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Federal Reserve extends limits on megabanks’ dividends and stock buybacks

Federal Reserve extends limits on megabanks’ dividends and stock buybacks

The Federal Reserve said Wednesday it is extending until year-end restrictions on large banks paying out dividends and buying back stock. Banks with over $100 billion in assets can pay dividends but are not allowed to raise them. The measure is aimed at bolstering banks as the coronavirus pandemic has caused millions of Americans to fall behind on mortgages, credit card payments and auto loans.

Skeptic
Skeptic
Top in Business