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Fed's balance sheet plan, economic outlook under microscope

12 hours ago DieselGasoil Comments Off on Fed's balance sheet plan, economic outlook under microscope
WASHINGTON (Reuters) – The U.S. Federal Reserve on Wednesday is expected to hold interest rates steady, shave the number of hikes projected for the rest of the year, and release long-awaited details of a plan to end the monthly reduction of its massive balance sheet. Federal Reserve Board building on Constitution Avenue is pictured in Read More

U.S. bank regulator fines Citigroup $25 million for violating fair lending rules

1 day ago DieselGasoil Comments Off on U.S. bank regulator fines Citigroup $25 million for violating fair lending rules
FILE PHOTO: The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren WASHINGTON (Reuters) – The U.S. Office of the Comptroller of the Currency (OCC) said on Tuesday it has fined Citigroup $25 million for violating the Fair Housing Act after it Read More

Principal Financial close to Wells Fargo retirement unit acquisition-sources

3 days ago DieselGasoil Comments Off on Principal Financial close to Wells Fargo retirement unit acquisition-sources
A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith (Reuters) – Principal Financial Group Inc is in advanced talks to acquire Wells Fargo & Co’s retirement plan services business, in a deal that could exceed $1 billion, people familiar with the matter said on Sunday. Wells Fargo has Read More

PwC to pay $335 million over failed audits of Alabama's Colonial Bank: U.S. regulator

5 days ago DieselGasoil Comments Off on PwC to pay $335 million over failed audits of Alabama's Colonial Bank: U.S. regulator
FILE PHOTO: The exterior of PricewaterhouseCoopers (PWC) is seen in Washington, DC, U.S. December 6, 2017. REUTERS/Mike Stone WASHINGTON (Reuters) – A top U.S. banking regulator said on Friday that PricewaterhouseCoopers will pay $335 million to settle claims of “professional negligence,” after saying the auditor should have identified problems leading to the 2009 collapse of Read More

Wells Fargo CEO's pay raise draws rare Fed response

7 days ago DieselGasoil Comments Off on Wells Fargo CEO's pay raise draws rare Fed response
(Reuters) – Wells Fargo & Co gave Chief Executive Tim Sloan a 5 percent pay raise for 2018, prompting the Federal Reserve to release a statement saying that it does not sign off on executive pay. Wells Fargo CEO Tim Sloan testifies before a House Financial Services Committee hearing titled: “Holding Megabanks Accountable: An Examination Read More

Former Trump campaign chief jailed for 43 more months

1 week ago DieselGasoil Comments Off on Former Trump campaign chief jailed for 43 more months
Donald Trump’s former campaign chairman Paul Manafort has been jailed for an additional three-and-a-half years after admitting two charges of conspiracy. On sentencing the 69-year-old, the judge questioned his remorse and criticised him for his crimes and years of lies. “It is hard to overstate the number of lies and the amount of fraud and Read More

Wells Fargo CEO avoids major stumble at heated congressional hearing

1 week ago DieselGasoil Comments Off on Wells Fargo CEO avoids major stumble at heated congressional hearing
WASHINGTON (Reuters) – Democratic and Republican lawmakers on Tuesday pressed Wells Fargo & Co Chief Executive Tim Sloan for proof the bank has put a string of consumer abuse scandals behind it at a tense congressional hearing that saw Sloan firmly on the defensive. Wells Fargo’s CEO Tim Sloan is sworn in before testifying in Read More

Worried about next downturn? U.S. credit funds may offer early clues

1 week ago DieselGasoil Comments Off on Worried about next downturn? U.S. credit funds may offer early clues
NEW YORK (Reuters) – It seemed like an opportunity a lender would not want to miss. FILE PHOTO: An employee of a bank counts US dollar notes at a branch in Hanoi, Vietnam May 16, 2016. REUTERS/Kham The loan paid 10.25 percent interest which would go up if a benchmark rose. The borrower was Trident Read More

Trump's daughter-in-law to rivals: Wait until 2024, you won't beat him

1 week ago DieselGasoil Comments Off on Trump's daughter-in-law to rivals: Wait until 2024, you won't beat him
Lara Trump is at the forefront of the push to get Donald Trump another four years in the Oval Office. The president’s daughter-in-law is now senior adviser to the 2020 re-election campaign and she’s feeling confident about his chances. In an exclusive interview with Sky News at Trump Tower in New York, she dismissed the Read More