Money, Wealth & Power—A Daily Look at the Financial World
JPMorgan Chase has acknowledged in a federal court filing that it shut accounts tied to Donald Trump weeks after the January 6 attack on the U.S. Capitol, a rare written admission about how it handled one of its most controversial clients. The disclosure arrives as Trump pursues a $5 billion lawsuit accusing the bank of…
Donald Trump’s $5 billion lawsuit against JPMorgan Chase turns a long-running fight over “debanking” into a direct clash between a former president and the country’s largest bank. At issue is whether a bank can legally close accounts because it fears reputational or compliance risk, or whether that kind of move can cross the line into…
Trump Accounts are about to become a fixture in family finance conversations, promising tax breaks and federal seed money in exchange for strict rules on how and when children can touch the cash. For parents, the opportunity is real, but so are the trade offs, from early withdrawal penalties to the risk of locking up…
Corporate America is racing to align itself with President Donald Trump’s signature “Trump Accounts” program, even as civil rights advocates and some shareholders warn that the rush looks less like civic-minded generosity and more like political capitulation. Banking giants, tech platforms and blue-chip manufacturers are pledging billions in matching funds and policy concessions after a…
An 86-year-old New Yorker who spent a lifetime building a nest egg says it vanished in a matter of weeks, siphoned away through a sophisticated scam that her family insists should never have gotten past the banks. After losing $700,000 that she believed was being moved for her own protection, the NYC grandmother is now…
An elderly Texas grandmother who thought she had lost nearly all her savings to fraud has forced a rare about-face from one of the country’s biggest banks. After weeks of refusing to reimburse her, Wells Fargo returned roughly $15,000 to the 83-year-old only after television cameras and national coverage put a spotlight on her case….
President Donald Trump is escalating his long‑running feud with major institutions by vowing to sue JPMorgan Chase for what he describes as politically motivated “debanking” after the January 6 attack on the U.S. Capitol. He is casting the threatened case as a test of whether powerful financial firms can quietly cut off access to money…
President Donald Trump is escalating his long running feud with major financial institutions, promising to take JPMorgan Chase to court within two weeks over what he describes as politically motivated “debanking” after the January 6 attack. He is framing the threatened lawsuit as a test of whether a sitting president can be cut off from…
When a bank decides your account looks suspicious, the impact is immediate and personal: debit cards can stop working, online access can vanish and, in some cases, the relationship with your bank ends overnight. Behind that disruption is a compliance machine that treats you less like a customer and more like a potential risk. Understanding…
Wells Fargo has agreed to pay $33 million to resolve a class action lawsuit accusing the bank of helping shady “free trial” marketers lock customers into recurring subscription charges. The deal could send cash payments to people across the United States who were enrolled in billing plans they never clearly agreed to. Understanding who qualifies,…