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Banking & Finance

The latest coverage of the banking and financial sectors.

In this March 26, 2015, file photo, Consumer Financial Protection Bureau Director Richard Cordray speaks during a panel discussion in Richmond, Va. (AP Photo/Steve Helber, File)

Trump renews pledge to curb Dodd-Frank financial regulations

By Dave Boyer - The Washington Times

President Trump reiterated his intention Monday to ease financial regulations imposed by Washington in 2010, saying he plans to "do a big number" soon on the Dodd-Frank law. Published January 30, 2017

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President Donald Trump speaks during a meeting with retail industry leaders in the Roosevelt Room of the White House in Washington, Wednesday, Feb. 15, 2017. From left are, Trump, Jo-Ann Craft Stores CEO Jill Soltau, Gap Inc. CEO Art Peck, and Jeremy Katz, an adviser to National Economic Council Director Gary Cohn. (AP Photo/Evan Vucci)

Trump tells retail executives tax cuts are coming soon

- The Washington Times

Brushing aside questions about his advisers' connections to Russia, President Trump told retail executives Wednesday that he's concentrating on cutting taxes and regulations to create more jobs for the middle class and stronger business growth.

Health and Human Services Secretary-designate, Rep. Tom Price, R-Ga., right, accompanied by Sen. Johnny Isakson, R-Ga., pauses while testifying on Capitol Hill in Washington, Tuesday, Jan. 24, 2017, at his confirmation hearing before the Senate Finance Committee. (AP Photo/Andrew Harnik)

Senate GOP suspends rules, advances Trump picks without Democrats

- The Washington Times

Republicans who lead a key Senate panel suspended their own rules Wednesday and advanced President Trump's picks to lead the Treasury and Health and Human Services departments unilaterally, saying they had no choice after Democrats boycotted committee votes for a second day in a row.

Trump signs order to cut red tape for businesses

- The Washington Times

Billed by the White House as the most ambitious attack on red tape since the Reagan era, President Trump signed an executive order Monday aimed at cutting business regulations and capping the total cost of new rules that each government agency can impose annually.

Lockheed Martin CEO Marillyn Hewson gave her "personal commitment" to driving down the price of the F-35 fighter jet after President-elect Donald Trump tweeted about going to competitor Boeing. (Associated Press)

Loud and clear: Businesses heeding Donald Trump's message

- The Washington Times

Despite opposition from his own troops in Congress, President-elect Donald Trump on Wednesday reaffirmed his vow to slap a "border tax" on companies that move jobs outside the U.S. -- further putting the business community on notice that things will change when he is in the White House.

People fill out job applications at a job fair, in Miami Lakes, Fla., in this In a  July 19, 2016, file photo. (AP Photo/Lynne Sladky, File)

U.S. adds 156K jobs; unemployment rate ticks up to 4.7 percent

- Associated Press

U.S. employers added 156,000 jobs in December, capping a year of slower but solid hiring. The report is the last major snapshot of the economy President-elect Donald Trump will inherit from President Barack Obama.

FILE - In this Thursday, Nov. 17, 2016, file photo, Federal Reserve Chair Janet Yellen testifies on Capitol Hill in Washington, before the Joint Economic Committee. A full year after the Federal Reserve raised a key interest rate for the first time in nearly a decade, it is widely expected that they are finally ready to raise rates again at their final meeting of 2016. But the real anticipation revolves around how the central bank plans to respond to the political tsunami that voters have delivered with the election of Donald Trump. (AP Photo/Susan Walsh, File)

Fed raises key interest rate for first time in year

- Associated Press

The Federal Reserve is raising a key interest rate for the first time in a year, reflecting a resilient U.S. economy and expectations of higher inflation. The move will mean modestly higher rates on some loans.

In this Friday, Nov. 25, 2016, file photo, Eric Denker and his wife, Jalen Denker, of Irvine, take advantage of sales to buy suits for business school interviews at South Coast Plaza in Costa Mesa, Calif. On Friday, Dec. 2, 2016, the U.S. government issues the November jobs report. (Jeff Gritchen/The Orange County Register via AP, File)

U.S. employers add 178K jobs as unemployment sinks to 4.6 percent

- Associated Press

U.S. employers added a solid 178,000 jobs in November, reflecting the steady economy President-elect Donald Trump will inherit. And the unemployment rate hit a nine-year low of 4.6 percent, though mainly because many people stopped looking for jobs and were no longer counted as unemployed.

Trader Tommy Kalikas, right, works on the floor of the New York Stock Exchange, Monday, Nov. 21, 2016. U.S. stocks are rising in early trading as the price of oil jumps and energy companies move higher, keeping indexes at record highs. (AP Photo/Richard Drew)

Dow hovering slightly below 19,000; consumer companies lead U.S. stocks to new records

- Associated Press

U.S. stocks are rising Tuesday morning after most major indexes closed at record highs the day before. Food producers Campbell Soup and Hormel are trading higher after they reported strong quarterly results, and discount store chains Dollar Tree and Burlington Stores are climbing after raising their forecasts.

This Sept. 13, 2014, file photo, shows the Chase bank logo in New York. On Thursday, Nov. 17, 2016, JPMorgan Chase & Co., agreed to pay $264.4 million in fines to federal authorities to settle charges that it hired friends and relatives of Chinese officials in order to gain access to banking deals in that country. (AP Photo/Frank Franklin II, File)

JPMorgan Chase to pay $264 million in Chinese bribery case

- Associated Press

JPMorgan Chase & Co. has agreed to pay $264.4 million in fines to federal authorities to settle charges that it hired friends and relatives of Chinese officials in order to gain access to banking deals in that country.

Rep. Jeb Hensarling, R-Texas. (AP Photo/Charles Dharapak, File)

Hard-liners go around GOP leadership on Ex-Im bank

- The Washington Times

Many of the same centrist Republicans who complained about conservatives stabbing the GOP in the back on congressional procedures are behind the effort to circumvent their own leaders and force a vote on the divisive Export-Import Bank.

Rep. Jeb Hensarling, R-Texas. (AP Photo/Charles Dharapak, File)

Free-market group to Republican Ex-Im Bank opponents: Thank you

- The Washington Times

A conservative group is thanking House Republicans who spurned a bid by centrist GOP members and nearly all Democrats to force a vote to revive the Export-Import Bank, an obscure credit agency that is slowly dying off amid conservative complains it handed out "corporate welfare" for far too long.

HSBC Holdings, Britain's largest bank by market value, will cut between 22,000 and 25,000 jobs around the world in an attempt to reduce costs and shift its centre of gravity back towards fast-growing Asian economies. (Associated Press)

Layoffs at world's biggest banks reflect a new business model

- The Washington Times

Buffeted by scandals, squeezed profits, new competitors and a disorienting technological revolution, some of the world's biggest banks are going on a radical diet, shedding thousands of workers and shaking up the boardroom in a bid to stay profitable and relevant in a fast-changing financial landscape.

Democrats undermine Obama on free trade

- The Washington Times

Democrats are "overwhelmingly" opposed to both fast-track trade authority and to the Asian trade deal the administration is negotiating, exposing doubts about President Obama from within his own ranks — and an ever-shrinking number of lawmakers even willing to be persuaded by him.

President Barack Obama and Vice President Joe Biden in the Oval Office during the President's Daily Economic Briefing on July 30, 2009. (White House)

Democratic titans say Obama 'screwed up' and gave rise to China's new bank

- The Washington Times

U.S. efforts to head off a new China-sponsored development bank for the booming Asia region ended in abject failure this week as organizers announced nearly four dozen countries — including some of America's closest Asian and European allies — have applied to membership, amid growing criticism of how the Obama administration handled the entire episode.

U.S. Treasury Secretary Jacob Lew, left, shakes hands with Chinese Premier Li Keqiang before a meeting at the Great Hall of the People in Beijing, China, on Monday, March 30, 2015. Lew said he pressed Chinese leaders Monday over proposed curbs on the use of foreign security products by banks and other restrictions on access to China's technology market. (AP Photo/Parker Song, Pool)

U.S. allies humiliate Obama, rush to join China's new bank

- The Washington Times

The rush to join the China's new development bank for Asia has become a stampede, with even longtime U.S. allies such as Georgia, South Korea, Australia and even Taiwan now saying they are ready to join despite the clear reservations of the Obama administration.

Sen. Elizabeth Warren, D-Mass. speaks at the International Association of Firefighters (IAFF) Legislative Conference and Presidential Forum in Washington, Monday, March 9, 2015. (AP Photo/Pablo Martinez Monsivais) ** FILE **

Elizabeth Warren hijacks Senate hearing, blasts corporate settlements

- The Washington Times

Sen. Elizabeth Warren hijacked a Senate committee hearing on recreational hunting, fishing and shooting Thursday to advance her crusade against big business, calling for new laws to expose the details of legal settlements between the government and corporations accused of wrongdoing.

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