Banking and credit

FILE - In this Sept. 24, 2020 file photo, Federal Reserve Chair Jerome Powell, right, and Treasury Secretary Steve Mnuchin testify during the Senate's Committee on Banking, Housing, and Urban Affairs hearing examining the quarterly CARES Act report to Congress on Capitol Hill, in Washington. Mnuchin on Friday, Nov. 20 denied that he is trying to limit the choices President-elect Joe Biden will have to promote an economic recovery by ending several emergency loan programs being run by the Federal Reserve. Mnuchin said his decision was based on the fact that the programs were not being heavily utilized and the money could be better used by being re-allocated by Congress to provide support in other areas such as further grants to small businesses and extended unemployment assistance. (Toni L. Sandys/The Washington Post via AP, Pool)
November 20, 2020 - 6:18 pm
WASHINGTON (AP) — Treasury Secretary Steven Mnuchin denied on Friday that he is attempting to limit President-elect Joe Biden's options for reviving the pandemic-damaged economy by ending several emergency loan programs being run by the Federal Reserve. Mnuchin said the programs were not being...
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FILE - In this Monday, Sept. 21, 2020 file photo, Treasury Secretary Steve Mnuchin speaks during a news conference to announce the Trump administration's restoration of sanctions on Iran at the U.S. State Department in Washington. Treasury Secretary Steven Mnuchin said Thursday, Nov. 19, 2020 he will not to extend several emergency loan programs set up with the Federal Reserve to support the economy in the midst of the coronavirus pandemic.(AP Photo/Patrick Semansky, File)
November 19, 2020 - 6:45 pm
WASHINGTON (AP) — Treasury Secretary Steven Mnuchin said Thursday he will not extend several emergency loan programs set up with the Federal Reserve to support the economy in the midst of the coronavirus pandemic. The decision drew a terse rebuke from the Fed. The central bank said it “would prefer...
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FILE - In this Feb. 14, 2020, file photo, Kristalina Georgieva, Managing Director of the International Monetary Fund, attends a session on the first day of the Munich Security Conference in Munich, Germany. Georgieva said Thursday, Nov. 19, that the while the United States and other major economies turned in better-than-expected economic performances in the third quarter the world now faces slower momentum with a resurgence in coronavirus cases. (AP Photo/Jens Meyer, File)
November 19, 2020 - 12:56 pm
WASHINGTON (AP) — The head of the International Monetary Fund said Thursday that the while the United States and other major economies turned in better-than-expected economic performances in the third quarter, the world now faces slower momentum with a resurgence in coronavirus cases. IMF Managing...
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FILE - In this Feb. 13, 2020 file photo, President Donald Trump's nominee to the Federal Reserve, Judy Shelton, appears before the Senate Banking Committee for a confirmation hearing, on Capitol Hill in Washington. President Donald Trump's controversial nominee to the Federal Reserve is facing a razor-close vote in Congress. The Senate is voting Tuesday on the nomination of Judy Shelton to join the Federal Reserve's powerful board of governors. Shelton is an unusually caustic critic of the Fed and is opposed by three Republican senators. Expected absences from two other Republicans could block her from advancing in Tuesday’s vote. (AP Photo/J. Scott Applewhite, File)
November 18, 2020 - 12:05 pm
WASHINGTON (AP) — The nomination of Judy Shelton, President Donald Trump's controversial pick for the Federal Reserve, is stalled in the Senate after Vice President-elect Kamala Harris returned to the chamber to cast a key vote in a tally Tuesday. Two key Republicans were absent because of COVID-...
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FILE- In this June 14, 2018, file photo Federal Reserve Board Governor Lael Brainard participates in an open meeting in Washington. Brainard, a Federal Reserve official widely considered a front-runner to be tapped as President-elect Joe Biden's Treasury Secretary, is urging universities and government agencies to make the field of economics more inclusive. Brainard, a member of the Federal Reserve’s board of governors, noted Tuesday, Nov. 17, 2020, that the economics field is less diverse than other professions, such as law and medicine. (AP Photo/Cliff Owen, File)
November 17, 2020 - 1:51 pm
WASHINGTON (AP) — A Federal Reserve official widely considered a front-runner to be tapped as President-elect Joe Biden's Treasury Secretary is urging universities and government agencies to make the field of economics more inclusive. Lael Brainard, a member of the Federal Reserve’s board of...
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November 16, 2020 - 5:08 pm
NEW YORK (AP) — PNC Financial Services Group Inc. said Monday it is buying the U.S. subsidiary of Spain’s BBVA bank for $11.6 billion in cash. BBVA's U.S. operations, which are based in Houston, Texas, have $104 billion in assets and operate 637 branches, mainly in the south and southwest of the...
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A woman walk along a path in the Ciudad Bolivar area, south of Bogota, Colombia, Tuesday, Nov. 10, 2020. Across Latin America, the COVID-19 crisis has yielded a rare bright spot: Millions of people who were long excluded from traditional banking have joined the financial system using digital banking services. (AP Photo/Fernando Vergara)
November 13, 2020 - 9:27 am
BOGOTA, Colombia (AP) — Sonia Fierro has lived her entire adult life selling children’s books on the streets of Colombia’s capital, earning wages that barely cover her living expenses, let alone the monthly fees that come with a bank account. When the pandemic left her short on cash, she qualified...
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The buildings of the banking district are seen under a red sky before sunrise in Frankfurt, Germany, early Saturday, Nov. 7, 2020. (AP Photo/Michael Probst)
November 11, 2020 - 9:32 am
FRANKFURT, Germany (AP) — European Central Bank head Christine Lagarde warned Wednesday that the economy could face a “bumpy,” “stop-and-start” recovery despite good news about potential vaccines. The top central banker for the 19 European Union countries that use the euro currency said that...
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FILE - In this Friday, Aug. 10, 2018 file photo, Berat Albayrak, Turkey's Treasury and Finance Minister, wipes his forehead as he talks during a conference to ease investor concerns about Turkey's economic policy. Albayrak, announced his resignation on social media Sunday, Nov. 8, 2020. He said on Instagram that he was stepping down from his post for health reasons and would spend more time with his family. Albayrak, 42, was appointed minister of finance and treasury in July 2018, having previously been energy minister for nearly three years. (AP Photo/Mucahid Yapici, File)
November 09, 2020 - 3:25 pm
ANKARA, Turkey (AP) — President Recep Tayyip Erdogan has accepted the resignation of his son-in-law from the position of finance minister, the Turkish leader's office announced Monday. A statement from his office said Erdogan has accepted Berat Albayrak's request “to be excused from his duties” but...
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Afghans check car destroyed by an attached bomb in Kabul, Afghanistan,Saturday, Nov. 7, 2020.A bomb attached to the vehicle of Yama Siawash, a former presenter on Afghanistan's TOLO TV, exploded early Saturday, killing the journalist and two other civilians, Kabul police said. (AP Photo/Mariam Zuhaib)
November 07, 2020 - 2:37 am
KABUL, Afghanistan (AP) — A bomb attached to the vehicle of a former presenter on Afghanistan’s TOLO TV exploded early Saturday, killing the journalist and two other civilians, Kabul police said. The death of Yama Siawash is being investigated, said police spokesman Ferdaws Faramarz. No one has...
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