Interest rates

A bill that would have capped payday loan rates at 36% failed to get through committee, but credit unions have pledged to continue to fight for the legislation.

The legislation from Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez is part of an effort to shift the range of what is thinkable in Washington to the left. It may also serve to highlight the vulnerabilities of Democrats with bank-friendly records.

The Democratic senator's legislation, which has been floated in previous years, would apply to the APRs on all open-end and closed-end consumer credit transactions.

The Democratic senator's legislation, which has been floated in previous years, would apply to the APRs on all open-end and closed-end consumer credit transactions.

Money managers, which are critical to the success of State Street and Northern Trust, are aggressively moving cash into higher-rate products.

The Alabama company recorded a $91 million loan-loss provision and raised deposit rates during the first quarter.

CEO Joseph DePaolo lamented the tough funding environment after the New York bank said deposit costs jumped 90% in the first quarter. Signature was the second bank Wednesday to report a drag on profits from funding costs.

Bank of New York Mellon's clients shifted more of their deposits to higher-rate products. It was one of several trends that hurt the custody bank's bottom line.

Citi, Goldman, BofA earnings rose despite flat revenues; benchmark would be based on rates set on the American Financial Exchange.

JPMorgan Chase's banner quarter didn't stop executives from warning that the pause in rate hikes could crimp profits, or from hinting that the bank might downsize its mammoth mortgage operation.