Latest Banking and credit News

Sauntore Thomas, right, and his lawyer, Deborah Gordon, left, talk, Thursday, Jan. 23, 2020 in Bloomfield Hills, Mich. Thomas, a black Air Force veteran who tried to deposit settlement checks from a discrimination lawsuit was rejected by his suburban Detroit bank, which suspected fraud and called police. After settling a lawsuit with his former employer, Sauntore Thomas now is suing TCF Bank, alleging racial discrimination. (AP Photo/Mike Householder)

Veteran accuses bank of discrimination for not taking checks

Jan. 23, 2020 6:47 PM EST

LIVONIA, Mich. (AP) — A Detroit-area bank that suspected fraud and refused to cash $99,000 in checks from a black Air Force veteran said Thursday that it mishandled the incident and should not have called police. Sauntore Thomas attempted to deposit checks from the settlement of a discrimination lawsuit...

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New York City Council votes to ban cashless businesses

Jan. 23, 2020 5:34 PM EST

NEW YORK (AP) — New York City lawmakers voted Thursday to require stores and restaurants to accept cash for payment, saying businesses that accept only credit and debit cards are discriminating against New Yorkers who lack bank accounts and credit cards. “This practice punishes the...

FILE - In this Sept. 20, 2016, file photo, Wells Fargo CEO John Stumpf testifies on Capitol Hill in Washington, before the Senate Banking Committee. Federal regulators have slapped former Wells Fargo Chief Executive Stumpf with a $17.5 million fine for his role in the bank's sales practices scandal. (AP Photo/Susan Walsh, File)

Former Wells Fargo CEO fined $17.5M for sales scandal

Jan. 23, 2020 2:59 PM EST

NEW YORK (AP) — Federal regulators have slapped former Wells Fargo Chief Executive John Stumpf with a $17.5 million fine for his role in the bank's sales practices scandal. Stumpf also accepted a lifetime ban from the banking industry. Along with its fine against Stumpf, the Office of the Comptroller of...

President of European Central Bank Christine Lagarde smiles prior to a press conference following a meeting of the governing council in Frankfurt, Germany, Thursday, Jan. 23, 2020. (AP Photo/Michael Probst)

European Central Bank holds rates, launches policy review

Jan. 23, 2020 11:54 AM EST

FRANKFURT, Germany (AP) — The European Central Bank has decided to launch a top-to-bottom review of how it steers the economy in the 19 countries that use the euro currency. The review, the first since the global financial crisis, could include tweaking the bank's goal for inflation and finding ways to...

This Aug. 11, 2019 photo shows credit and debit cards in New Orleans. Chase, Capital One, Barclays and other issuers are offering credit cards that reward you handsomely for things like meal delivery, grocery delivery or ride-hailing services. (AP Photo/Jenny Kane)

Why credit card rewards are targeting ‘convenience’ spending

Jan. 23, 2020 8:20 AM EST

If you’re spending a lot on convenience — whether in the form of grocery delivery, ride-hailing or meal delivery — your credit card wants to reward you for it, while encouraging you to spend more. Consider these recent offerings: — Chase announced in January that for a limited time,...

European Central Bank keeps interest rates, stimulus programs on hold, launches review of strategy

Jan. 23, 2020 7:48 AM EST
FRANKFURT, Germany (AP) — European Central Bank keeps interest rates, stimulus programs on hold, launches review of strategy.
Meng Wanzhou, chief financial officer of Huawei, leaves her home to go to B.C. Supreme Court in Vancouver, Wednesday, January 22, 2020. Wanzhou is in court for hearings over an American request to extradite the executive of the Chinese telecom giant Huawei on fraud charges. (Jonathan Hayward/The Canadian Press via AP)

Canada justice dept. lawyer says Huawei exec committed fraud

Jan. 22, 2020 3:42 PM EST

VANCOUVER, British Columbia (AP) — A Canadian justice department lawyer said Wednesday that fraud, not sanctions, is the crucial element for a judge to consider when deciding if a senior executive of Chinese tech giant Huawei should be extradited to the United States. This week's hearings deal with the...

FILE - In this Tuesday, Jan. 14, 2020 file photo, anti-government protesters smash a bank widows, during ongoing protests against the Lebanese central bank's governor and against the deepening financial crisis, at Hamra trade street, in Beirut, Lebanon. For years, many Lebanese have lived beyond their means, supporting their out-sized spending with loans and remittances from diaspora relatives. A severe financial crisis and unprecedented capital controls have put a stop to this, uniting rich and poor in anger against a banking system they accuse of holding their deposits hostage. (AP Photo/Hussein Malla, File)

Facing humiliating controls, Lebanese focus fury on banks

Jan. 22, 2020 1:34 AM EST

BEIRUT (AP) — Before picking up cash from a downtown bank in Lebanon's capital, Mey Al Sayegh mentally braces herself for what would have been a routine trip before the country's crippling cash crunch. For starters, it will be at least an hour's wait in line before her turn comes. And if she's lucky,...

President Donald Trump meets with Swiss President Simonetta Sommaruga at the World Economic Forum, Tuesday, Jan. 21, 2020, in Davos, Switzerland. (AP Photo/ Evan Vucci)

AP FACT CHECK: Trump's Davos remarks rife with distortion

Jan. 21, 2020 5:30 PM EST

WASHINGTON (AP) — On a rarefied world stage in the Swiss Alps, President Donald Trump cited accomplishments on clean air that aren't real, a level of economic progress he hasn't achieved and a blue-collar boom yet to be seen. His preening performance at the Davos economic conference was rife with...

Las Vegas Sands, PetMed fall; Peoples Bancorp rises

Jan. 21, 2020 4:19 PM EST

NEW YORK (AP) — Stocks that moved heavily or traded substantially on Tuesday: Delta Air Lines, Inc., down $1.69 at $60.34. Airlines and travel companies fell as concern about a Chinese disease outbreak grows. Peoples Bancorp Inc., up 62 cents at $35.23. The Marietta, Ohio-based bank's fourth-quarter profit...