This week, Donald Trump announced a controversial cap on credit card interest rates at 10%, stirring debate among lawmakers and financial experts. While it aims to protect consumers from high rates, critics warn it could lead to reduced credit availability.
In a groundbreaking move, President Trump orders cannabis to be reclassified from Schedule I to Schedule III, potentially easing financial burdens for Michigan cannabis businesses and paving the way for expanded research and better banking access.
In a bold move, Tom Hayes has filed a lawsuit against UBS, claiming the bank maliciously prosecuted him to divert attention from senior executives in the infamous Libor scandal. After a decade of legal turmoil, Hayes seeks justice and punitive damages.
HSBC has exceeded Q3 profit expectations with a net income of $7.3 billion despite rising operating expenses. The bank's wealth division saw remarkable growth, indicating a strong recovery. Learn more about HSBC's financial strategies and future outlook.
JPMorgan Chase is contesting a staggering $115 million legal bill from convicted fraudsters Charlie Javice and Olivier Amar, claiming their excessive charges are abusive and unjust. The bank argues that the costs go beyond any reasonable defense expenses.
The recent AWS outage raised alarms about global dependence on major tech firms. Users faced disruptions ranging from banking access to losing streaks on apps, reigniting debates on tech reliance and market competition.
A recent wave of fraud cases and bankruptcies is raising alarms about unregulated loans, leading to a sell-off in U.S. banking stocks that is impacting global markets this week.
In a pivotal move for the banking industry, Fifth Third has announced its acquisition of Comerica, creating a financial powerhouse with $288 billion in assets. This merger aims to enhance competitiveness and expand into high-growth markets, signaling a new era for regional lenders.
The Amex Platinum card's annual fee is rising to $895, sparking debate on its value. With new perks aimed at Millennials and Gen Z, is it worth the cost? Find out what consumers think!
In a surprising announcement, the Federal Reserve has cut interest rates for the first time this year. However, experts warn this quarter-point reduction may not immediately impact mortgage or car loan rates as anticipated.