Tax

Senate Republicans plan to modify the massive fiscal package to lower maximum deductions for state and local taxes and limit the impact of a "revenge" tax.

Paula Comings, the head of currency sales for U.S. Bancorp, said American importers are hearing from their foreign counterparties that they no longer want to be paid in U.S. currency.

The impact of President Trump's tariffs is the top concern for most middle-market American businesses, a new KeyBank survey found. But these firms also view the scrambled landscape as a chance to innovate and restructure.

The Texas senator pitched Republican senators on ending the Federal Reserve's authority to pay interest to banks, claiming it would save $1.1 trillion over a decade.

Royal Bank of Canada, BMO Financial and others increased allocations to cover the possibility of souring loans as trade pressures shake international markets.

The government measure of inflation for May ticked up modestly, adding to the signals that the Federal Reserve is unlikely to move on interest rates when it meets next month.

The U.S. economy added 139,000 jobs, a healthy clip that counters the president's calls for a rate cut to bolster the labor market.

Some Wall Street investors are beginning to doubt whether the harshest outcomes of President Trump's tariff threats will materialize. But in the absence of certainty, banks still face real challenges in M&A and long-term strategy.

The Federal Reserve Board governor said higher import tariffs could have a "persistent" impact on inflation.

The payments company hopes to build its brand outside of its U.K. home base while attracting a deeper investor pool.

The Treasury market experienced unexpected volatility in April after President Trump announced sweeping tariffs, but recovered after the moves were delayed. Some see that as proof of resilience in the market, but others say it highlights vulnerabilities.

This might deeply disappoint Wall Street investors who've been counting on a windfall if Fannie and Freddie are set free.

Federal Reserve Gov. Christopher Waller said changes to the Federal Open Market Committee's quarterly economic projections could lead to clearer communication with markets and market participants.

The Federal Reserve's preferred measure of inflation moved closer to the 2% target last month, but the impact of tariffs remains to be seen.

The item calls for increasing tax rates for individuals and companies from countries whose tax policies the U.S. deems "discriminatory." This includes raising tax rates on passive income, such as interest and dividends, earned by investors who are potentially sitting on trillions in American assets.

A jump in provisions dragged down the Royal Bank of Canada's profits last quarter, prompted by the bank's fears of a potential tariff-driven recession.

Growth in consumer spending was revised down, but estimates for imports and business investment were raised.

According to a new survey from HSBC, 72% of American corporations have seen their operating costs increase due to the Trump administration's new tariffs.

BMO Financial Group has sold a U.S. credit card portfolio and exited a franchise loan portfolio as part of an effort to achieve a return on equity of at least 12% in its U.S. business.

Bank of Nova Scotia missed earnings estimates for its fiscal second quarter after setting aside more money than expected for bad credit as tariffs hit its Canadian and Mexican operations.