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Tech Industry Sues CFPB Over ‘Chilling’ Effect on Digital Wallets

The Consumer Financial Protection Bureau (CFPB) is under fire from seemingly all corners, and various legal challenges have alleged that the agency’s recent ramping of its rule-making through the past few months is illustrative of a regulator that’s overstepped its bounds. ...

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VeriPark and Canadian credit unions team up on digital banking

VeriPark, an omnichannel customer experience solutions provider, has collaborated with a coalition of Canadian credit unions and financial institutions to launch a digital banking solution specifically designed for the Canadian market. This coalition comprises First West Credit...

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The stock market has never looked like this before — regardless of who’s president

As President-elect Donald Trump prepares to begin his second term in office, investors are debating how his proposed policies will play out in the stock market. While the answer may be unclear, what's evident is the remarkable position the market is...

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China keeps benchmark lending rates unchanged as it contends with a weakening yuan

China left its benchmark lending rates unchanged Monday, as Beijing contends with a weakening yuan while awaiting policy clues from the incoming Donald Trump administration. The People’s Bank of China held the 1-year loan prime rate at...

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Billionaires Are Selling Nvidia and Buying a Bitcoin ETF That Cathie Wood Thinks Could Soar Up to 3,700%

Some big institutional investors are pivoting from the AI chipmaker toward the world's top cryptocurrency. Many billionaire investors loaded up on Nvidia's (NVDA 3.10%) stock as it soared over the past few years. That wasn't surprising, since...

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Mortgage rates climb above 7% to highest level since May

Mortgage rates topped 7% this week, a key psychological threshold, in a sign of the US housing market’s unrelenting affordability challenges. The average rate on a standard, 30-year fixed mortgage was 7.04% in the week ending January...

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US manufacturing output accelerates in December

U.S. manufacturing output surged in December likely as production at Boeing picked up following the end of a crippling strike by factory workers at the aerospace giant. Factory output increased 0.6% last month after an upwardly revised...

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Vanguard to pay more than $100 million to SEC over violations involving target date retirement funds

Asset management giant Vanguard has agreed to pay more than $100 million to settle charges related to disclosures around target date investment funds, the Securities and Exchange Commission announced Friday. The alleged violations stem from a 2020 change where Vanguard lowered...

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US stocks notch first weekly gain this year before Trump’s inauguration, executive orders

Wall Street closed higher on Friday, pushing stocks to their first weekly advance this year, ahead of Donald Trump's return to the White House. President-elect Trump's inauguration is Monday, and his first days are expected to be filled with...

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Traders bet on more Bank of England rate cuts in 2025 after data shocks

LONDON — Traders bet on more Bank of England rate cuts this year after weak retail sales data added to the latest in a run of data surprises this week. Sales volumes fell 0.3% month-on-month in December,...

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