(Reuters) -The U.S. Consumer Financial Protection Bureau has closed an oversight agreement with Bank of America tied to allegations that the lender submitted inaccurate mortgage data, according to a filing dated earlier this month. The move ends the consumer watchdog’s monitoring of the lender more than three years ahead of schedule. In November 2023, BofA …
US CFPB ends monitoring of BofA over mortgage reporting case Read More »
By Rodrigo Campos NEW YORK (Reuters) -Holders of Argentina’s 1.5 billion-euro-denominated GDP warrants filed on Monday for U.S. courts to recognize English court judgments that hold Argentina liable for that debt, ramping up the heat as Argentina reforms open a path toward capital market access. Hedge funds holding around 48% of the output-linked securities issued …
Argentina creditors seek US nod for British court win over GDP-linked warrants Read More »
By Scott DiSavino and Laila Kearney NEW YORK (Reuters) -U.S. grid operators on Monday directed power plants to maximize their output as wholesale electricity prices skyrocketed during a dangerous heat wave afflicting the eastern half of the country. When homes and businesses crank up energy-intensive air conditioners, the risk of power outages increases in extremely …
US electric grids brace for scorching heat as energy prices surge Read More »
By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Vice Chair for Supervision Michelle Bowman, recently tapped by President Trump as the U.S. central bank’s top bank overseer, said Monday the time to cut interest rates is getting nearer as risks to the job market may be on the rise. “It is time to consider …
Fed’s Bowman open to cutting rates at July policy meeting Read More »
By Harshita Mary Varghese (Reuters) -T-Mobile will introduce a data service on its satellite-to-cell network, powered by SpaceX’s Starlink, at the start of October, the company’s head of marketing, strategy and products said during a live event in Bellevue. Over 1.8 million customers have signed up for the service since its beta program launch at …
T-Mobile to launch data service on satellite-based network in October Read More »
By Jonathan Stempel NEW YORK (Reuters) -Visa defeated a proposed class action lawsuit on Monday by consumers who accused the world’s largest card payments network of failing to warn that its prepaid “Vanilla” gift cards were susceptible to being drained by thieves. U.S. District Judge Gregory Woods in Manhattan said it was unreasonable for consumers …
Visa defeats lawsuit over ‘card draining’ Vanilla gift card scam Read More »
By Jody Godoy (Reuters) -Omnicom’s $13.5 billion acquisition of rival Interpublic can move forward on the condition the new company does not enter agreements with others to steer ad dollars toward or away from publishers based on political content, the U.S. Federal Trade Commission said on Monday. The agreement shows how FTC Chairman Andrew Ferguson …
FTC greenlights Omnicom-Interpublic deal, bars coordination over political content Read More »
By Jonathan Stempel NEW YORK (Reuters) -Compass, the largest U.S. residential real estate brokerage by sales volume, sued Zillow on Monday, accusing the nation’s largest online real estate portal of violating federal antitrust law by conspiring to restrict private home listings. In a complaint filed in Manhattan federal court, Compass said Zillow employs an “exclusionary” …
Compass sues Zillow for allegedly stifling competition for home listings Read More »
WASHINGTON (Reuters) -U.S. existing home sales unexpectedly increased in May, but the trend remained weak amid high mortgage rates. Home sales climbed 0.8% last month to a seasonally adjusted annual rate of 4.03 million units, the National Association of Realtors said on Monday. Economists polled by Reuters had forecast home resales falling to a rate …
US existing home sales rise in May; mortgage rates still a constraint Read More »
NEW YORK (Reuters) -Northern Trust is fully committed to remaining independent, the bank said on Monday, after a Wall Street Journal report said Bank of New York Mellon had approached the asset and wealth manager to express interest in a merger. “I can tell you that Northern Trust is fully committed to remaining independent and …
Northern Trust says it is fully committed to remaining independent Read More »
