Politics

Treasury Secretary Janet Yellen called October's positive inflation report in the U.S. "a good reading," but cautioned against relying too much on one data point.

Wall Street is walking into a new era of risk that has bankers, lawyers and climate campaigners reaching for a different playbook.

A federal judge in Texas struck down the Biden administration's plan, calling it "one of the largest exercises of legislative power without congressional authority in the history of the United States."

House Financial Services Committee Chair Maxine Waters joined her Republican counterpart on the panel saying FTX's unwinding hastens the need for legislation that outlines crypto regulation.

A ballot initiative that places additional restrictions on debt collectors and decreases the interest rates that can be charged on medical debt passed Tuesday by an overwhelming margin. Consumer advocates say it will ease the burden on households dealing with hardship, but industry groups contend that it will make credit more expensive.

A Consumer Financial Protection Bureau report on complaints about cryptocurrencies said consumers have difficulty obtaining any restitution for lost crypto funds.

The CFPB's recent guidance on so-called "unfair" bank fees has created legal turmoil for banks and financial firms after the White House claimed the bureau's actions were settled law.

Chancellor of the Exchequer Jeremy Hunt plans to cut a surcharge on U.K. bank profits, effectively shielding them from the bulk of an increase in the country's corporate tax rate as the government tries to preserve the competitiveness of Britain's finance industry.

North Carolina Republican Pat McHenry, who's likely to be the next chair of the House Financial Services Committee, promised constituents that he would go after "woke corporations" in Washington.

Small-business owners need all the savings they can get, but the proposed legislation will ultimately cost consumers and entrepreneurs.

Rep. Patrick McHenry, R-N.C., who could be the next House Financial Services Committee chairman, handily won reelection, as did Sen. Tim Scott, R-S.C., of the Senate Banking Committee. But many consequential races are still too close to call.

The world's largest crypto trading platform, Binance, is bailing out its rival FTX in a buyout amid the smaller company's liquidity crisis.

Scams and fraud on real-time payment platforms are well documented. To solve the problem regulators, lawmakers and the public must acknowledge the inherent risks that come with a powerful new technology and develop rules to make it safer.

UBS Group's Frankfurt and Munich offices are being searched by prosecutors as part of a money laundering investigation linked to the sanctioned Russian oligarch Alisher Usmanov, people familiar with the probe said. 

The Treasury and State departments have quietly urged banking giants including JPMorgan Chase and Citigroup to keep doing business with certain strategic Russian firms, according to people familiar with the situation. Some lawmakers have questioned whether these arrangements are sanctions loopholes.

"We're at the very beginning of that mission" to tighten policy enough to slow down the economy and push down inflation, says Bill Dudley, a former New York Fed president.

The president is responding to critics who say many of Democrats' key policies do not address core expenses for Americans.

The Federal Reserve's semiannual financial stability report said the threat of continued high prices and the Fed's response to them are top threats for banks and other market participants.

Facing calls for more transparency around its account-granting processes, the central bank has proposed making a public database of institutions with access to its services.

The U.K. parliament started an inquiry into nonfungible tokens, the digital collectibles for which Prime Minister Rishi Sunak has been a champion.