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U.S. President Joe Biden speaks during his visit to the U.S.-Mexico border in Brownsville, Texas, U.S., February 29, 2024.

Regulator proposes capping credit card late fees at $8, latest in Biden’s campaign against junk fees

AP|New York|Mar 05, 2024 - 15:44 CET

The rule would bring the average credit card late fee down from $32. The bureau estimates banks brought in roughly $14 billion in credit card late fees a year

Customers use ATMs at a Citibank branch in the Jackson Heights neighborhood of the Queens borough of New York City, U.S. October 11, 2020.

FINANCE

Bank profits mostly fall in fourth quarter, but banks remain upbeat on economy and consumer

AP|New York|Jan 12, 2024 - 17:42 CET

Citigroup announced it was going to cut 20,000 jobs, roughly 10% of its workforce as part of Citi’s restructuring

U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, December 6, 2023.

finances

CEOs of the nation’s biggest banks warn that new regulations could harm the economy

AP|New York|Dec 07, 2023 - 00:35 CET

The bankers are against a number of proposed regulations that could hit their profitability, including new rules from the Federal Reserve that would require big banks to hold additional capital on their balance sheets

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