Banks, OCC battle Illinois swipe fee law on taxes, tips

The Office of the Comptroller of the Currency and 10 former officials filed amicus briefs that provide legal heft to banks battling the state of Illinois over a law that removes sales taxes and tips from interchange fees.

Fed Chair Powell to stay on until DOJ concludes probe

Federal Reserve Chair Jerome Powell, in a post-FOMC meeting Wednesday, said he intends to stay at his post until a successor has been confirmed, adding that he will remain on the Fed board until a Justice Department investigation into him is concluded.

Tech outage halts trading at UBS

Following similar glitches at Lloyds and the London Metal Exchange, a tech outage at UBS has renewed scrutiny on modern banking platforms.