Tax

The country's biggest bank is leaning more on fee income to offset rate pressures, expanding in selected U.S. cities and laying the groundwork for operations in China that CEO Jamie Dimon hopes will endure “for 100 years.”

The proposed changes laid out by banking regulators would clear up confusion about what qualifies for CRA credit within so-called Opportunity Zones. But not all community development advocates are convinced that the changes are for the better.

But some industry watchers are tempering expectations, saying that the language is too vague to know for sure if China is serious about introducing more foreign competition.

Readers react to the FDIC's fine against a bank over a 5-year-old consent order, Regions Financial's about-face on acquisitions, HUD's promotion of a controversial CFPB official and more.

So far farm loans are holding up well, but bankers gathered at an industry conference this week said they are growing increasingly concerned that credit quality will weaken if the U.S. and China don’t reach a deal soon.

Readers react to Sen. Warren's call for banks to fund her Medicare plan, a proposal requiring big-bank CEOs to testify before Congress, federal regulators lacking Trump appointees on their board and more.

If elected president, Sen. Elizabeth Warren would charge large banks a fee to help pay for her Medicare-for-all plan.

A special committee in the state Senate has recommended not to move forward on a proposed bill to tax credit unions above a certain asset threshold.

Amid concern that an economic downturn is approaching, Greg Carmichael said that banks need to focus on credit quality and not worry about expanding their balance sheets.

A study commissioned by the Florida Bankers Association found that 70% of participants supported Congress requiring CUs with at least $500 million in assets to pay income taxes.