Lawmakers slam big bank CEOs for failure to increase interest rates on savings

Congressional lawmakers slammed US bankers this week for not raising interest rates on savings accounts held by everyday consumers despite a series of major increases in the federal funds rate by the Federal Reserve. Interest rate increases by the Fed make it more expensive for banks and other financial institutions to borrow money from each … Read more

Bank of America CEO blasts White House’s ‘recession’ semantics

Bank of America CEO Brian Moynihan slammed the Biden administration over its fixation about whether or not we are in an economic recession. Moynihan, the leader of one of the largest financial institutions in the world, said regardless of the semantic games from The White House, the current economy is causing a real financial burden … Read more