Stacy Cowley
Posts
Regional Banks and Regulators Try to Soothe Depositors’ Fears
While some executives said money wasn’t being pulled from their small and midsize banks, the “too big to fail” giants attracted business customers.
Wells Fargo’s Carrie Tolstedt Pleads Guilty and Faces Prison
Carrie L. Tolstedt, who ran the bank’s retail branches, faces up to 16 months in prison for obstructing a bank examination.
Challenges to Student Loan Cancellation Reach Supreme Court
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...
Facebook Parent Plans to Sell ‘Meta Verified’ Accounts
Meta announced that it would begin charging $11.99 a month for a blue badge on Facebook and Instagram.
Rising Interest Rates Lift Profits at Bank of America and Wells Fargo
Both banks increased their reserves as protection against deteriorating economic conditions, but signaled optimism about consumer resilience.
Two Fintech Companies Fueled Extensive PPP Loan Fraud, House Report Finds
Executives at Womply and Blueacorn, which facilitated millions of Paycheck Protection Program loans, flouted rules and themselves collected improper loans, investigators said.
Zelle Fraud Victims Are in Line to Receive Reimbursements
A rule change planned for early next year would shift liability for some losses onto the banks, not their customers.
Appeals Court Blocks Biden’s Student Debt Cancellation Plan
The decision comes days after the government temporarily stopped accepting applications for the debt relief because of legal challenges.
Texas Judge Strikes Down Biden’s Student Debt Cancellation
The ruling adds to the legal obstacles the president faces in his plan to cancel up to $20,000 per borrower in federal student loan debt.
Education Department Expands Student Loan Relief Programs
A lengthy set of rule changes will reduce the total cost for many federal student loan borrowers and ease rules for debt elimination.