Corporate taxes

The new law relies partly on U.S. companies paying higher taxes to raise money for climate change and health care initiatives. Here's how banks will be affected.

The levy targets large financial institutions as a source of revenue. Industry groups argued that it discriminates against out-of-state banks, but the Washington Supreme Court disagreed.

The National Credit Union Administration has become too soft on the industry it is supposed to regulate. A hearing on two board nominees is a chance for Congress to change this.

A coalition of free-market-oriented groups is calling on Senate Finance Committee Chairman Orrin Hatch to rethink his push for a new tax on credit unions.

Several banks suffered fourth-quarter hits when they reduced the value of certain energy investments. Still, renewable energy could remain a viable business thanks to other benefits embedded in the tax law.

Commercial lending and mortgage income surged in the fourth quarter at the West Virginia bank thanks to two acquisitions, but a tax charge cut into profits.

The Chicago custody bank won new fund-administration business and benefited from the acquisition of a UBS asset-management unit. A one-time adjustment tied to the new tax law also provided a boost.

The new tax law took a one-time bite out of fourth-quarter results, but higher rates strengthened yields and new business boosted fee income.

The new tax law led to a nearly $16 million charge at the Pennsylvania bank, but it reported 7% loan growth and an 8% increase in fee income.

The new tax law helped boost fourth-quarter results at SunTrust Banks in Atlanta, while the recent rate hikes led to gains in spread income.

BNY Mellon plowed some of its tax law savings into restructuring efforts.

Tax reform and other regulatory factors could allow Citigroup — and other banks — to maintain high capital levels and strong rewards for shareholders.

The Pittsburgh company got the tax-related boost from an increase in the valuation of its deferred tax liabilities. It was partly offset by several charges.

The McLean, Va., company and several other banks have disclosed the charges they expect to record in the fourth quarter due to lower values on their deferred tax assets.

Bank of America, PNC join a growing list of banks planning to use the anticipated savings from the reduction in the corporate tax rate to boost wages for employees.

After Wells Fargo and Fifth Third said that the looming tax cut will allow them to raise pay, four smaller banks followed suit.

Fifth Third said it will give a bonus or raise to about three-quarters of its employees while Wells Fargo raised its minimum hourly pay in the wake of Congress' passing a tax reform bill.

The U.S. needs to cut corporate tax rates to keep businesses from moving abroad, even if that means raising rates for wealthy individuals and removing the carried interest tax break for investment managers, said JPMorgan Chase Chief Executive Officer Jamie Dimon.

Banks have started reconsidering how much they are willing to pay for low-income housing tax credits.