Politics

The three megabanks will see their surcharges rise by 50 basis points, according to a new analysis of regulatory data. The Federal Reserve assesses the levies as a way to compensate for the impact that the collapse of a global systemically important bank would have on the financial system.

Payment firms including Mastercard and Block are banding together with fintech companies to press Canada to move faster on rules that may boost competition in financial services.

President Andres Manuel Lopez Obrador said he approves of the two known remaining bidders for Citigroup's Mexican retail unit, after other potential buyers were derailed amid strict conditions put forth by Mexico's leader.

BlackRock and UBS Group are among major financial firms taking steps to be removed from a list of companies that Texas has classified as "boycotting" the fossil fuel industry.

As the central bank considers publishing a list of account holders and applicants, parties on both sides of the industry would like it to go even further.

Federal Reserve officials at their meeting earlier this month concluded it would soon be appropriate to slow the pace of rate increases, signaling the central bank was leaning toward downshifting to a 50-basis-point hike in December.

Sens. Elizabeth Warren and Sheldon Whitehouse, both Democrats, have asked the Justice Department not to pull any punches as it investigates and seeks to hold accountable the executives at FTX who contributed to the crypto company's demise.

Citi was the only bank cited in the agencies' biennial review of living wills for the eight largest U.S. banks.

Our current high inflation rates and the recession that is probably facing the economy in 2023 have the fingerprints of Federal Reserve Board Chairman Jerome Powell all over them.

In the House of Representatives, Rep. Patrick McHenry wants to push regulators and bank CEOs on their ESG investments, but the real action is happening at the state level.

President Biden announced that his administration would extend the pandemic-era pause in student loan repayments through June 30 amid legal challenges to his college debt-forgiveness plan.

The growing anti-ESG backlash from Republican lawmakers may please the base, but as a practical policy it creates far more problems than it solves.

Russia's international ambitions for its homegrown alternative to Visa and Mastercard have been dashed as even some of its closest allies have dropped its Mir payment system following a threat by the U.S. to sanction anyone who helps or supports its use.

Sens.  Debbie Stabenow, D-Mich., the committee's chairman, and John Boozman, R-Ark., its ranking member, will need to revamp their legislation to oversee crypto, which was supported by FTX Chief Executive Sam Bankman-Fried.

SoFi Technologies was supposed to divest its digital-asset trading arm when it acquired Golden Pacific Bancorp, but Senate Democrats say the bank has instead expanded it.

If a $6.3 billion subsidy only generates a $304 million return in terms of housing and community development support, is that money well spent?

The collapse of the crypto empire founded by political megadonor Sam Bankman-Fried is being transformed into a new political battlefront as Republicans highlight links between Democrats and their onetime benefactor.

Lawmakers on both sides of the crypto debate see a call to action in the demise of the world's second largest crypto exchange. But a consensus path forward has yet to emerge.

President Biden called on the U.S. Supreme Court to let his student-loan relief plan take effect, setting the stage for a multibillion-dollar showdown that could affect more than 40 million borrowers.