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Bitcoin tumbles, a stablecoin plunges in wild week in crypto

NEW YORK (AP) — It’s been a wild week in crypto, even by crypto standards. Bitcoin tumbled, stablecoins were anything but stable and one of the crypto industry's highest-profile comp...

Fed: Inflation, Ukraine biggest threats to financial system

NEW YORK (AP) — The Federal Reserve said Monday that Russia's war in Ukraine and surging inflation are now the greatest threats facing the global financial system, supplanting the coronavirus pandemic...

Anti-discriminatory bank law getting update for modern era

NEW YORK (AP) — The three major U.S. banking regulators said Thursday they a plan to rewrite much of the outdated regulations tied to a decades-old banking law designed to encourage lending to the poo...

Despite payment, investors brace for Russia to default

NEW YORK (AP) — Prices for Russian credit default swaps — insurance contracts that protect an investor against a default — plunged sharply overnight after Moscow used its precious foreign currency res...

Russia makes last-minute bond payment to avoid default

NEW YORK (AP) — Russia staved off a default on its debt Friday by making a last-minute payment using its precious dollar reserves sitting outside the country, U.S. Treasury officials said. ...

Visa's 2Q profits jump 21% as pandemic eases across globe

NEW YORK (AP) — Payment processing giant Visa's profits rose 21% in the first three months of the year fueled by a large jump in spending on the company's namesake credit and debit card network. ...

Sanctions hit Russian economy, although Putin says otherwise

NEW YORK (AP) — Nearly two months into the Russian-Ukraine war, the Kremlin has taken extraordinary steps to blunt an economic counteroffensive from the West. While Russia can claim some symboli...

American Express profits fall slightly, but spending jumps

NEW YORK (AP) — American Express' first-quarter profits fell roughly 6% from a year earlier, but the company saw a 30% jump in spending on its namesake cards in the quarter as its cardmembers returned...

Bank of America Q1 profits fall 12%, much less than rivals

NEW YORK (AP) — Bank of America posted a 12% decline in first-quarter profits from a year earlier, a decline that was much less than the ones its rivals had reported the previous week. The nation's se...

Big bank profits decline as deal-making, mortgages slow

NEW YORK (AP) — Four big banks reported noticeable declines in their first-quarter profits Thursday, as the volatile markets and war in Ukraine caused deal-making to dry up while a slowdown in the hou...

JPMorgan profits drop 42%, bank writes down Russian assets

NEW YORK (AP) — JPMorgan Chase said its first quarter profits dropped by 42% from last year, partly because the bank wrote down nearly $1.5 billion in assets due to higher inflation and Russia's war i...

CFPB sues TransUnion for violating previous agreement

NEW YORK (AP) — The Consumer Financial Protection Bureau is suingTransUnion and one of its long-time executives alleging that the credit company completely “disregarded” a previous order from five yea...

Russia to pay bonds in rubles, which may cause default

NEW YORK (AP) — Russia said Wednesday that it made a debt payment in rubles this week, a move that may not be accepted by Russia’s foreign debt holders and could put the country on a path to an histor...

JPMorgan's Dimon warns of myriad issues for economy, bank

NEW YORK (AP) — Jamie Dimon laid out a laundry list of big risks looming for the global and U.S. economy in his letter to JPMorgan Chase shareholders on Monday, Dimon’s annual lett...

Russia's ruble rebound raises questions of sanctions' impact

WASHINGTON (AP) — The ruble is no longer rubble. The Russian ruble by Wednesday had bounced back from the fall it took after the U.S. and European allies moved to bury the Russian e...