Tax

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.

It’s only early December, but bank CEOs’ comments this week about tax reform, their thirst for deposits, consumer lending initiatives, and challenges in commercial lending offer a sneak peek at what’s coming when earnings season begins next month.

Digital currency surges past both $12,000 and $13,000 on Wednesday; the bank may make it back quickly, depending on the corporate income tax rate.

During an industry conference Tuesday, executives from PNC, Wells Fargo, JPMorgan Chase and elsewhere offered differing takes on whether the Republican tax plan will boost loan demand.

The expected refund is tied to loans that investors bought when they acquired the failed BankUnited in 2009.

A provision in the original Senate tax reform bill would have required companies acquiring mortgage servicing rights to pay taxes upfront for their anticipated servicing income.

The financial services industry has cheered a proposed reduction in the corporate tax rate, but a lower rate could force Fannie Mae and Freddie Mac to write down assets, increasing the odds that the companies will need Treasury support.

The U.S. needs to cut corporate tax rates to keep businesses from moving abroad, even if that means raising rates for wealthy individuals and removing the carried interest tax break for investment managers, said JPMorgan Chase Chief Executive Officer Jamie Dimon.

The trial of Stefan Buck was an unusual courtroom showdown in the decade-old fight by the U.S. against tax evasion aided by financial institutions in Switzerland.

Beyond overall tax cuts, there's also potential benefits for investors in fintech and payments innovation, writes Rick Lazio, former Republican Representative from New York and current senior vice president at alliantgroup.

The House-passed tax bill would eliminate the New Markets Tax Credit while the Senate bill would not reauthorize it when it expires in two years. Bankers and other proponents say that if it is discontinued many economic development projects in rural and low-income communities won’t be funded.