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Banking & Finance

The latest coverage of the banking and financial sectors.

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President Bill Clinton vetoes portions of the federal budget and tax-cut law in the Oval Office of the White House Aug. 11, 1997, as Vice President Al Gore, far right, Treasury Secretary Robert Rubin and Council of Economic Advisers Chairman Janet Yellen look on. (AP Photo/Ruth Fremson, File)

Bank failures and rescue test Yellen's decades of experience

By Fatima Hussein - Associated Press
The headquarters of the German banks, Deutsche Bank, left, and Commerzbank are pictured in Frankfurt, Germany, Friday, March 17, 2023. (AP Photo/Michael Probst) ** FILE **

Deutsche Bank shares drop amid global jitters over banks

By David McHugh - Associated Press
European Central Bank President Christine Lagarde, right, speaks with Belgium's Prime Minister Alexander De Croo during a round table meeting at an EU summit in Brussels, Friday, March 24, 2023. European leaders gather Friday to discuss economic and financial challenges and banking rules, seeking to tamp down concerns about eventual risks for European consumers from banking troubles in the US and Switzerland. (AP Photo/Geert Vanden Wijngaert)

EU leaders play down bank risks as economy weakens

Associated Press
Bitcoin is for sale at an Automated Teller Machine at the Westfield Garden State Plaza shopping mall in Paramus, New Jersey, on Monday, March 13, 2023. (AP Photo/Ted Shaffrey)

Bitcoin ATMs were used to launder COVID fraud money, feds charge

By Stephen Dinan - The Washington Times
President Joe Biden speaks at the White House Conservation in Action Summit at the Department of the Interior on March 21, 2023, in Washington. Approval of Biden has dipped slightly since a month ago, nearing the lowest point of his presidency as his administration tries to project a sense of stability while confronting a pair of bank failures and inflation that remains stubbornly high. That’s according to a new poll by The Associated Press-NORC Center for Public Affairs Research, which shows there have been modest fluctuations in support for Biden over the past several months. (AP Photo/Evan Vucci, File)

Biden approval dips near lowest point: AP-NORC poll

By Josh Boak and Emily Swanson - Associated Press
People pass the front of the New York Stock Exchange in New York, on Wednesday, March 22, 2023. European shares have opened mixed after a day of gains in Asia ahead of a decision by the Federal Reserve on interest rates. (AP Photo/Peter Morgan

Fed announces quarter-point hike in key interest rate as it wrestles with inflation, bank failures

By Dave Boyer - The Washington Times
Federal Reserve Chairman Jerome Powell speaks during a House Financial Services Committee hearing to examine the Semiannual Monetary Policy Report to Congress, Wednesday, March 8, 2023, on Capitol Hill in Washington. (AP Photo/Jose Luis Magana)

Fed facing a blurrier outlook as it meets to weigh rate hike

By Christopher Rugaber - Associated Press
Speaker of the House Kevin McCarthy, R-Calif., holds a ceremony to nullify the D.C. crime bill, at the Capitol in Washington, March 10, 2023. Republicans and Democrats have been dancing around each other about the need to raise the government's legal borrowing authority. President Joe Biden tried to edge closer on Thursday, March 9, by releasing his budget plan that cuts deficits by $2.9 trillion over 10 years, an offer that House Speaker Kevin McCarthy, R-Calif, quickly dismissed as woefully insufficient. (AP Photo/J. Scott Applewhite, File)

Speaker McCarthy readies GOP demands for debt ceiling battle with Biden

By Susan Ferrechio - The Washington Times
The mobile phone icon for the Coinbase app is shown in this photo, in New York, Tuesday, April 13, 2021. Cryptocurrency trading platform Coinbase has lost half its value in the past week, including its biggest one-day drop ever on Wednesday, May 11, 2022, as the famously volatile crypto market weathers yet another slump. (AP Photo/Richard Drew, File)

Supreme Court hears dispute between Coinbase, ex-users over cryptocurrency losses

By Alex Swoyer - The Washington Times
Treasury Secretary Janet Yellen speaks to the American Bankers Association, Tuesday, March 21, 2023, in Washington. (AP Photo/Manuel Balce Ceneta)

Mystery unsolved: Yellen, admin still baffled by historic bank collapses

By Dave Boyer - The Washington Times
A real estate sign is posted outside of a recently sold home, Tuesday, Feb. 21, 2023, in Valrico, Fla. (AP Photo/Phelan M. Ebenhack) ** FILE **

U.S. home sales surged in February as mortgage rates dipped

By Alex Veiga - Associated Press
Treasury Secretary Janet Yellen testifies before the Senate Finance Committee about President Joe Biden's proposed budget request for the fiscal year 2024, Thursday, March 16, 2023, on Capitol Hill in Washington. (AP Photo/Jacquelyn Martin) ** FILE **

Yellen says U.S. banks 'stabilizing' after emergency actions by Treasury, regulators

By Dave Boyer - The Washington Times
The Silicon Valley Bank logo is seen at an open branch in Pasadena, Calif., on March 13, 2023. (AP Photo/Damian Dovarganes, File)

Army of lobbyists helped water down banking regulations

By Brian Slodysko and Ken Sweet - Associated Press
Sen. Mark Warner, D-Va., chair of the Senate Intelligence Committee, pauses to speak with reporters at the Capitol in Washington, Nov. 10, 2022. Members of the Senate intelligence committee say they should have access to classified documents that were discovered in the homes of President Joe Biden, former President Donald Trump and former Vice President Mike Pence.(AP Photo/J. Scott Applewhite, File)

Sen. Mark Warner defends campaign donations from failed bank, while stocks rebound

By Joseph Clark and Dave Boyer - The Washington Times
Sen. Mark Warner, D-Va., chair of the Senate Intelligence Committee, speaks with reporters as lawmakers and intelligence advisers arrive for a closed briefing on the Chinese surveillance balloon that flew over the United States recently, at the Capitol in Washington, Thursday, Feb. 9, 2023. (AP Photo/J. Scott Applewhite)

Sen. Warner downplays SVB campaign donations, says bank failure likely not caused by lax regulations

By Joseph Clark - The Washington Times
Credit Suisse Chairman Axel Lehmann speaks during a press conference in Bern, Switzerland, Sunday, March 19, 2023. Banking giant UBS is acquiring its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday. Sunday’s news conference by the Federal Council, the seven-member governing body that includes Berset, follows the collapse of two large U.S. banks last week that spurred a frantic, broad response from the U.S. government to prevent any further bank panics. (Peter Klaunzer/Keystone via AP)

Credit Suisse, UBS shares plunge after takeover announcement

By Jamey Keaten and Ken Sweet - Associated Press
Axel Lehmann, Chairman Credit Suisse, left, sits beside Colm Kelleher, Chairman UBS, during a press conference in Bern, Switzerland, Sunday March 19, 2023. Banking giant UBS is acquiring its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday. Sundays news conference by the Federal Council, the seven-member governing body that includes Berset, follows the collapse of two large U.S. banks last week that spurred a frantic, broad response from the U.S. government to prevent any further bank panics. (Peter Klaunzer/Keystone via AP)

UBS buying rival Credit Suisse in effort to avoid further turmoil in global banking

By Jamey Keaten and Ken Sweet - Associated Press
Customers and bystanders form a line outside a Silicon Valley Bank branch location, Monday, March 13, 2023, in Wellesley, Mass. SVB Financial Group is filing for Chapter 11 bankruptcy protection, Friday, March 17. SVB Financial Group is no longer affiliated with Silicon Valley Bank or the bank’s private banking and wealth management business, SVB Private. SVB Financial Group ran Silicon Valley Bank up until it was seized last Friday. (AP Photo/Steven Senne, File)

Nearly 200 banks teeter as Fed seeks inflation balance; rate hike risks more insolvency

By Dave Boyer - The Washington Times
Treasury Secretary Janet Yellen arrives in the Dirksen Senate Office Building, Thursday, March 16, 2023, on Capitol Hill in Washington. (AP Photo/Mariam Zuhaib)

Yellen says Chinese customers of failed Silicon Valley Bank will get money from U.S. fund

By Dave Boyer - The Washington Times
A television screen displaying financial news is seen inside one of First Republic Bank's branches in the Financial District of Manhattan, Thursday, March 16, 2023. The S&P 500 was 0.8% higher in midday trading after erasing an earlier loss of nearly that much following reports that First Republic Bank could receive financial assistance or sell itself to another bank. (AP Photo/Mary Altaffer)

Big banks create $30B rescue package for First Republic

By Ken Sweet - Associated Press
State Rep. Debra Bazemore, D-South Fulton, left, embraces Rep. Karla Drenner, D-Avondale Estates, who was the first openly gay member of the Georgia legislature, after Drenner spoke against SB 140 at the House of Representatives in Atlanta, Thursday, March 16, 2023. SB 140 limits treatment for transgender youth. (Arvin Temkar/Atlanta Journal-Constitution via AP)

Georgia House OKs ban on some transgender healthcare for kids

By Jeff Amy - Associated Press
FILE - Residents from various communities in mostly rural northeastern Connecticut protest Day Kimball Healthcare's plans to affiliate with Covenant Healthcare, outside Day Kimball Hospital on July 18, 2022, in Putnam, Conn. Convenant Health withdrew its application on Friday, March 10, 2023, to affiliate with Day Kimball Healthcare, an independent, financially struggling hospital and health care system in northeastern Connecticut. (AP Photo/Susan Haigh, File)

Catholic-run health system pulls out of Connecticut hospital merger

Associated Press

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