U.S. watchdog sues Capital One, alleging bank cheated customers out of $2 billion
The CFPB claims Capital One intentionally kept news of its higher-yield savings accounts from members with lower-yield savings accounts.
banking
Regulators target fees for consumers who are denied a purchase for insufficient funds
It's the latest salvo in the government's campaign against so-called "junk fees," which President Biden said last year harm "working folks" and drive up costs for consumers.
Teetering banks put Biden between a bailout and a hard place ahead of the 2024 race
Voters hate bank bailouts. But letting them fail without a safety net for customers could have been even worse for President Biden ahead of the 2024 presidential race.
Could the banking turmoil affect you? 5 ways it might
There are possible consequences for regular people, small businesses and the economy.
People in Lebanon are robbing banks and staging sit-ins to access their own savings
Lebanon's banks froze accounts three years ago amid an economic collapse. Now, under increasingly desperate circumstances, people are resorting to extreme measures to access their savings accounts.
Goldman Sachs CEO sees recession risk as more likely than his own economists do
Landing a job at Goldman Sachs is a golden ticket. It's harder to get hired by Goldman than to get into Harvard. CEO David Solomon says 3,500 workers start this week. He wants them all in the office.
Saule Omarova gets candid: Banks sank her nomination to become a key regulator
Days after withdrawing her nomination to become a key banking regulator, Omarova blames banks for distorting her research and creating an ugly environment.
Trump Regulator's Rule Would Force Banks To Lend To Gun-Makers And Oil Drillers
The Trump administration is trying to force banks to make loans to gun-makers and to finance payday lenders. Critics call the move bizarre. It's opposed by watchdog groups and banks.
38 Attorneys General Ask Congress To Bring Marijuana Money Into Banking System
Most states have legalized marijuana in some form. But federal law still considers it an illegal drug, which exposes banks to legal risk if they handle weed-related money or transactions.
Bags Of Cash, Armed Guards And Wary Banks: The Edgy Life Of A Cannabis Company CFO
Being chief financial officer in a pot business requires lots of workarounds, including hiring heavily armed guards. Few financial firms are willing to service a market that remains federally illegal.