WASHINGTON — The Federal Reserve approved a proposal Thursday to loosen a financial-crisis era rule that prevents banks from investing in venture capital funds. The proposal would affect the so-called “Volcker Rule," which was created after the 2008 financial meltdown. The rule bars banks from trading with government-insured deposits in an effort...
California Threatened With Funds Loss Over Abortion Coverage
WASHINGTON — The Trump administration on Friday threatened California with a potential loss of federal health care funds over the state's requirement that insurance plans cover abortions. The announcement, timed to coincide with the anti-abortion March for Life in the nation's capital, came hours before President Donald Trump was scheduled...
Charles Schwab Buys TD Ameritrade in Brokerage Blockbuster
NEW YORK — Charles Schwab is buying rival TD Ameritrade in a $26 billion stock swap, a blockbuster agreement accelerated by massive disruption in the online brokerage industry. Competitive pressure has already forced brokerages to make it free for customers to trade U.S. stocks online, and Schwab’s buyout combines two...