Consumer banking

A home for sale with a "Sold" sign attached is viewed Monday, Oct. 12, 2020, in Miami Beach, Fla. U.S. long-term mortgage rates remained at record lows this week as the coronavirus pandemic continues to threaten the economy. (AP Photo/Wilfredo Lee)
November 25, 2020 - 5:33 pm
WASHINGTON (AP) — U.S. long-term mortgage rates remained at record lows this week as the coronavirus pandemic continues to threaten the economy. Mortgage finance giant Freddie Mac reported Wednesday that the average rate on the 30-year fixed-rate home loan was unchanged this week from a record low...
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October 13, 2020 - 8:40 am
NEW YORK (AP) — Citigroup says profit fell 34% in the third quarter due to weakness in its consumer banking division. The New York-based bank said Tuesday that third-quarter net income fell to $3.23 billion from $4.91 billion in the year ago quarter. Per share earnings for the latest quarter were $...
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A woman walks past a personal finance loan office Thursday, Oct. 1, 2020, in Franklin, Tenn. U.S. consumers cut back on their borrowing in August, with credit card use dropping for a sixth straight month, reflecting caution in the midst of the pandemic-triggered recession. The Federal Reserve said Wednesday, Oct. 7, that total borrowing fell by $7.2 billion after a gain of $14.7 billion in July. (AP Photo/Mark Humphrey)
October 07, 2020 - 5:41 pm
WASHINGTON (AP) — U.S. consumers cut back on their borrowing in August, with credit card use dropping for a sixth straight month, reflecting caution in the midst of the pandemic-triggered recession. The Federal Reserve said Wednesday that total borrowing fell by $7.2 billion after a gain of $14.7...
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FILE - This Monday, April 27, 2020, file photo shows a sale pending sign on a home in Mount Lebanon, Pa. The coronavirus pandemic helped shape the housing market by influencing everything from the direction of mortgage rates to the inventory of homes on the market to the types of homes in demand and the desired locations. (AP Photo/Gene J. Puskar, File)
August 21, 2020 - 2:24 pm
SILVER SPRING, Md. (AP) — Spurred by ultra-low mortgage rates, home buyers rushed last month to snap up a limited supply of existing houses, causing the pace of purchases to jump by a record-high 24.7%. The July surge in sales reported Friday by the National Association of Realtors marked the...
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FILE - In this Jan. 2, 2019, file photo, women peer in the front door of Lord & Taylor's flagship Fifth Avenue store which closed for good in New York. New York landmark retailer Lord & Taylor has filed for bankruptcy, joining a growing list of retailers flummoxed by the pandemic. (AP Photo/Kathy Willens, File)
August 03, 2020 - 4:19 am
NEW YORK (AP) — Lord & Taylor, one of America's oldest department stores, has filed for bankruptcy, joining a growing list of stores slammed by the coronavirus pandemic. Tailored Brands, the parent company of Men's Wearhouse and Jos. A. Banks, filed for bankruptcy as well. Many of the companies...
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FILE This April 16, 2020 photo shows a real estate company sign marking a home for sale in Harmony, Pa. U.S. homeowners are seizing on historically low mortgage rates to refinance their mortgages. Refinancing is outpacing home purchase loans as job losses and economic uncertainty put off would-be buyers. (AP Photo/Keith Srakocic)
July 16, 2020 - 4:26 pm
LOS ANGELES (AP) — With the 30-year mortgage rate falling this week below 3% for the first time in a half-century, more U.S. homeowners are likely to seize the chance to refinance their home loans. Americans refinanced nearly 2 million home loans from January through April, more than double the...
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FILE - In this Oct. 14, 2019, file photo a Bank of America logo is attached to the exterior of the Bank of America Financial Center building in Boston. The Federal Reserve said on Thursday, June 25, 2020, a worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause nation’s 34 largest banks to collectively lose roughly $700 billion. To bolster the banks ahead such a potentially damaging recession, the Fed ordered the banks to suspend stock buybacks and dividend payouts until Sept. 30. (AP Photo/Steven Senne)
July 16, 2020 - 8:05 am
NEW YORK (AP) — Bank of America's second quarter profits were sawed in half and the consumer banking giant set aside billions of dollars to cover potentially bad loans caused by the pandemic. Bank earnings this quarter have begun to paint a picture of American families and businesses struggling to...
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July 15, 2020 - 12:42 pm
NEW YORK (AP) — Investment bank Goldman Sachs posted a massive 41% rise in revenues in the second quarter, the bank said Wednesday, helped by a blowout performance by the bank’s trading desks. The New York-based bank had second quarter revenues of $13.3 billion, which is up from $9.46 billion in...
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A hospital staff walks past rows of beds at a makeshift COVID-19 care center at an indoor sports stadium in New Delhi, India, Wednesday, July 8, 2020. India has overtaken Russia to become the third worst-affected nation by the coronavirus pandemic. (AP Photo/Altaf Qadri)
July 08, 2020 - 10:09 am
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to the national and global response, the work place and the spread of the virus. ________________________ TRAVEL: Choice Hotels is confident that its...
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A woman looks through an art installation of Rattana Sudjarit at the Bangkok Art and Cultural Center in Bangkok, Thailand, Tuesday, June 23, 2020. Daily life in the capital is resuming to normal as the Thai government continues to ease restrictions related to running business and activities that were imposed weeks ago to combat the spread of COVID-19. (AP Photo/ Gemunu Amarasinghe)
June 23, 2020 - 10:48 am
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Tuesday related to the national and global response, the work place and the spread of the virus. ________________________ TRAVEL & LEISURE: Travel is resuming slowly with...
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