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Big Banks Push Back On Trump's Credit Card Cap, Warning Of 'Significant' Economic Slowdown

by The Wealth Advisor Contributor
Some of America’s top bankers are warning that the president’s cap on credit card interest rates would prove disastrous for lower-income consumers.

Featured

Oracle Sued By Bondholders Over Losses Tied To AI Buildout

Oracle was sued on Wednesday by bondholders who say they suffered losses because the company ​concealed its need to sell significant ‌additional debt.

Warren Buffett Compares AI Risks To Those Posed By Nuclear Weapons: 'The Genie Is Out Of The Bottle'

Warren Buffett is warning that the risks posed by rapid AI development are reminiscent of a geopolitical issue that defined much of his career.

Ned Davis Distills Political Angst Into ‘Big MAC’ Equity Trade

Wall Street loves few things more than a good acronym to describe a trading thesis. Think FANG, FOMO/YOLO and TACO.

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Companies

JPMorgan Gets a Dealmaking Boost as Wall Street Recovered From Tariff Tumult

Q2 earnings at JPMorgan Chase were better than expected, as a boost in dealmaking demonstrated how Wall Street recovered from the spring freeze.

News

Morgan Stanley, Goldman to Settle Lawsuit Over Archegos Trades

ViacomCBS investors who sued Morgan Stanley, Goldman Sachs Group and Wells Fargo asked judge for final approval of a $120M settlement with the banks.

AUM Growth Tactics

BlackRock's Assets Hit Record $12.53 Trillion on Second-Quarter Market Rally

BlackRock's assets under management hit new high in second quarter as global markets rallied on the prospect of trade deals and interest-rate cuts.

TAMPs

Envestnet Hires Chief People Officer

"Sue is a proven transformational leader who understands how to align people strategies with a growth-oriented culture," said Chris Todd, Chief Executive Officer of Envestnet. "As we continue to evolve our business and invest in our future, Sue's track record of fostering employee engagement, operational excellence, and cultural cohesion will help us scale with purpose. I am thrilled to welcome her to Envestnet's executive leadership team."

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The Trust Advisor

Microsoft Founder Bill Gates' Billion Dollar Divorce Payout To Ex-Wife Melinda Finally Revealed

The Trust Advisor

King Charles Moves To Reclaim Royal Lodge, Ending £30 Million Inheritance Path For Andrew’s Daughters

Washington Wire

Jay Powell: DOJ Threatens Criminal Indictment

The Trust Advisor

I Asked ChatGPT How To Make My Estate ‘Drama-Proof’ For My Heirs In 2026 — Here’s Its 12-Month Checklist

Washington Wire

Jamie Dimon Backs Fed Chair Powell Amid DOJ Probe: 'Everyone We Know Believes In Fed Independence'

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