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Thousands of U.S. merchants are weighing measures to freeze acceptance of Alipay and WeChat, two of the eight Chinese mobile payment apps that would be blocked if outgoing President Trump’s recent executive order goes into effect.
January 11
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The agency that supervises Fannie Mae and Freddie Mac has pushed for revising an agreement with the Treasury Department allowing the mortgage giants to retain their profits. A deal could be out of reach once Joe Biden takes office.
January 8
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After three years of savings, top U.S. banks could face an increased tax bill of as much as $11 billion a year if President-elect Joe Biden moves forward with corporate rate hikes he campaigned on.
January 8
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President-elect Joe Biden picked California official Isabel Casillas Guzman to lead the Small Business Administration, according to people familiar with the decision.
January 7 -
Sen. Sherrod Brown of Ohio signaled a change in direction for the Banking Committee under Democratic control, on the same day he called for President Trump's ouster after the U.S. Capitol riot.
January 7
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JPMorgan Chase's Jamie Dimon and Citi's Michael Corbat condemned the actions of Trump supporters who stormed the halls of Congress Wednesday.
January 6
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The Trump administration's cantankerous relationship with China has lasted the president's entire term, often shaking up the payments and financial services landscape. With a new executive order, Trump has announced bans on more than a half dozen software firms — including payment apps affiliated with Tencent and Alibaba/Ant Group.
January 5
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A panel appointed by the Consumer Financial Protection Bureau said Congress should consider authorizing the bureau — and not the Office of the Comptroller of the Currency — to issue federal charters to fintech companies.
January 5
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The CFPB issued two rulemakings in 2020 that the financial services industry and consumer advocates hoped would finally clarify key issues over how collectors contact debtors and deal with legacy debts. But both sides want the incoming Biden administration to make further changes.
January 5
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Inside Wells Fargo, managers say they intend to build a more commensurate presence on Wall Street, where the firm ranks a mere ninth in capital markets and deal advisory, by focusing on business lines and industries where it already has credibility.
January 4
