Tax

The Supreme Court Friday issued a 6-3 ruling that held that a law granting the White House economic emergency powers does not include the power to tax imports.

In a blow to the President's economic agenda, the high court said the trade barriers could not stand.

In a major setback for banks and credit card networks, a federal judge upheld an Illinois law that bans the collection of interchange fees on sales tax and tip portions of card transactions. Banks are expected to appeal the ruling.

With clients expecting more from their estate planning, financial advisors are becoming the go-to source for a plurality of investors, a new survey shows.

Federal Reserve Gov. Lisa Cook said in a speech Wednesday night that the central bank's credibility depends on its ability to bring inflation back to its 2% target.

Banks typically prefer to steer clear of politics. But in 2025, politics would not steer clear of banks

Treasury Secretary Scott Bessent said the Federal Reserve Board should reject the renomination of any regional Federal Reserve Bank presidents who have not lived in their districts for three years, signaling a potential confrontation when reappointments come before the board in February.

In an environment of persistent economic unease, banks have a unique opportunity to help small businesses, Sekou Kaalund, U.S. Bank's head of branch and small business banking, said at American Banker's 2025 Small Business Banking conference.

An apparent increase in large-scale borrower fraud and the hot environment for bank mergers were the key themes as banks discussed their third-quarter results.

Panelists speaking at American Banker's Most Powerful Women in Banking conference said they appreciate the deregulatory efforts underway under Trump, but said clarity on tariffs and rules of the road for emerging technologies would unlock future growth.

After a quarter in which Goldman Sachs beat Wall Street's expectations, CEO David Solomon said he was seeing a "meaningful improvement" in the macroeconomic environment.

JPMorgan estimates the effort, which will ramp up the amount of capital, resources and personnel that it dedicates to a variety of sectors, such as rare earth minerals, pharmaceutical precursors and robotics, will add as much as $500 billion to what it would've provided anyway.

Federal Reserve Vice Chair Philip Jefferson said despite the near term cloudiness to economic projections, he does expect inflation to resume its downward trajectory next year and reach the Fed's 2% inflation target in the coming years.

Federal Reserve Governor Stephan Miran floated the idea of conducting monetary policy with an eye toward the neutral rate and suggested that the president's immigration and fiscal policies will exert downward pressure on inflation.

The bank is selling a bundle of products that enable businesses to store global currencies inside the U.S. in FDIC-insured accounts, lowering foreign exchange risk and reliance on third parties.

As the holiday shopping season approaches, retailers are grappling with how to optimize their inventory and set prices amid higher tariffs. A new Wells Fargo report sheds light on how businesses are adapting.

Congress should hold hearings to investigate whether credit unions really qualify to operate as tax-advantaged Community Development Financial Institutions.

Pressure on Asian merchants that sell to the U.S. caused the Dutch payment company to reduce its outlook. Payment experts say it's a matter of time before other firms face the same challenges.

Federal Reserve Bank of Chicago President Austan Goolsbee said the Fed is not tied to Wall Street or political interests and that independence is necessary to prevent inflation.

Core CPI, which excludes food and energy, rose to 3.1%, up from 2.9% in June.