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Bank of America Hit With $12 Million Fine for Submitting Inaccurate Mortgage Information

The U.S. Consumer Financial Protection Bureau (CFPB) announced on Tuesday that Bank of America accepted to pay a $12 million fine for submitting inaccurate information about its mortgage applicants. According to CFPB, Bank of America loan officers failed to ask applicants routine questions about certain...

Moody’s Lowers U.S. Credit Rating to Negative

Ratings agency Moody's decided to lower its outlook on the U.S. credit rating from "stable" to "negative" as federal spending contributes to a larger fiscal deficit. A rise in government spending rocked investors' confidence, leading to a government bond selloff that took their prices...

U.S. Job Growth Expected to Halt, Impacting Fed Decision

Government data has shown that U.S. job growth is slowing, pushing Federal Reserve policymakers to reassess their monetary policy. Payrolls in the US rose by 190,000 in October, showing that jobs are still on the rise but at a decreasing rate compared to the...

Latest Data Expected to Show Continued U.S. Economic Strength

An influx of incoming economic data is expected to show that the U.S. economy remains strong despite recession concerns. Considering that the economy grew at its fastest rate in the third quarter in nearly two years, this is posing a challenge for the Federal...

September Jobs Report Expected to Show Slowing Growth

Analysts are expecting the September jobs report to show that job growth in the U.S. has continued to slow over the past month. The Bureau of Labor Statistics is set to release its report on Friday morning. Consensus estimates compiled by Bloomberg indicate that the...

U.S. Treasury Secretary Confirms That U.S. Economy is Not Facing Downturn

U.S. Treasury Secretary Janet Yellen confirmed on Monday that she has not seen any evidence of a U.S. economic downturn. Still, she warned that economic momentum remains reliant on the government's ability to pass legislation to support the world's biggest economy. "I don't see any signs...