Latest Banking and credit News

5 things to watch for from the Federal Reserve on Wednesday

Dec. 18, 2018 1:39 PM EST

WASHINGTON (AP) — The Federal Reserve is poised Wednesday to raise its key interest rate for the fourth time this year. But beyond that, the Fed's plans are shrouded in uncertainty. What analysts do expect from the Fed is the message that it plans to become more flexible in its rate decisions starting next...

US stocks climb after two big losses; oil falls 5 percent

Dec. 18, 2018 12:48 PM EST

NEW YORK (AP) — U.S. stocks are broadly higher at midday Tuesday, putting at least a temporary halt to the steep market losses that circled the globe in prior days. Asian markets sank sharply earlier in the day and European markets continued to slip. The Dow Jones Industrial Average is up about 300 points...

Millennial Money: Playing catch-up with credit cards

Dec. 18, 2018 11:52 AM EST

Millennials would rather swipe right than swipe plastic. They love to pay their brunch tabs with cash. Debt scares them so much they don't care about credit card rewards. The generation born 1981-1996 is accused of many things, but their dislike of credit cards is blown out of proportion. A Google search for "why...

For Trump, the economy is a potential 2020 storm cloud

Dec. 18, 2018 7:58 AM EST

WASHINGTON (AP) — Forget Robert Mueller. The greatest threat to President Donald Trump's re-election bid may not be the slew of investigations closing in on his Oval Office but a possible economic slowdown. And the president knows it. The Dow Jones Industrial Average fell again Monday, the latest dip in...

World stock markets stabilize as focus turns to Fed

Dec. 18, 2018 6:55 AM EST

SINGAPORE (AP) — World stocks stabilized Tuesday, with Wall Street expected to edge up after heavy losses the day before, as traders prepare for a likely interest rate hike by the Federal Reserve. KEEPING SCORE: In Europe, Germany's DAX was 0.5 percent higher at 10,820 after falling into a bear market on...

Asian shares slip as traders ready for Fed rate hike

Dec. 17, 2018 10:46 PM EST

SINGAPORE (AP) — Asian stocks fell on Tuesday, tracking losses on Wall Street as traders braced for an interest rate hike by Federal Reserve. KEEPING SCORE: Japan's Nikkei 225 index was 1.2 percent lower at 21,242.66 and the Kospi in South Korea dropped less than 0.1 percent to 2,070.54. Hong Kong's Hang...

After the Fed's likely rate hike this week, all bets are off

Dec. 17, 2018 6:09 PM EST

WASHINGTON (AP) — Having raised interest rates with steady regularity in recent months, the Federal Reserve may embrace a new message this week: Flexibility. On Wednesday, the Fed is set to announce its fourth rate hike of the year. But after this week, no one is sure what it will do. Neither, most likely,...

Ex-bank president gets 6 years prison for fraud, conspiracy

Dec. 17, 2018 2:53 PM EST

WILMINGTON, Del. (AP) — The former president of the only financial institution criminally charged in connection with the federal bank bailout program was sentenced Monday to six years in prison for covering up the bank's troubled condition in the wake of the 2008 financial crisis. Former Wilmington Trust...

After the Fed's likely rate hike this week, all bets are off

Dec. 17, 2018 10:42 AM EST

WASHINGTON (AP) — Having raised interest rates with steady regularity in recent months, the Federal Reserve may embrace a new message this week: Flexibility. On Wednesday, the Fed is set to announce its fourth rate hike of the year. But after this week, no one is sure what it will do. Neither, most likely,...

World stocks mixed ahead of Brexit address; Fed in focus

Dec. 17, 2018 4:21 AM EST

SINGAPORE (AP) — World markets were mixed on Monday as British Prime Minister Theresa May prepares to address the House of Commons over a messy exit deal. Most Asian indexes rose on hopes that the Federal Reserve would re-evaluate its hawkish stance at a meeting later this week, following signs of slower...