Latest Banking and credit regulation News

Bank CEOs questioned on consumer protections, social issues

Sep. 22, 2022 14:49 PM EDT

NEW YORK (AP) — The CEOs of the nation’s biggest banks returned to Capitol Hill for a second day Thursday, and Senate Democrats strongly urged them to do more to help and protect their customers, while Republicans questioned whether banks should weigh in on hot-button social issues. ...

Bank CEOs warn that US economy faces 'daunting' challenges

Sep. 21, 2022 18:26 PM EDT

WASHINGTON (AP) — The CEOs of the nation's biggest banks appeared in front of Congress Wednesday and gave a dim view of the U.S. economy, reflecting the financial and economic distress many Americans are facing. JPMorgan Chase's Jamie Dimon, Citigroup's Jane Fraser and other chief...

Lebanon aims to adopt long-delayed IMF reforms in October

Sep. 20, 2022 09:49 AM EDT

BEIRUT (AP) — Crisis-hit Lebanon hopes to adopt key reforms demanded by the International Monetary Fund for a long-delayed but urgently needed bailout before the end of next month if there is “political will”, Lebanon’s caretaker economy minister said Tuesday. Amin Salam...

Iran faces US in international court over asset seizure

Sep. 19, 2022 11:37 AM EDT

THE HAGUE, Netherlands (AP) — Iran told the United Nations' highest court on Monday that Washington’s confiscation of some $2 billion in assets from Iranian state bank accounts to compensate bombing victims was an attempt to destabilize the Iranian government and a violation of international...

After cancellation, Dems look to reduce future student debt

Sep. 15, 2022 11:38 AM EDT

WASHINGTON (AP) — Building on President Joe Biden’s student debt cancellation plan, House Democrats on Thursday proposed new legislation that would increase federal student aid, lower interest rates on loans and take other steps to make college more affordable. The bill is being...

EXPLAINER: What to know about 'buy now, pay later'

Sep. 15, 2022 09:59 AM EDT

NEW YORK (AP) — Since the start of the pandemic, the option to “buy now, pay later” has skyrocketed in popularity, especially among young and low-income consumers who may not have ready access to traditional credit. If you shop online for clothes or furniture, sneakers or...

NC governor wants loan forgiveness exempt from state tax

Sep. 14, 2022 13:09 PM EDT

RALEIGH, N.C. (AP) — North Carolina Gov. Roy Cooper wants the General Assembly to pass legislation exempting individuals from state income tax on the student loan forgiveness announced by President Joe Biden last month. The White House has said the value of that forgiveness — up...

EU lawmakers support ban of goods linked to deforestation

Sep. 13, 2022 10:04 AM EDT

BRUSSELS (AP) — European Union lawmakers have backed a proposal for a law that would ban the sale in the 27-nation bloc of agriculture products linked to the destruction of forests. MEPs gathered on Tuesday in Strasbourg, France, supported and strengthened a plan from the EU's...

Editorial Roundup: Indiana

Sep. 13, 2022 07:13 AM EDT

Anderson Herald Bulletin. September 9, 2022. Editorial: Immigrant-friendly cities possible due to loopholes There are nearly 200 cities, counties and states in America that are considered sanctuaries for undocumented immigrants. The best known cities are San...

Indiana will tax loan forgiveness, similar to other states

Sep. 06, 2022 15:44 PM EDT

INDIANAPOLIS (AP) — Indiana will tax student debt relief as income, reflecting similar policies in other U.S. states following the Biden administration's announcement of a forgiveness plan last month. The Indiana Department of Revenue confirmed in an email to the Associated Press...