Latest Banking and credit News

Firm says Wawa customers' hacked credit card info being sold

Jan. 28, 2020 5:30 PM EST

PHILADELPHIA (AP) — Convenience store giant Wawa Inc. said Tuesday it is responding to reports that hacked information from its customers' credit cards may be being sold on the dark web. The company said in a news release that customers who may be affected can obtain free credit monitoring and identity...

Trader Michael Milano works on the floor of the New York Stock Exchange, Tuesday, Jan. 28, 2020. Stocks are opening broadly higher on Wall Street a day after the S&P 500 had its biggest drop since early October. Technology companies were putting up some of the biggest gains early Tuesday. (AP Photo/Richard Drew)

Stocks indexes gain on Wall Street a day after a big drop

Jan. 28, 2020 5:16 PM EST

Stocks closed broadly higher on Wall Street Tuesday, reversing a big slice of the market’s losses from a sharp sell-off the day before. The rebound ended a five-day losing streak for the Dow Jones Industrial Average fueled largely by fears that the spread of a new virus in China could hamper global...

FILE - In this Dec. 11, 2019, file photo Federal Reserve Chair Jerome Powell arrives to speak at a news conference after the Federal Open Market Committee meeting in Washington. For the first time in years, Federal Reserve officials will hold their latest policy meeting this week feeling broadly satisfied with where interest rates are and with seemingly no inclination to change them anytime soon. Powell has expressed a sense of gratification with Fed policy. (AP Photo/Jacquelyn Martin, File)

Fed seems content with low rates but confronts challenges

Jan. 27, 2020 11:28 AM EST

WASHINGTON (AP) — For the first time in years, Federal Reserve officials will hold their latest policy meeting this week feeling broadly satisfied with where interest rates are and with seemingly no inclination to change them anytime soon. Chairman Jerome Powell has expressed a sense of gratification with...

This Week: Consumer confidence, Fed meeting, Amazon earns

Jan. 27, 2020 1:00 AM EST

A look at some of the key business events and economic indicators upcoming this week: EYE ON CONSUMERS Economists project that a barometer of U.S. consumer confidence rebounded after declining last month. They expect that the Conference Board's consumer confidence index rose to 128.4 this month, reflecting...

FILE - In this Jan. 9, 2020, file photo specialist Brian Giannettino works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Friday, Jan. 24. (AP Photo/Richard Drew, File)

Stocks fall as fears about deadly virus grow; Dow drops 170

Jan. 24, 2020 5:03 PM EST

Health care companies led a broad slide in U.S. stocks Friday as increased fears over the spread of a deadly outbreak of coronavirus rattled markets. The S&P 500 had its worst day since early October and snapped a two-week winning streak. The sell-off followed news that a Chicago woman has become the second...

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...

A restaurant sign alerts customers that it's

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,...