AT&T CEO Randall Stephenson will try to sell Capitol Hill on his company's planned merger with Time-Warner. Stephenson will present the merger as a way of disrupting the existing cable TV model, but with the president-elect already lined up with opponents, he may have an uphill climb.
For weeks, the stock market sent signals that it was bound to take a hit if Donald Trump won the election. But on the first day of trading after a surprise Trump victory, stocks have been up most of the day.
The Consumer Financial Protection Bureau issued new rules on prepaid cards that will require providers to abide by some of the same restrictions as credit cards. Namely, it will have to assess the borrower's ability to repay, and it will limit fees and interest rates.
Wells Fargo's John Stumpf was pilloried again Thursday in an appearance before the House Financial Services Committee. Stumpf reiterated his apology for the fake accounts scandal and promised the bank would do better, but it did little good. Many lawmakers wanted to know why it took the bank so long to put an end to the fraudulent practices.
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