A sign for the financial agency Fitch Ratings on a building at the Canary Wharf business and shopping district in London, U.K., on Thursday, March 1, 2012. Matt Lloyd | Bloomberg | Getty Images A warning from a Fitch Ratings analyst indicates that the U.S. banking industry is approaching the risk of widespread rating downgrades, …
At the headquarters of the Consumer Financial Protection Bureau (CFPB) in Washington, D.C., there are ongoing discussions among members of the Senate Banking Committee about the agency’s authority to regulate and eliminate junk fees that affect millions of consumers annually. Republican lawmakers are raising concerns that the Biden administration is pushing the CFPB to overstep …
Rohit Chopra, director of the Consumer Financial Protection Bureau, testified during a Senate Banking, Housing and Urban Affairs Committee hearing on April 26, 2022. Tom Williams | Cq-roll Call, Inc. | Getty Images Rohit Chopra, the director of the Consumer Financial Protection Bureau (CFPB), has outlined ambitious plans to address a range of issues, including …
A pedestrian walks by the Pinterest headquarters in San Francisco, April 9, 2019. Justin Sullivan | Getty Images Discover the key movers in the market before the opening bell. Bank of America — Bank of America shares rose 0.4% in premarket trading after exceeding expectations for the second quarter in terms of both revenue and …
President Joe Biden officially enacted the Inflation Reduction Act on August 16, 2022, during a ceremony at the White House (Ngan, 2022). Since its passage, the bill has spurred significant investment in clean energy projects, with 270 new initiatives and a total investment of $130 billion (Bank of America, as cited in RegularArticle-QuoteInBody-2). This has …
Goldman Sachs CEO David Solomon attended the Goldman Sachs Financial Services Conference in New York on December 6, 2022. Image Source: Michael Nagle | Bloomberg | Getty Images Goldman Sachs is set to release its second-quarter earnings before the market opens on Wednesday. Here’s what Wall Street is anticipating: Earnings: $3.18 per share, according to …
Pedestrians pass by a sign outside a Charles Schwab office in San Francisco, April 17, 2023. Justin Sullivan | Getty Images Explore the latest developments in the stock market during midday trading. Morgan Stanley — The bank led by James Gorman saw its shares surge over 6% after surpassing analysts’ expectations with its second-quarter earnings …
Here are the most crucial news items to kickstart investors’ trading day: 1. Dow Continues Impressive Rally 2. Bank Earnings Take Center Stage 3. Goldman Sachs Lowers Probability of Recession Goldman Sachs has reduced the chances of a recession in the near future in the United States, according to a report from the investment bank. …
Brian Moynihan, CEO of Bank of America Corp., testified before the Senate Banking, Housing and Urban Affairs Committee in Washington, D.C., on September 22, 2022. Image Source: Al Drago | Bloomberg | Getty Images Bank of America released its second-quarter earnings today before the opening bell. Here is how the company’s earnings compared with the …
People walk past the New York Stock Exchange (NYSE) on July 12, 2023 in New York City. Spencer Platt | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter …