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Banking & Finance

The latest coverage of the banking and financial sectors.

Former Secretary of State Hillary Rodham Clinton appears at a get-out-the-vote rally in support for Democratic Sen. Al Franken and Minnesota Democratic Gov. Mark Dayton at Macalester College in St. Paul, Minn., Thursday, Oct. 23, 2014. (AP Photo/Ann Heisenfelt)

Hillary Clinton shifts to shed pro-Wall Street reputation

By Cheryl K. Chumley - The Washington Times

Former Secretary of State Hillary Clinton took yet another subtle step toward the White House in 2016 by swiping at the very thing those in the progressive camp of her party accuse her of cozying up to — Wall Street. Published October 24, 2014

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In this photo taken Oct. 11, 2014, an abandoned home in Kenton, Ohio. Long seen as having devastated Sun Belt cities, the subprime mortgage crisis unleashed turmoil on Ohio and other rural areas. Now federal officials are pledging regulatory attention and financial help. Subprime loans were distributed in the rural U.S. at even higher rates on average than in metropolitan counties. Much of it was concentrated in Appalachia and other areas stretching from Ohio, West Virginia and Kentucky to Mississippi, Louisiana, Texas and the Great Plains, according to government data provided to The Associated Press by researchers at the U.S. Department of Agriculture and Middlebury College.  (AP Photo/Jay LaPrete)

Enticing low rates, but impact could be limited

- Associated Press

With mortgage rates sliding for a fifth straight week, the possibility of locking in a rate below 4 percent is tempting for consumers and could unleash a wave of refinancing. It may even convince some Americans to buy their first home.

Consumer Financial Protection Bureau Director Richard Cordray

New rules adopted in hopes of spurring home loans

- Associated Press

Banks will get a break in easier rules for packaging and selling mortgage securities and fewer borrowers will have to make hefty down payments under actions taken by federal regulators.

FILE - In this Tuesday, Dec. 27, 2011 file photo, pedestrians pass a Kmart store location in New York. On Friday, Oct. 10, 2014, Sears Holdings Corp. announced that it detected a data breach at its Kmart stores that started in August 2014, affecting certain customers' credit and debit card accounts. The data theft at Kmart is the latest in a string of data thefts that have hit several big retailers, including Target, Supervalu and Home Depot. (AP Photo/Frank Franklin II)

Obama launches initiative to cut identity theft

- The Washington Times

Calling identity theft a "heartbreaking" crime that robs Americans of their financial security, President Obama on Friday signed an executive order to put in place new protections for consumers who receive government benefits.

FILE - In this Thursday, Oct. 16, 2014, file photo, Federal Reserve Chairman Janet Yellen speaks with staff during a visit to the office of CONNECT, a coalition of local organizations that provides employment services in Chelsea, Mass. Yellen said Friday, Oct. 17, 2014, that the last several decades have seen the most sustained rise in income inequality in a century. (AP Photo/Michael Dwyer, File)

Yellen says US experiencing widening inequality

- Associated Press

Federal Reserve Chair Janet Yellen said Friday that the last several decades have seen the most sustained rise in income inequality in a century.

Oil pumps work at sunset in the desert oil fields of Sakhir, Bahrain, Tuesday, Oct. 14, 2014. The price of oil suffered its biggest drop in nearly two years after the International Energy Agency reduced its forecast for demand for this year and next. Benchmark U.S. crude fell $3.90, or 4.5 percent, to close at $81.84 a barrel on the New York Mercantile Exchange. That was the biggest decline since November 2012. The closing price is the lowest since June 2012.  (AP Photo/Hasan Jamali)

Falling oil prices shake up global economies

- Associated Press

A sudden plunge in the price of oil is sending economic and political shockwaves around the world. Oil exporting countries are bracing for potentially crippling budget shortfalls and importing nations are benefiting from the lowest prices in four years.

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