In|Vest 2018 Direct

Warren, Wyden, Whitehouse, Welch and Schatz say the administration's memo contradicts public statements, and they want more answers on whether the administration is working with top U.S. banks to funnel money out of the South American nation.

White House National Economic Council Director Kevin Hassett said Friday that the administration expects banks to voluntarily issue "Trump cards" with 10% rate caps, a move that could quell Congress' moves to impose a cap through legislation — but that's no guarantee.

"We're coming into your market," PNC Chief Executive Bill Demchack said Friday. "If you're not coming into our market to come fight us, we're coming to your market to come fight you, and we're going to get some percentage of your market."

During the fourth quarter, the Buffalo, New York-based bank reported its lowest ratio of nonperforming loans to total loans since 2007.

Merchant groups are not taking a position on President Donald Trump's threats to cap interest rates, but they are bullish on the president's endorsement of the Credit Card Competition Act.

Federal Reserve Vice Chair for Supervision Michelle Bowman warned that labor market conditions could weaken further and said the central bank should avoid signaling a pause in monetary policy.

Data collected by the Conference of State Bank Supervisors demonstrates a huge disparity in compliance costs between large and small banks. Policymakers in Washington who claim to support community banks must act to reduce regulatory burden.

Community Financial in Syracuse has agreed to purchase a small bank that's built its business model around end-of-life planning.

Bilt's new card caps interest rates at 10% for one year and Affirm is adding BNPL for rent as analysts predict the political environment will benefit fintechs.

Laurel is the CEO of Candidly. Taylor's vision is to accelerate a debt-free future for all by digitizing the experience of debt management and to embed benefits that address student debt as a new normal within the workplace. Before founding Candidly, Laurel held leadership positions at Google. Laurel has successfully paid off $200,000 of her own student loan debt, and co-authored The Accidental Consequences of Student Debt, an academic research whitepaper examining how healthcare workers are disproportionately affected by student debt, for the Journal of the American College of Radiology (JACR).