Tax

Any decline in home equity balances could be offset by higher demand for other types of consumer loans. The worry is that only borrowers with blemished credit will take out home equity loans, increasing banks’ risk.

The reduction is “primarily” from a lower value of net deferred tax assets, the bank said in a securities filing Friday, the same day President Trump signed the legislation.

Bank of America, PNC join a growing list of banks planning to use the anticipated savings from the reduction in the corporate tax rate to boost wages for employees.

The legislation and public perceptions of it are expected to play a major role in 2018 elections that will determine whether Republicans retain control of Congress.

After Wells Fargo and Fifth Third said that the looming tax cut will allow them to raise pay, four smaller banks followed suit.

Earlier versions of the bill would have caused bigger changes in how Americans finance home purchases, higher education and retirement. Still, the final legislation will have important effects on borrowing and saving decisions.

Fifth Third said it will give a bonus or raise to about three-quarters of its employees while Wells Fargo raised its minimum hourly pay in the wake of Congress' passing a tax reform bill.

The leaders of both national credit union trade associations praised lawmakers for maintain the movement’s tax-exempt status in the final version of a controversial tax reform bill.

The tax reform legislation approved by Congress on Wednesday and expected to be signed by President Trump soon is mostly good news for banks, but many will have to take big charges in the fourth quarter as a result.

The Senate approved the final tax reform plan 51-48 early Wednesday, the second-to-last obstacle before sending it to President Trump for his signature.

Top officials at the Internal Revenue Service met with mortgage industry groups this week to discuss possible fixes to the agency’s verification system, which lenders rely on to process mortgage loans.

The House vote moved a sharp reduction in the corporate tax rate for banks and other businesses to within a few steps of becoming law.

Mary Mack adds mortgage and auto units to her already large portfolio; futures price dips but volume up compared to Cboe’s first day of trading.

With tax reform close to the finish line, bankers are still clear winners from the compromise worked out between House and Senate negotiators. But the bill includes some caveats that might give institutions pause.

Jon Stein plans to make Betterment's robo-adviser as personalized and intelligent as the online retailer's recommendation engine.

Credit union trade associations lauded lawmakers while bankers -- predictably -- lamented the news.

Mortgage lenders are bracing for big delays in the processing of mortgage applications, citing a problem with the income verification system at the Internal Revenue Service.

Lawmakers should preserve the credit meant to spur economic development as part of sweeping tax reform being debated in Congress this week.

Interactive Brokers says it will allow customers to bet against the cybercurrency; aides to Alabama senator drafted for key regulatory positions to ease banking rules.

For the second week in a row, the CFPB's leadership shakeout dominated readers' attention, while a regional banker discussed efforts to fight hacking and the impact of the tax cuts, and bitcoin's price soared.