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Trump administration weighs citizenship checks for bank customers amid immigration crackdown
politics1 day ago

Trump administration weighs citizenship checks for bank customers amid immigration crackdown

The Trump administration is reportedly weighing a plan to require banks to verify the citizenship status of current and future customers as part of a hardline immigration crackdown. The move could come as an executive order, but officials say plans aren’t finalized and there are legal/operational questions. Industry sources warn that verifying citizenship for all customers would be unworkable and could force banks to assist in deportation efforts.

via CNN|
#banks#citizenship#executive-order
China nudges banks to trim U.S. Treasury exposure on stability concerns
economy16 days ago

China nudges banks to trim U.S. Treasury exposure on stability concerns

Chinese regulators reportedly told banks to scale back holdings of U.S. Treasuries citing concentration risk and market volatility, with limits on new purchases and directives to reduce exposure; yields rose and the dollar fell on the news. The move was framed as financial-stability guidance rather than geopolitical maneuvering, and regulators did not specify a target. As of Sep 2025, Chinese banks held about $298 billion in USD-denominated bonds, with unclear how much are Treasuries, adding to market chatter about who will keep financing the U.S. debt.

via Business Insider|
#banks#china#dollar
Citi pursues private arbitration for harassment claim against wealth chief Sieg
business29 days ago

Citi pursues private arbitration for harassment claim against wealth chief Sieg

Citigroup asked a Texas federal court to compel private arbitration of Julia Carreon’s sexual-harassment claim against wealth chief Andy Sieg, arguing the allegations are fabricated and that Citi’s employment-dispute practice supports arbitration; the move comes amid a 2022 law that limits arbitration for sexual-harassment claims, and Citi cites Carreon’s messages praising Sieg to challenge her accusations.

via Financial Times|
#arbitration#banks#business
Chip Rally Lifts U.S. Futures as Banks Edge Higher
market-news1 month ago

Chip Rally Lifts U.S. Futures as Banks Edge Higher

U.S. stock futures edged higher Thursday night as gains in banks and chip stocks improved sentiment. Nasdaq 100 futures rose 0.25%, the Dow Jones Industrial Average 0.06%, and the S&P 500 0.15% at 9:12 p.m. ET. In Thursday’s session, the S&P 500 and Nasdaq climbed around 0.3% while the Dow gained about 0.6% and the Russell 2000 led with a ~0.9% advance. Chip names were in focus after Taiwan Semiconductor reported strong Q4 results, helping Nvidia and AMD rise roughly 2%, and Goldman Sachs and Morgan Stanley lifting banks higher. Despite the intraday gains, major indexes are on track for weekly losses.

via TipRanks|
#banks#chipmakers#market-news