Global policymakers will have to overcome a trio of hurdles if the world economy is to successfully generate more rapid and sustainable growth, IMF Managing Director Christine Lagarde said. She told a media briefing at the start of the IMF-World Bank Spring Meetings in Washington D.C. that the overriding topic at the Meetings will be […]
Today we’re fining Bank of America, N.A. and FIA Card Services, N.A. for unfairly billing consumers for services relating to identity theft protection “add-on” products and for using deceptive marketing and sales practices for credit protection “add-on” products. We are also ordering Bank of America to refund fees and provide other redress to consumers. Approximately […]
Atlanta and New York, – First Data and MasterCard today announced an agreement in which First Data’s STAR® Network will participate in MasterCard’s common U.S. Debit EMV solution. This agreement, combined with other recent industry announcements, provides a cost-effective solution and accelerates the ability for EMV functionality to be implemented across the U.S. EMV/ chip […]
WASHINGTON, World Bank Group President Jim Yong Kim today announced a series of measures aimed at strengthening the World Bank Group to better meet the evolving needs of clients, including a $100 billion increase in the lending capacity of the Bank’s lending arm for middle-income countries over the next decade, new innovations in financial management, […]
Universal Studios and American Express today announced an expanded multi-year agreement that brings the strength of Universal’s theme parks and filmed entertainment together with the premier brand of American Express to create exclusive consumer benefits and experiences. The agreement also enables American Express, for the first time, to acquire new Card Members directly through Universal […]
Washington, D.C. – The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, today announced it has reached a settlement in cases involving Bank of America, Countrywide Financial, Merrill Lynch, and certain named individuals totaling approximately $5.83 billion. Bank of America Corporation owns Countrywide and Merrill Lynch. The cases alleged violations […]
Merrill Lynch Wealth Management is teaming up with France’s EDHEC Business School to develop new research on risk allocation and goals based investing, the organizations announced today. The initiative involves the pursuit of fundamental research on risk allocation and goals-based wealth management through a collaboration between Merrill Lynch’s Investment Management and Guidance group and the […]
Information received since the Federal Open Market Committee met in January indicates that growth in economic activity slowed during the winter months, in part reflecting adverse weather conditions. Labor market indicators were mixed but on balance showed further improvement. The unemployment rate, however, remains elevated. Household spending and business fixed investment continued to advance, while […]
Today George Osborne, the Chancellor of the Exchequer, revealed that HM Treasury believes there is a strong case for introducing a new ÂŁ1 coin to help reduce counterfeiting and ensure the integrity of the United Kingdom’s currency. The Royal Mint has developed world-leading anti-counterfeiting technology which will enable Her Majesty’s Treasury to modernise the United […]
NEW YORK—The Federal Reserve Bank of New York today released results from its monthly Survey of Consumer Expectations (SCE) which contains insight into Americans’ views on inflation, prices, the labor market and household finance. February results show that consumer inflation expectations rose slightly in February at both the one-year and the three-year ahead horizon. Median […]
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