Tax

Policymakers are right to re-examine the industry’s exemption and the unfair competitive advantage it provides.

The payments technology that powers international trade is crucially important because it helps streamline the processes and trim the costs of conducting business overseas, according to Darren Hutchinson, head of commercial in the Americas for WorldFirst.

Rising tariffs are rapidly increasing the cost of building materials, putting banks at risk.

A huge chunk of the profit increase in the second quarter was due to a lower tax rate, but rising net interest margins and loan growth signal that institutions continue to derive revenue from their loan book.

The industry’s profit was $60.2 billion, a more than 7% increase from the previous record set in the first quarter and a 25% leap from a year earlier, the agency said in its quarterly report on the industry's health.

What are community banks doing with savings from the corporate tax cut? Several CEOs share how they've put that money to use.

The Treasury Department and the Internal Revenue Service issued a proposal that would allow pass-through businesses like Subchapter S banks to deduct 20% of their business income as part of the new tax law President Trump signed last year.

Multiple agencies are looking into its purchase of certain credits tied to low-income housing developments, the bank said in a securities filing Friday.

Depending on the asset class, about 11%-18% of earnings per share came from tax savings. The looming question is how do they top themselves in 2019 when tax rates don’t change like they did this year.

The recent decision involved sales taxes, but Wells Fargo recorded a net expense of $481 million under the assumption that it will also lead to higher state income taxes. Other banks may have to follow suit.