Banking

A provision in the new tax law, intended to prevent American companies from shifting profits abroad to benefit from a lower overseas rate, might also hit the largest foreign banks with significant U.S. operations.

With tax reform close to the finish line, bankers are still clear winners from the compromise worked out between House and Senate negotiators. But the bill includes some caveats that might give institutions pause.

Now that Republicans in Congress have released their final tax bill, two big questions remain. What will companies do with all that cash, and who will benefit the most?

Some brokerage firms are concerned that the tax overhaul could lead to upheaval, pushing their employees to set up their own shops or switch firms to lower their tax bills.

U.S. commercial real estate is a likely winner in the evolving Republican tax overhaul, which is poised to lower rates for property owners, spur new investment and increase demand for rental housing, according to a new report.

A former Swiss banker was acquitted of helping U.S. clients dodge taxes, dealing prosecutors a dramatic loss in their efforts to hold individuals responsible after the government successfully targeted financial institutions.

Intuit has introduced QuickBooks Capital, a funding solution for small businesses.

The maker of tax-preparation and accounting software will start providing loans to small businesses.

The Internal Revenue Service has suspended its $7.25 million contract with Equifax after the company admitted to finding a malware link on its website on the heels of a data breach that exposed the personal information of approximately 146 million people in the U.S.

The Mastercards can be whitelabeled so firms can offer the product to their clients.