Latest Financial services News

Iowa Democrats worry 'Medicare for All' hurts key industry

Dec. 14, 2019 2:49 PM EST

DES MOINES, Iowa (AP) — Kim Motl doesn’t work in the health insurance industry. But her friends and neighbors do. So when she saw Sen. Elizabeth Warren recently in Fort Dodge, Iowa, Motl pressed the Democratic presidential candidate about her “Medicare for All” plan, which would...

Blackwater founder Prince visited Venezuela's sanctioned VP

Dec. 13, 2019 11:40 PM EST

MIAMI (AP) — Erik Prince, a major Trump donor and the founder of controversial security firm formerly known as Blackwater, traveled to Caracas last month for a secret meeting with Venezuela's vice president, according to several people familiar with the visit. It's not clear whether Prince, who has been...

Insurance plan fights overhaul aimed at wildfire areas

Dec. 13, 2019 7:21 PM EST

SACRAMENTO, Calif. (AP) — As California homeowners in wildfire-prone areas struggle to find insurance, a lawsuit filed Friday will test the state's authority to help them. California's insurance industry pays into a fund that sells coverage to people who can't buy it through no fault of their own. Known as...

Man accused of robbing two Vermont banks pleads not guilty

Dec. 13, 2019 11:11 AM EST

SOUTH BURLINGTON, Vt. (AP) — A Vermont man accused of robbing two banks in one week has pleaded not guilty. Police arrested Jason Cromie, 28, on suspicion of robbing a bank in downtown Burlington on Tuesday and another one Wednesday in South Burlington. The Burlington resident was charged with assault...

Pound jumps on expected Tory win; trade talk lifts shares

Dec. 12, 2019 11:15 PM EST

BANGKOK (AP) — The British pound surged early Friday as exit polls indicated a resounding election victory for Prime Minister Boris Johnson's Conservative Party, as talk of a China-U.S. trade deal buoyed share prices in Asia. The British pound strengthened to $1.3468 from $1.3385 late Thursday as...

US long-term mortgage rates rise; 30-year loan at 3.73%

Dec. 12, 2019 1:12 PM EST

WASHINGTON (AP) — U.S. long-term mortgage rates rose this week. Still, rates remain at historically low levels as a lure to prospective homebuyers. Mortgage buyer Freddie Mac says the average rate for a 30-year fixed-rate mortgage increased to 3.73% from 3.68% last week. The benchmark rate stood at 4.63%...

Greece: Lawmakers back plan to ax massive bad-loan backlog

Dec. 12, 2019 12:40 PM EST

ATHENS, Greece (AP) — Lawmakers in Greece on Thursday approved a state guarantee system aimed reducing a massive volume of non-performing and troubled loans at private banks that built up during the country's extended financial crisis. Parliament approved the so-called Hercules asset protection system that...

Europe's new central banker aims to put her stamp on the job

Dec. 12, 2019 12:05 PM EST

FRANKFURT, Germany (AP) — Christine Lagarde is wasting no time in putting her stamp on the European Central Bank. The bank's new president said at her first news conference Thursday that she will lead a top to bottom review of how the institution sets monetary policy, looking at everything from how it...

The high-interest account you’ve never heard of

Dec. 12, 2019 11:41 AM EST

The average interest rate for traditional savings accounts today hovers around 0.09% — but consumers can earn 10 to 20 times more interest on their money by giving high-yield options a shot. While banking customers have likely heard of high-yield online savings accounts, less familiar is a relatively new...

Survey says Iowa farmland values rose despite challenges

Dec. 12, 2019 9:16 AM EST

AMES, Iowa (AP) — An Iowa State University survey says farmland values in the state rose 2.3% over the past year, despite the trade disputes and declining income. The increase was only the second in six years, according to the survey report released Wednesday. Low interest rates, strong yields and a...