DOJ Threatens Fed with Indictment, Powell Reveals
U.S. Federal Reserve Chair Jerome Powell discloses a DOJ criminal threat. Trump comments on Iran, plus major Canadian news on transit, protests, and weather.
Category : Banking Finance
DOJ Serves Fed with Subpoenas, Powell Vows to Stand Firm
U.S. Federal Reserve Chair Jerome Powell says the central bank received grand jury subpoenas from the Justice Department, marking a dramatic escalation in tensions with the Trump administration. Read the full story.
DOJ subpoenas Federal Reserve, threatens criminal indictment
Federal Reserve Chair Jerome Powell discloses a DOJ subpoena and potential criminal charges against the central bank. Get the latest on this unprecedented legal development.
Trump's 10% Credit Card Rate Cap Plan Faces Bank Opposition
Former President Trump proposes a 1-year, 10% cap on credit card interest rates, sparking immediate backlash from major financial institutions. Explore the potential impact on consumers and lenders.
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Trump Calls for 10% Credit Card Interest Cap
Former President Donald Trump pledges a one-year cap on credit card interest rates at 10%, starting in 2026. Bipartisan legislative efforts echo the call, but specifics on enforcement remain unknown.
Bankrupt B.C. man's lavish lifestyle puzzles court
A British Columbia court is investigating how a bankrupt man maintains an extravagant lifestyle with no clear source of income. The case raises questions about financial disclosure.
Senior Bank of Canada Directors Depart as Carney Pushes Cuts
Two longtime Bank of Canada directors, Harri Vikstedt and Marc Larson, are retiring. Their departures come as Prime Minister Mark Carney drives a $60 billion savings plan, with the central bank itself cutting 10% of its staff.
Loonie Forecasts Turn Bullish on Trade Deal Optimism
Analysts are upgrading their outlook for the Canadian dollar, citing renewed optimism for a key trade agreement. Discover what this means for the economy and your finances.
Former TD employee pleads guilty to money-laundering
A former Toronto-Dominion Bank employee in New York admitted to processing over $92 million for a laundering network. This follows a massive $3.1 billion fine against TD for compliance failures.
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Scotiabank laid off 3,000 employees in restructuring
Scotiabank CEO Scott Thomson confirms 3,000 job cuts as part of a significant restructuring effort. The layoffs targeted areas with limited growth potential.
Canadian pension solvency hits record high at 132%
Canadian defined-benefit pension plans reached a record median solvency ratio of 132% in 2025, fueled by soaring stock market returns, Mercer reports. Discover the details and what it means for retirees.
Venezuela Debt Rally Hides Complex Creditor Web
The surge in Venezuelan bonds following President Maduro's capture belies a tangled legal and political fight for the country's assets. Explore the challenges ahead for creditors.
Major Saskatchewan Credit Union Merger Finalized
Conexus Credit Union has officially merged with Cornerstone and Synergy Credit Unions, creating a significant new financial entity in Saskatchewan. Discover the details and implications.
N.B. man disputes CRA order to repay COVID benefits
A New Brunswick resident is challenging the Canada Revenue Agency's claim that he must repay thousands in pandemic support. Get the details on the dispute and what it means for benefit recipients.
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Syria circulates new post-Assad currency bills
Syria begins circulating new currency notes, a significant step in its economic overhaul following the Assad era. Explore the implications and public reaction.
Surrey sues banks over $2.5M fraud by ex-employee
The City of Surrey is suing CIBC's Simplii Financial and Coast Capital Savings, alleging they failed to stop a $2.5 million fraud by a former employee. Get the full story on the legal battle.
Surrey lawsuit alleges fraud funds in CIBC, Coast Capital
The City of Surrey has launched a lawsuit alleging fraudulent funds were deposited into accounts at CIBC and Coast Capital Savings. Get the latest details on this developing financial case.
U.S. Dollar Starts 2026 Higher After Major 2025 Drop
The U.S. dollar begins 2026 with cautious gains following its most significant annual decline since 2018. Explore the factors behind the currency's volatile start to the new year.
Bulgaria adopts euro, 20 years after joining European Union
Bulgaria officially adopts the euro, becoming the 21st member of the Eurozone. This historic monetary transition occurs nearly two decades after the country joined the EU. Discover the details and implications.
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CRA owed $10B+ in unpaid COVID benefits
The Canada Revenue Agency reports it is owed more than $10 billion in COVID-19 benefit overpayments. Learn about the agency's efforts to recover funds and what it means for Canadians.
Bulgaria Set to Join Eurozone as 21st Member in 2025
Bulgaria is poised to join the eurozone on January 1, 2025, deepening EU integration. Discover the implications of this historic economic shift.
Iran Names New Central Bank Chief After Currency Fall
Iran appoints a new central bank governor following a record currency devaluation and mass protests. Get the latest on the political and economic implications.
Massive German Bank Vault Heist Nets Tens of Millions
Thieves executed a major bank robbery in Germany, drilling into a vault and escaping with property worth tens of millions of euros. Get the latest details on the brazen heist.
German Bank Heist: $35M Stolen Over Christmas
Thieves drilled into a German bank vault over the holidays, stealing cash and valuables worth €30 million in a heist police compare to Ocean's Eleven. Read the details.
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Judge Rejects White House Move to Defund CFPB
A federal judge ruled the CFPB's funding from the Federal Reserve must continue, blocking an attempt to starve the agency of money and potentially lay off its employees. Read the latest on this legal battle.
U.S. removes sanctions on former Sberbank exec
The United States has officially removed sanctions against Alexandra Buriko, a former top executive at Russia's state-owned Sberbank. This significant move in international finance occurred on December 30, 2025.
Germany to drop Usmanov probe for $11M fine
German authorities will end their investigation into Russian billionaire Alisher Usmanov upon payment of an $11 million fine. The deal concludes a major financial probe.
High Tax Rates and Complexity Fuel Canadian Tax Evasion
Tax expert Kim Moody argues excessive personal tax rates and burdensome compliance are key motivations for tax evasion in Canada. He calls for systemic reform to reward contribution.
TD Bank Stock Makes Huge Comeback After U.S. Troubles
Toronto-Dominion Bank's stock price surged nearly 70% in 2025, reaching an all-time high, as the bank moves past a $3.1B U.S. anti-money laundering fine. Read the full analysis.
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FP Columnists' 2025 Views: July & August Analysis
A review of Financial Post columnists' perspectives from July & August 2025, covering Canada-U.S. trade tensions, productivity, government spending, and central bank accountability. Discover key economic insights.
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