Silicon Valley tech giants who process more than 13 billion financial transactions annually through digital wallets and payment apps will be subject to government supervision.
Read More US watchdog issues final rule to supervise Big Tech payments, digital wallets
The Federal Reserve lowered the federal funds rate for a second consecutive time on Thursday.
Read More Fed Cuts Interest Rates Again, Fed Chair Powell Says He Won’t Resign
with Dani Naveh
Read More Israel Targets Hezbollah Banks
The S&P 500 rose and the Dow hit a record high on Friday, driven by gains in major banks following third-quarter results.
Read More S&P 500, Dow rise on boost from big bank earnings
At issue is how the central bank calculates an extra layer of capital it imposes on U.S. global systemically important banks, known as the “GSIB surcharge.”
Read More Exclusive: Fed may tweak rule that could save biggest US banks billions
U.S. retail sales barely rose in May, suggesting that economic activity remained lackluster in the second quarter.
Read More US retail sales rise less than expected in May