The report estimates that the plan will slash borrowers’ payments and cost more than President Biden’s recently rejected debt cancellation plan.

One of the nation’s largest banks reported across-the-board strength in its latest quarter, with sales and earnings that surpassed analysts’ expectations.

One-time credits will wipe out loans, fixing mistakes made by loan servicers when collecting payments under income-driven repayment programs.

The U.S. economy “continues to perform better than many had expected,” said Charlie Scharf, the bank’s chief executive, but “there will likely be continued economic...

The bank’s rivals appear on firmer footing this time, in contrast with the widespread panic after the failures of Silicon Valley Bank and Signature Bank...

While some executives said money wasn’t being pulled from their small and midsize banks, the “too big to fail” giants attracted business customers.

Carrie L. Tolstedt, who ran the bank’s retail branches, faces up to 16 months in prison for obstructing a bank examination.

Justices will hear arguments Tuesday on President Biden’s plan to forgive an estimated $400 billion in debt. Conservative states have called it an abuse of...

Meta announced that it would begin charging $11.99 a month for a blue badge on Facebook and Instagram.

Both banks increased their reserves as protection against deteriorating economic conditions, but signaled optimism about consumer resilience.