Short seller Marc Cohodes, who has bet against the shares of six Canadian-based companies including Valeant Pharmaceuticals International Inc and Home Capital Group Inc, said on Wednesday that he is targeting yet another Canadian firm – Exchange Income Corp. More »
FILE PHOTO: New home construction is seen in San Diego, California, U.S. on August 21, 2015. REUTERS/Mike Blake/File Photo U.S. mortgage lenders are bracing for rockier times as consumers demand for home loans slows and competition in the mortgage industry int... More »
FILE PHOTO – The entry to the Home Capital Group’s headquarters is seen at an office tower in the financial district of Toronto, Ontario, Canada on May 1, 2017. Picture taken using a wide angle lens. REUTERS/Chris Helgren/File Photo Warren Buffett’s Berkshire ... More »
FILE PHOTO – Investor Warren Buffet arrives for the premiere of the film ”Wall Street: Money Never Sleeps” in New York, U.S. on September 20, 2010. REUTERS/Lucas Jackson/File Photo It took less than 24 hours for Warren Buffett, one of the world’s savviest deal... More »
A combination file photo shows international banks Morgan Stanley, Barclays, Goldman Sachs, JPMorgan, Credit Suisse, Citigroup and Bank of America Merrill Lynch from Reuters archive. REUTERS/File photos The 34 largest U.S. banks have all cleared the first stag... More »
Kyle Bass, Chief Investment Officer of Hayman Capital Management, speaks at the Milken Institute Global Conference in Beverly Hills, California, U.S., May 4, 2016. REUTERS/Lucy Nicholson Hayman Capital Management founder Kyle Bass on Thursday said he remains s... More »
The Morgan Stanley logo is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) in New York, U.S., April 19, 2017. REUTERS/Brendan McDermid Morgan Stanley is developing a new digital mortgage application tool in a bid to ... More »
FILE PHOTO: U.S. President Donald Trump arrives at Newark International airport in Newark, NJ U.S., to spend a weekend at Trump National Golf Club in Bedminister, New Jersey, June 9, 2017. REUTERS/Yuri Gripas/File Photo New York’s Public Theater on Monday defe... More »
President Donald Trump plans to nominate Brian Brooks, general counsel for Fannie Mae, as deputy secretary of the U.S. Treasury, Axios reported on Saturday, citing three sources it said had knowledge of the pick. More »
FILE PHOTO: An Amazon.com Inc driver stands next to an Amazon delivery truck in Los Angeles, California, U.S., May 21, 2016. REUTERS/Lucy Nicholson/File Photo Amazon.com Inc has stepped up lending to third-party sellers on its site who are looking to grow thei... More »
FILE PHOTO: A sign is displayed in the reception of the Sydney offices of Goldman Sachs in Australia, May 18, 2016. REUTERS/David Gray/File Photo U.S. savers who routinely scour personal finance sites for the best deposit rates are soon going to see an unusual... More »
Retirees play poker at a singles club in Sun City, Arizona, January 4, 2013. REUTERS/Lucy Nicholson Leaving your job soon and rolling over a 401(k) into an IRA? Thinking about buying an annuity? About to call your money manager and allocate this year’s Roth co... More »
A pair of elderly couples view the ocean and waves along the beach in La Jolla, California March 8, 2012. REUTERS/Mike Blake Thieves follow the money, and wealth accumulates as we age. But the aging brain is not always well-suited to financial decision-making ... More »
High rise private residential buildings are seen in Hong Kong, China May 21, 2017. Picture taken May 21, 2017. REUTERS/Bobby Yip Hong Kong’s latest attempt at cooling home prices in one of the world’s most expensive property markets is expected to send buyers ... More »
Signage for a Chipotle Mexican Grill is seen in Los Angeles, California, United States, April 25, 2016. REUTERS/Lucy Nicholson/File Photo Hackers used malware to steal customer payment data from most of Chipotle Mexican Grill Inc’s (CMG.N) restaurants over a s... More »
Federal Housing Finance Agency Director Mel Watt testifies before a Senate Banking Committee hearing on ‘The Status of the Housing Finance System After Nine Years of Conservatorship’ on Capitol Hill in Washington, U.S., May 11, 2017. REUTERS/Yuri Gripas The U.... More »
Two people walk towards the entrance of the Reserve Bank of New Zealand located in the New Zealand capital city of Wellington, March 22, 2016. REUTERS/Rebecca Howard/File Photo The Reserve Bank of New Zealand (RBNZ) defied market expectations it would adopt a ... More »
FILE PHOTO: Tourists enjoy a boat trip on the Seine river past the Eiffel Tower on a sunny spring day in Paris, France, May 8, 2016. REUTERS/Jacky Naegelen Spending half the year in the French countryside seems like a luxurious goal, but Deborah Jacobs, author... More »
Jay Clayton is sworn in to testify at a Senate Banking, Housing and Urban Affairs Committee hearing on his nomination of to be chairman of the Securities and Exchange Commission (SEC) on Capitol Hill in Washington, U.S. March 23, 2017. REUTERS/Jonathan Ernst W... More »
FILE PHOTO: A couple acts out a martial-arts move for a friend’s camera (not pictured) as they wait to welcome the first sunrise of 2015 on Sydney’s Bondi beach at dawn, January 1, 2015. REUTERS/Jason Reed What makes couples want to split after decades of marr... More »
A graduating student has “To Begin Anew” written on her cap as she attends a service before the 365th Commencement Exercises at Harvard University in Cambridge, Massachusetts, U.S. May 26, 2016. REUTERS/Brian Snyder Millennials face the greatest risk among all... More »
Post-it notes are displayed in the UBS ”fintech lab” at Canary Wharf in London, Britain, October 19, 2016. REUTERS/Hannah McKay Venture capital investments in financial services startups are showing a geographical split, with funding for so-called “fintech” co... More »
Auto portal Bitauto Holdings Ltd (BITA.N) has recently raised $1 billion from Tencent Holdings Ltd (0700.HK), Baidu Inc (BIDU.O) and JD.com Inc (JD.O) as it seeks to be China’s largest online car financing platform, its chief told Reuters on Thursday. More »
Warren Buffett, chairman and CEO of Berkshire Hathaway, speaks at the Fortune’s Most Powerful Women’s Summit in Washington October 13, 2015. REUTERS/Kevin Lamarque/File Photo Wells Fargo & Co’s (WFC.N) largest investor, Warren Buffett, has likely already voted... More »
Wealthfront Inc, the digital financial advice company, will begin letting some customers borrow against their investment accounts in its first foray into lending. More »
FILE PHOTO – People pass the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York City, May 20, 2015. REUTERS/Mike Segar/File Photo Big U.S. banks revealed more evidence of a slowdown in loan growth in their earnings reports on Thu... More »
Dental hygienist Randy Honeycutt’s $65,000 student loan balance has ballooned to more than $200,000 because of back interest and default fees, a cautionary tale about the perils of defaulting. More »
FILE PHOTO – A combination file photo shows international banks Morgan Stanley, Barclays, Goldman Sachs, JPMorgan, Credit Suisse, Citigroup and Bank of America Merrill Lynch from Reuters archive. REUTERS/File photos Large financial institutions across the worl... More »
A worker counts U.S. dollar bills, which are being exchanged for Philippine Pesos, inside a money changer in Manila April 1, 2013. REUTERS/Romeo Ranoco A Health Savings Account is supposed to stay with you for life, but if you do not use it, you could lose act... More »
File photo: A stands outside Fannie Mae headquarters in Washington February 21, 2014. REUTERS/Kevin Lamarque U.S. mortgage finance giants Fannie Mae (FNMA.PK) and Freddie Mac (FMCC.PK) may write down $21 billion of tax-related assets if there is a deep cut in ... More »
A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. on February 10, 2015. REUTERS/Jim Young/File Photo A federal judge on Thursday said Wells Fargo & Co (WFC.N) must face litigation seeking to hold it responsible for billions of doll... More »
FILE PHOTO: A woman walks at the Bund in front of the financial district of Pudong in Shanghai March 5, 2015. REUTERS/Aly Song As China’s banks prepare for a rigorous quarterly inspection of their books by the central bank, the ructions in money markets and an... More »
People participate in a yoga class during the 14th Annual Solstice in Times Square event in New York, U.S., June 20, 2016. REUTERS/Shannon Stapleton Callan Olive is about as adult as you can get for a 26-year-old. More »
The sign outside the Wells Fargo & Co. bank in downtown Denver April 13, 2016. REUTERS/Rick Wilking/File Photo Wells Fargo & Co will launch a new multi-channel ad campaign, its chief executive said on Tuesday, in a further sign of the bank’s efforts to regain ... More »
By Beth Pinsker NEW YORK Health Savings Accounts feature prominently in the new healthcare bill being considered by the U.S. House of Representative More »
FILE PHOTO: The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France on February 20, 2017. REUTERS/Pascal Rossignol/File Photo Only two years ago, an outage similar to the one that struck Amazon’s cloud services last month ... More »
Jeffrey Gundlach, Chief Executive Officer, DoubleLine Capital LP., speaks at the Sohn Investment Conference in New York City, U.S. May 4, 2016. REUTERS/Brendan McDermid Jeffrey Gundlach, chief executive officer of DoubleLine Capital, said on Wednesday he expec... More »
A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith Wells Fargo & Co, Royal Bank of Scotland Group Plc and Deutsche Bank AG have reached a $165 million class-action settlement over their underwriting for the now-bankrupt... More »
By Beth Pinsker NEW YORK Tax season in the United States is off to a slow start.The number of people filing their taxes with the Internal R More »
A Sadhu or a Hindu holy man pays the vendor through Paytm, a digital wallet company, after buying a book during the annual religious festival of Magh Mela in Allahabad, India, January 26, 2017. REUTERS/Jitendra Prakash Electronic payment firms got a big boost ... More »
An advertisement of Paytm, a digital wallet company, is seen placed at a fruit stall in Kolkata, India, January 26, 2017. Picture taken January 26, 2017. REUTERS/Rupak De Chowdhuri India’s has launched a slew of electronic systems to encourage its 1.2 billion ... More »
More U.S. consumers complained about imposter scams than identity theft for the first time in 2016, as fraudsters relied more on the phone and less on email to find victims, the Federal Trade Commission said on Friday. More »
A woman counts U.S. dollars at a money changer in Yangon May 23, 2013. REUTERS/Soe Zeya Tun People often wonder what happens if you do not file your tax returns. Josh Kornbluth lived it. More »
Signage for Square Inc. covers the front of the New York Stock Exchange celebrating the company’s IPO November 19, 2015. REUTERS/Lucas Jackson Payments processor Square Inc (SQ.N) reported better-than-expected quarterly results on Wednesday, helped by its effo... More »
Retirees play poker at a singles club in Sun City, Arizona, January 4, 2013. REUTERS/Lucy Nicholson Getting financial advice on complicated insurance products is, well, complicated. More »
A real estate sign advertising a new home for sale is pictured in Vienna, Virginia, U.S. October 20, 2014. REUTERS/Larry Downing/File Photo Refinancings’ share of U.S. mortgage applications shrank to its lowest level since late 2008 at the peak of the global c... More »
People walk past the Reserve Bank of India (RBI) building in New Delhi, India. Picture taken March 2, 2016. REUTERS/Anindito Mukherjee A proposal by India’s central bank to set up new private or state companies that would buy up bad debt from lenders was met w... More »
A stands outside Fannie Mae headquarters in Washington February 21, 2014. REUTERS/Kevin Lamarque Bayliss More »
FILE PHOTO: Offices in the financial district of Canary Wharf in London, Britain, January 19, 2017. REUTERS/Kevin Coombs/File Photo Rock-bottom interest rates hurt more big European banks in 2016 than in the previous year, but the worst could soon be over with... More »
A potential car buyer looks at vehicles on a lot in Silver Spring, Maryland, September 1, 2009. REUTERS/Jason Reed More Americans fell behind on their car loan payments in the fourth quarter, bringing auto delinquencies to their highest since the height of the... More »
A U.S. appeals court said on Thursday it will reconsider an October ruling that the Consumer Financial Protection Bureau’s structure is unconstitutional, virtually guaranteeing the battle over an agency borne of the financial crisis will reach the Supreme Cour... More »
Berkshire Hathaway Inc Vice Chairman Charles Munger speaks at the Daily Journal annual meeting in Los Angeles, U.S., February 15, 2017. REUTERS/Lucy Nicholson Charlie Munger, the billionaire vice chairman of Warren Buffett’s Berkshire Hathaway Inc (BRKa.N), sa... More »
Republicans lawmakers are starting to put in motion plans to destroy or defang the U.S. agency intended to protect individuals from financial fraud. More »
A mortgage specialist speaks with a client at a JPMorgan Chase foreclosure consultation event in New York, in this March 31, 2011 file photo. REUTERS/Shannon Stapleton/Files Tired of the on-again-off-again tease of a government rule that would make financial a... More »
A Bank Of America sign is pictured in the Manhattan borough of New York August 21, 2014. REUTERS/Carlo Allegri Bank of America Corp has opened three completely automated branches over the past month, where customers can use ATMs and have video conferences with... More »
A police officer keeps watch in front of the U.S. Federal Reserve in Washington October 12, 2016. REUTERS/Kevin Lamarque Philadelphia Federal Reserve Bank President Patrick Harker on Monday said he would be open to raising interest rates again at the U.S. cent... More »
A security guard walks in front of an image of the Federal Reserve following the two-day Federal Open Market Committee (FOMC) policy meeting in Washington, March 16, 2016. REUTERS/Kevin Lamarque/File Photo Philadelphia Federal Reserve Bank President Patrick Ha... More »
A resident pushes a stroller in the Clifton neighborhood of Staten Island in New York October 25, 2014. REUTERS/Darren Ornitz The Bank of Mom & Dad is busy these days. More »
FILE PHOTO — A student walks at the University of Texas campus in Austin, Texas, June 23, 2016. REUTERS/Jon Herskovitz/File Photo Surveys regularly find that Americans have no idea what a 529 college savings plan is, so a little tinkering under the hood is def... More »
Jan 29 (Reuters) – Highlights of the day for U.S. President Donald Trump’s administration on Sunday: More »
A Citigroup office is seen at Canary Wharf in London, Britain May 19, 2015. REUTERS/Suzanne Plunkett Citigroup said a focus on rich young Asians and new products has helped accelerate net new money growth at its Asia-Pacific consumer wealth business in 2016 to... More »
A sign outside the headquarters of JP Morgan Chase & Co in New York, September 19, 2013. REUTERS/Mike Segar Over the past five years, stock analysts have challenged JPMorgan Chase & Co (JPM.N) executives for keeping so many branches open as customers did more ... More »
Consumer credit lender International Personal Finance (IPF) said on Friday it would appeal against a decision by the Polish tax authority relating to the accounts of its Polish business, Provident Polska, for the 2008 financial year. More »
A lock icon, signifying an encrypted Internet connection, is seen on an Internet Explorer browser in a photo illustration in Paris April 15, 2014. REUTERS/Mal Langsdon New York state’s financial regulator on Wednesday issued a revised proposal for the nation’s... More »
A statue is pictured next to the logo of Germany’s Deutsche Bank in Frankfurt, Germany September 30, 2016. REUTERS/Kai Pfaffenbach/File Photo Deutsche Bank’s pursuit of success on Wall Street has come at a high price, a $7 billion plus penalty illustrating the... More »
A magnifying glass is held in front of a computer screen in this picture illustration taken in Berlin May 21, 2013. REUTERS/Pawel Kopczynski Britain’s intelligence agencies need to do more to help regulators to protect the financial services industry from cybe... More »
A Wells Fargo Bank is shown in Charlotte, North Carolina, U.S., September 26, 2016. REUTERS/Mike Blake Wells Fargo & Co (WFC.N) reported another decline in monthly consumer account openings, indicating that the bank is having trouble rebuilding its reputation ... More »
A woman shows her phone operating Ant Check, an Alibaba-linked platform, at a cafe in Beijing, China, April 11, 2016. REUTERS/Shirley Feng/File Photo Ma Yiqing, 24, is typical of China’s younger generation – he uses his credit card frequently and borrows from ... More »
A customer enters the Wells Fargo bank branch in Golden, Colorado October 11, 2013. REUTERS/Rick Wilking Legislation introduced by two Democratic lawmakers on Thursday would allow Wells Fargo & Co customers to go to court, instead of private arbitration, to re... More »
A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. on February 10, 2015. REUTERS/Jim Young/File Photo A leading U.S. bank regulator on Friday reversed course and positioned the agency to claw back pay of former executives at Wells F... More »
Logo of Swiss PostFinance bank is seen at a branch in Zurich, Switzerland August 22, 2016 REUTERS/Arnd Wiegmann Swiss bank PostFinance [PFAG.UL] will start charging private customers for holding deposits of more than 1 million Swiss francs ($1 million), it sai... More »
Katie McGinty, the Democratic nominee for Senate in Pennsylvania, speaks with a supporter at a rally, in Philadelphia, Pennsylvania, U.S., September 6, 2016. Picture taken September 6, 2016. REUTERS/Joseph Ax Senior Democrats said on Monday their chances of wi... More »
A Wells Fargo bank is seen in Del Mar, California January 17, 2012. REUTERS/Mike Blake Wells Fargo & Co (WFC.N) has fired hundreds of employees with Wall Street licenses for improper sales practices, three U.S. senators said on Thursday. More »
The logo of Swiss bank Credit Suisse is seen at its headquarters at the Paradeplatz in Zurich, Switzerland November 3, 2016. REUTERS/Arnd Wiegmann Credit Suisse reported an unexpected net profit for a second quarter in a row on Thursday though the surprise was... More »
Tourists use a mobile phone to take a photo of the sunset in the town of Sliema in Valletta’s Marsamxett Harbour October 26, 2011. REUTERS/Darrin Zammit Lupi The stereotype of millennials living in their parents’ basements is well worn by now, but what about t... More »
A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. on February 10, 2015. REUTERS/Jim Young/File Photo Wells Fargo & Co’s decision not to introduce new names onto its board or into the ranks of its senior management in the wake of a ... More »
Morrie Low, a 27-year-old Seattle cocktail server, has found an unlikely new source of pleasure: credit card companies. More »
Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem gestures during a European Union finance ministers meeting in Brussels, Belgium, July 12, 2016. REUTERS/Francois Lenoir A reform of global banking rules should focus on lenders’ internal models... More »
A labourer works at a construction site in Beijing’s central business district, China, July 15, 2016. REUTERS/Jason Lee Rising debt levels will worsen the credit profiles of China’s top 200 companies this year, requiring the country’s banks to raise as much as... More »
A graduating student of the City College of New York wears a message on his cap during the College’s commencement ceremony in the Harlem section of Manhattan, New York, U.S., June 3, 2016. REUTERS/Mike Segar (The opinions expressed here are those of the author... More »
The headquarters of Germany’s Deutsche Bank is photographed early evening in Frankfurt, Germany, January 26, 2016. REUTERS/Kai Pfaffenbach/File Photo Deutsche Bank (DBKGn.DE) will solve its problems without relying on help from Berlin, Germany’s flagship lende... More »
The sign outside the Wells Fargo & Co. bank in downtown Denver April 13, 2016. REUTERS/Rick Wilking The House of Representatives Financial Services committee plans to hold a hearing into Wells Fargo & Co next week after a scandal at the bank involving as many ... More »
A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, February 10, 2015. REUTERS/Jim Young Wells Fargo has long been the envy of the banking industry for its ability to sell multiple products to the same customer, but regulators on Thursday... More »
The Bank of America building is shown in Los Angeles, California October 29, 2014. REUTERS/Mike Blake/File Photo – RTSIJL2 Years of stubbornly low interest rates and expectations they will remain low for years to come have prompted U.S. banks to shift their ba... More »
Over the past two years, a growing number of U.S. banks has capped their directors’ earnings, but the ceilings are so high that they primarily serve to fend off potential shareholder litigation rather than control the pace of pay increases. More »
A woman walks past an advertisement promoting an apartment complex which is currently under construction in Yongin, South Korea, August 24, 2016. REUTERS/Kim Hong-Ji In Yongin, a satellite city south of Seoul, orange construction cranes are racing to build gle... More »
A consortium of banks holding the majority of U.S. consumer accounts plans to launch its instant, person-to-person payments brand Zelle in the first half of 2017, a spokesman said on Thursday. More »
The Wells Fargo bank branch is seen in Golden, Colorado in an October 11, 2013 file photo. REUTERS/Rick Wilking/Files A Wells Fargo & Co mortgage unit will pay $3.45 million to some customers because of a processing error that delayed the mailing of letters to... More »
A graduate wears a houndstooth ribbon on her graduation cap during the University of Alabama commencement ceremony at Coleman Coliseum in Tuscaloosa, Alabama, August 6, 2011, in honor of fellow students who were killed in a devastating April 27, 2011 tornado. ... More »
NEW YORK When Donna Frost Gordon’s son asked if he could stay in college for an extra year, it was for a good reason – but he still turned the family’s finances upside-down. After studying abroad and then finally declaring an accounting major at the State Univ... More »
NEW YORK Just as mortgage bankers were preparing for the end of a historic boom driven by low interest rates, borrowers have begun knocking at their doors again. In earnings reports last week, JPMorgan Chase & Co (JPM.N), Wells Fargo & Co (WFC.N) and Citigroup... More »
(This version of the July 11 story corrects age of Gerald Freisleben to 55 from 50 and spelling of his last name from Freiselben in last and third-from-last paragraphs) By Beth Pinsker NEW YORK After thrice refinancing the house she had bought in 2012, Nedalee... More »
BERLIN Wirecard AG is negotiating with representatives of Alipay, a unit of Chinese e-commerce giant Alibaba, about it taking a stake of up to 25 percent in the German banking software company, a newspaper reported on Sunday. Without citing its sources, the Bi... More »
DETROIT The connection between Quicken Loans Inc founder Dan Gilbert and billionaire magnate Warren Buffett became evident last month with news that Buffett was backing Gilbert’s surprise bid for Yahoo Inc. But the two men have another business connection that... More »
NEW YORK UBS AG urged a U.S. judge on Friday to reject claims that it should be held liable for $2 billion in losses that investors incurred on mortgage-backed securities issued before the collapse of the U.S. housing market. Lawyers for UBS made their closing... More »
NEW YORK Debt may be a drag for millennials, but apparently not as much as cooking their own dinner. A survey from Citizens Bank found that fewer than half (47 percent) of millennials, those in the 18-35 age group, who are college graduates, would be willing t... More »
NEW YORK Home prices are rising faster than wages in most of the United States, making homeownership increasingly difficult for average Americans in some of the most populous areas of the country, according to a report released on Thursday. The report found th... More »
WASHINGTON The Obama administration is expected to blame Iranian hackers as soon as Thursday for a coordinated campaign of cyber attacks in 2012 and 2013 on several U.S. banks and a New York dam, sources familiar with the matter have told Reuters. The Justice ... More »
NEW YORK While millennials have a lot to learn about managing money, a new survey shows a rosy picture of college students who are working, paying their bills on time without their parents’ help, avoiding debt and hungry for more knowledge. The survey released... More »
