeth Warren (D-MA) (not pictured) in Capitol Hill, Washington, D.C., November 27, 2017. RE... More »
Graduating seniors line up to receive their diplomas during Commencement at Wellesley College in Wellesley, Massachusetts, U.S., May 26, 2017. REUTERS/Brian Snyder (The Jan. 10 story was refiled to clarify description of Sallie Mae as a student loan lender ins... More »
FILE PHOTO: Office of Management and Budget (OMB) Director Mick Mulvaney speaks to the media at the U.S. Consumer Financial Protection Bureau (CFPB), where he began work earlier in the day after being named acting director by U.S. President Donald Trump in Was... More »
People walk past a branch of the Royal Bank of Scotland in London, Britain December 1, 2017. REUTERS/Peter Nicholls (Reuters) – Royal Bank of Scotland Group Plc will pay $125 million to resolve claims that it made misrepresentations while selling mortgage-back... More »
A Monzo card in an undated photo. Courtesy Monzo/via Reuters LONDON (Reuters) – British app-based bank Monzo and others like it want to make money by allowing other firms access to their customers rather than lending to them, but this is an untested path to pr... More »
FILE PHOTO: Brokers trade at their computer terminals at a stock brokerage firm in Mumbai, India, February 17, 2016. REUTERS/Shailesh Andrade MUMBAI/HONG KONG (Reuters) – Funds raised in India through share sales reached the most in a decade this year thanks t... More »
A rose is covered with fresh snow on a cold winter day in the village of Lavacherie, Belgium December 3, 2017. REUTERS/Yves Herman NEW YORK (Reuters) – Acrimonious couples who were racing to get divorced by Dec. 31 or face dire tax consequences can breathe a s... More »
The top of the cap of a graduating student is pictured during their graduation ceremony at UC San Diego in San Diego, California, U.S. June 17, 2017. REUTERS/Mike Blake NEW YORK (Reuters) – Families with children in private or parochial school will be able to ... More »
FILE PHOTO – Graduates celebrate receiving a Masters in Business Administration from Columbia University during the year’s commencement ceremony in New York in this May 18, 2005 file photo. dreams of many college seniors. REUTERS/Chip East/Files CHICAGO (Reute... More »
FILE PHOTO: U.S. President Donald Trump delivers a speech on tax reform legislation at the White House in Washington, U.S., December 13, 2017. REUTERS/Carlos Barria (Reuters) – Republicans in the Senate and House of Representatives are expected to vote within ... More »
A man walks the campus of the City College of New York in the Harlem borough of New York, U.S., December 16, 2017. REUTERS/Eduardo Munoz NEW YORK (Reuters) – In the lead-up to the conference agreement for the U.S. Tax Cut & Jobs Act released on Friday, there w... More »
(Reuters) – Republicans in the U.S. Congress reached a deal on tax legislation on Wednesday, clearing the way for final votes next week on a package that, if approved, would be sent to President Donald Trump to sign into law. Formal language of the legislation... More »
U.S. outgoing Federal Reserve Chair Janet Yellen arrives for a news conference after a two-day Federal Open Market Committee (FOMC) meeting in Washington, U.S. December 13, 2017. REUTERS/Jonathan Ernst NEW YORK (Reuters) – When the U.S. Federal Reserve raises ... More »
FILE PHOTO – Graduate students rally against the proposed GOP tax reform bill at Union Square in the Manhattan borough of New York City, New York, U.S., November 29, 2017. REUTERS/Shannon Stapleton CHICAGO (Reuters) – Graduate student Mollie Marr is worried th... More »
FILE PHOTO – Jamie Dimon, Chairman and CEO of JPMorgan Chase & Co. speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S. on May 1, 2017. REUTERS/Mike Blake/File Photo NEW YORK (Reuters) – JPMorgan Chase & Co (JPM.N) expects to... More »
FILE PHOTO – New York State Comptroller Thomas DiNapoli speaks during an interview with Reuters in New York, October 18, 2010. REUTERS/Brendan McDermid (Reuters) – New York state Comptroller Thomas DiNapoli is asking Wells Fargo & Co (WFC.N) to disclose more i... More »
The Qudian app logo is seen on a smartphone in an illustration photo taken in Beijing, China December 1, 2017. REUTERS/Jason Lee/Illustration (Reuters) – U.S.-listed shares of Chinese financial firms slipped in premarket trade on Friday after Reuters reported ... More »
FILE PHOTO – Volunteers sort donated clothes for Caribbean refugees whose homes were destroyed by Hurricane Irma, at a convention centre in San Juan, Puerto Rico September 14, 2017. The hashtag on the sign reads “Puerto Rico embraces you.” REUTERS/Alvin Baez N... More »
(Reuters) – The U.S. Consumer Financial Protection Bureau (CFPB) has been thrown into disarray by a battle between the White House and Obama-era officials over who gets to run the federal watchdog on an interim basis after its director resigned. Outgoing direc... More »
File Photo – Office of Management and Budget Director Mick Mulvaney waits to testify before a Senate Budget Committee hearing on FY2018 Budget Proposals on Capitol Hill in Washington, U.S., May 25, 2017. REUTERS/Yuri Gripas WASHINGTON (Reuters) – A battle over... More »
Office of Management and Budget Director Mick Mulvaney attends the daily briefing at the White House in Washington, U.S., July 20, 2017. REUTERS/Carlos Barria WASHINGTON (Reuters) – A senior U.S. Consumer Financial Protection Bureau official filed suit late on... More »
Office of Management and Budget Director Mick Mulvaney attends the daily briefing at the White House in Washington, U.S., July 20, 2017. REUTERS/Carlos Barria WASHINGTON (Reuters) – The top lawyer for the U.S. Consumer Financial Protection Bureau (CFPB) has co... More »
File Photo – Office of Management and Budget Director Mick Mulvaney waits to testify before a Senate Budget Committee hearing on FY2018 Budget Proposals on Capitol Hill in Washington, U.S., May 25, 2017. REUTERS/Yuri Gripas WASHINGTON (Reuters) – The deputy di... More »
Office of Management and Budget Director Mick Mulvaney attends the daily briefing at the White House in Washington, U.S., July 20, 2017. REUTERS/Carlos Barria WEST PALM BEACH, Fla./WASHINGTON (Reuters) – A battle between the White House and Democrats over warr... More »
WASHINGTON (Reuters) – The White House may name an acting director of the Consumer Financial Protection Bureau, the Justice Department said in a memo on Saturday that endorsed an action by the Trump administration. “The President may designate an Acting Direct... More »
An aide adjusts a sign prior to a news conference announcing the passage of the “Tax Cuts and Jobs Act” at the U.S. Capitol in Washington, U.S., November 16, 2017. REUTERS/Aaron P. Bernstein NEW YORK (Reuters) – At a retirement community near Chicago, Jay Scha... More »
FILE PHOTO: A view of the exterior of the Citibank corporate headquarters in New York, New York, U.S. May 20, 2015. REUTERS/Mike Segar/File Photo WASHINGTON (Reuters) – The U.S. Consumer Financial Protection Bureau (CFPB) said on Tuesday it had ordered Citiban... More »
FILE PHOTO: A man stands in front of CITIC bank’s branch in Beijing, China, March 23, 2016.REUTERS/Kim Kyung-Hoon BEIJING (Reuters) – China Citic Bank Corp (601998.SS) and search engine giant Baidu Inc (BIDU.O) launched on Saturday a direct banking joint ventu... More »
NEW YORK/WASHINGTON (Reuters) – Wells Fargo & Co announced on Friday it fired its head of consumer lending, a move that people familiar with the matter said was because he disparaged a bank regulator to a fired employee. The abrupt departure of Franklin Codel,... More »
China's October property sales and new construction starts fell in October as the property market cooled from a two-year boom in the face of a tighter liquidity environment and a crackdown on riskier lending. More »
As soon as the House of Representatives' proposed tax reform bill had hit the news, divorce lawyer Malcolm Taub's phone started to buzz. More »
China will exempt banks' interest income from loans to small firms and rural households from value added tax, authorities said on Monday, in the latest step to address a long-standing issue of lack of financing to small firms. More »
Wells Fargo & Co is facing litigation over previously disclosed sales problems related to its auto lending and mortgage businesses, the bank disclosed in a regulatory filing on Friday. More »
The Republican tax plan unveiled on Thursday stirred anger at U.S. universities, which said its proposals to tax endowments of private institutions and repeal a deduction for student-loan interest payments would hurt institutions and students. More »
A leading U.S. regulator wants to make it easier for Wells Fargo to pay employees when they leave, loosening a restriction in place since a phony accounts scandal hit the bank last year, according to people familiar with the matter. More »
The largest U.S. veterans service organization on Thursday urged President Donald Trump to veto recent legislation allowing financial companies to block customers from banding together to sue, saying it would hurt members of the armed forces. More »
In its first offering of online bank accounts, JPMorgan Chase & Co on Monday launched a new smartphone app that it hopes will attract new depositors, many of whom are young and may live far from any of its branch offices. More »
European shares hit their highest in nearly four months on Friday, helped by gains in Bayer after an asset sale deal paving the way for the German drugmaker's $66 billion acquisition of Monsanto. More »
As Hurricane Irma lashed Orlando, Florida, last month, Amanda Leite needed a doctor for her 4-year-old daughter, who had a fever. More »
U.S. lawmakers are due to question the former head of Equifax Inc (EFX.N) at a Tuesday hearing that could shed light on how hackers accessed the personal data of more than 140 million consumers. More »
There is a widespread sense of fear hanging over consumers in the aftermath of the data breach at credit-monitoring firm Equifax revealed in early September that approximately 143 million consumers' personal and financial records were exposed. More »
Wells Fargo (WFC.N) Chief Executive Tim Sloan is due to testify before Congress on Oct. 3 as the bank deals with fallout from a sales scandal a year ago that continues to spark new revelations. More »
Morgan Stanley plans to bring its mortgage origination business in-house to improve customer service and generate more business, two people familiar with the matter told Reuters on Friday. More »
If you were not yet convinced that your personal data was at risk from cyber thieves, the latest breach of 143 million consumer records at credit bureau Equifax should scare you straight. More »
The U.S. consumer financial watchdog on Thursday attempted to repel a Trump-administration attack on former President Barack Obama's sweeping student loan reforms and defended itself against Republican attempts to weaken its powers. More »
Democrat Richard Cordray delivered a campaign-style stump speech at a sprawling Labor Day celebration on Monday, but the U.S. Consumer Financial Protection Bureau chief stopped short of saying whether he intends to run for governor of Ohio. More »
American Express Co is unveiling a new option that could tempt young, budget-conscious consumers into taking on credit card debt. More »
Commonwealth Bank of Australia (CBA.AX), the nation's biggest lender, has been hit with a public inquiry into its governance and culture - the second regulatory probe to be launched this month after it was accused of massive breaches of money-laundering rules. More »
Middle East investment companies are ramping up their lending to businesses, providing a lifeline for small and medium-sized firms struggling to secure finance from banks that tightened credit after a suffering rise in bad loans. More »
A group of U.S. senators from both parties on Wednesday turned up the heat on Wells Fargo Inc. over its latest scandal, in which hundreds of thousands of car-loan borrowers were charged each month without their knowledge for collision insurance, which many of ... More »
The Commonwealth Bank of Australia (CBA.AX) said on Monday a software "coding error" was responsible for the "vast majority" of the anti-money laundering law breaches it was accused of last week. More »
Borrowers unwittingly charged for auto insurance when they took out car loans from Wells Fargo & Co asked a U.S. court on Friday to force the bank to help them repair their credit scores. More »
Republican Senator Jerry Moran said on Thursday he is seeking additional information on recent revelations that Wells Fargo & Co (WFC.N) enrolled unknowing borrowers in costly auto insurance, putting more pressure on the bank whose reputation is already marred... More »
FILE PHOTO: Apoorva Mehta, CEO of Instacart speaks during 2016 TechCrunch Disrupt in San Francisco, California, U.S. September 14, 2016. The bloom is off seed funding, the business of providing money to brand-new startups, as investors take a more measured app... More »
French payments company Worldline has agreed to buy Swedish peer Digital River World Payments as merger activity in the payments sector picks up following this month’s takeover of Worldpay. More »
A Saudi woman shows the Careem app on her mobile phone in Riyadh, Saudi Arabia, January 2, 2017. Ride-hailing firm Careem, a Middle East rival to Uber Technologies Inc, has bought a minority stake in a three-month-old Egyptian start-up that connects commuters ... More »
FILE PHOTO: Flags fly over the Federal Reserve Headquarters on a windy day in Washington, U.S., May 26, 2017. The Federal Reserve’s plan for shrinking its massive balance sheet envisions a future with no holdings of mortgage bonds, a prospect that could presen... More »
The J.P.Morgan logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. U.S. banks are starting to see some long-awaited benefits of higher interest rates, with four of the largest lenders beating analysts’ quarterly p... More »
FILE PHOTO — People walk beneath a Citibank branch logo in the financial district of San Francisco, California July 17, 2009. Three of the six biggest U.S. banks kicked off the earnings season on Friday, reporting profits that topped Street estimates but faile... More »
A China yuan note is seen in this illustration photo May 31, 2017. Chinese lenders extended more credit than expected in June, as home lending stayed buoyant while a clampdown on shadow financing activities forced banks to shift more loans onto their books. More »
FILE PHOTO – Senator Tom Cotton (R-AR) walks after Senate Republicans unveiled their version of legislation that would replace Obamacare on Capitol Hill in Washington, U.S., June 22, 2017. Republicans lawmakers on Tuesday started trying to kill a brand-new U.S... More »
An undated handout image of the Pretirement app home screen, showing a countdown clock to retirement. If you knew that buying a daily $4 cup of coffee would delay your retirement and make you work exactly four months, 17 days and 9 hours longer, would that fin... More »
