Tax

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.

The FHFA is allowing Fannie Mae and Freddie Mac to invest in the credits for the first time since they entered conservatorship. Its purpose is to promote affordable housing in underserved markets.

Banks would be big winners if Congress slashes corporate tax rates and they will have no shortage of options for deploying all that extra cash.

Housing advocates are pressing Senate Republicans to expand the low-income housing tax credit program while pushing back against a House GOP plan that would eliminate financing for half of all affordable housing units.

While the Bank of America chief says he is encouraged by progress on tax reform, he cautioned that it remains politically and fiscally tough to accomplish, and that the wrong moves on immigration could offset some of the gains from tax cuts.

After so many political surprises in the last year, could a CU tax-status shake-up be next?

The industry was understandably pleased to see its tax exemption isn't on the chopping block, but this contest has only just begun.

Company’s first earnings report since the data breach also discloses lots of suits and investigations; Senate bill also calls for one-year delay in corporate tax rate cut to 20%.

The Senate tax proposal released Thursday would cap the mortgage interest deduction for properties worth $1 million, a reversal from the House plan that would have limited the deduction to $500,000.

Here's a look at the 12 housing markets with the largest percentages of mortgages over $500,000 — the new threshold House Republicans have proposed for the mortgage interest deduction in their tax plan.

Bank lobbyists are increasingly worried that the Senate Republicans may go further than the House in taxing large financial institutions as part of their reform push.