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The Latest Breaking News from Financial Services

Granger sets fiscal 2024 funding targets below debt limit deal - Roll Call

House Republican appropriators will write their fiscal 2024 spending bills to meet the tight budget caps sought by the Freedom Caucus and other spending hawks.

Roll Call

Is SoFi Technologies (SOFI) a Buy Right Now?

Despite SoFi Technologies’ (SOFI) robust topline growth, its weak profitability is concerning. Let’s look at its financial metrics to see whether it is a buy right now….

StockNews.com

Buy now, pay later services will be considered credit products by the end of the year. Here's how it will work

The federal government will classify buy now, pay later options as credit products, as part of sweeping changes to protect both consumers and the industry. Here's what it means in practice.

ABC News

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House GOP tries panel collaboration on crypto; Democrats leery - Roll Call

House Agriculture and Financial Services Republicans are collaborating in an effort to agree on a legislative framework for cryptocurrencies.

Roll Call

Despite the Fed’s best efforts, inflation remains above the comfort zone. Minutes from the Fed’s meeting show that officials are keen on raising interest rates. This could keep the stock market under pressure this year. Therefore, it could be wise for investors to steer clear of Shopify (SHOP), Snap (SNAP),…

StockNews.com

House GOP appropriators unveil tighter earmark rules - Roll Call

House Republican appropriators have banned earmarks from the Labor-HHS-Education, Financial Services and Defense bills under new rules.

Roll Call

House GOP appropriators set to unveil new earmark restrictions - Roll Call

Leaders of two Appropriations subcommittees said they will not allow earmarks in their fiscal 2024 spending bills.

Roll Call

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House GOP mulls putting ‘woke’ earmarks on chopping block

WASHINGTON — House GOP appropriators are gearing up to potentially bar local projects entirely from the largest domestic spending bill for fiscal 2024, along with others deemed “woke” by critics of earmarks funded in the December omnibus package.

Tribune News Service

House GOP mulls putting 'woke' earmarks on chopping block - Roll Call

House GOP appropriators are gearing up to potentially bar local projects entirely from the largest domestic spending bill for fiscal 2024.

Roll Call

1 Financial Stock to Sell in February and 1 to Buy

The higher-than-expected CPI and strong jobs data raised the prospect of aggressive interest rate hikes in the upcoming months. This should benefit financial companies as a rising rate environment allows them to generate higher interest income. Given this backdrop, while struggling financial stock SoFi Technologies (SOFI) is best avoided, it…

StockNews.com

Gavels for top House committees don’t always come cheap

Winning control of the most sought-after committees in the House can come with a hefty price tag — in party dues.

Tribune News Service

Gavels for top House committees don’t always come cheap - Roll Call

A study by a campaign finance advocacy group criticized big donations that leaders of top committees paid as “party dues.”

Roll Call

Rep. Quigley shocker: Democratic leader Jeffries knocks him off Intel panel

A spokesperson for House Democratic Leader Hakeem Jeffries said Jeffries “made clear” to Quigley that term limits prevented him from staying on the panel.

Chicago Sun-Times

Congressional Republicans have Gary Gensler in their crosshairs

Rep. Hill on his new digital assets subcommittee.

Fortune

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Does Block Stock Deserve a Spot in Your Portfolio in 2023?

With persistent macroeconomic uncertainties surrounding interest rate hikes, let’s examine whether Block (SQ) has what it takes to deliver sustainable returns this year. Read on….

StockNews.com

Is SOFI a Penny Stock You Should Want to Buy?

Financial services company SoFi Technologies (SOFI) recorded impressive growth across its business segments. However, the company’s losses widened, and analysts seem bearish about its earnings growth prospects due to its bleak fundamentals and the potential recessionary pressures. Thus, is it wise to buy this under $5 fintech stock? Read more…

StockNews.com

1 Financial Services Stock to Buy This Week and 2 to Sell

The broader macroeconomic headwinds have dampened the growth of the financial services industry this year. While fundamentally weak financial services stocks SoFi Technologies (SOFI) and Exela Technologies (XELA) are expected to remain under pressure, continued technological advancements should help Forrester Research (FORR) stay resilient. Keep reading….

Tribune News Service

These are the soon-to-be former members K Street wants to woo

WASHINGTON — Texas Rep. Kevin Brady, a former chairman of the Ways and Means panel, enjoys something of a standing invitation on K Street.

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Roll Call

These are the soon-to-be former members K Street wants to woo

Some former House and Senate members will be in demand from K Street firms, but not all, lobbyists and headhunters say.

Roll Call

Expected Financial Services chair found consensus with Democrats - Roll Call

Democrats said Rep. Patrick T. McHenry, R-N.C., expected Financial Services Committee chair, has sought to find bipartisan consensus.

StockNews.com

3 Vulnerable Stocks to Avoid Until Further Notice

The Federal Reserve recently approved a 75-basis-point rate hike for the fourth straight meeting, paving the way for interest rates to reach 5% by March 2023. With increasing borrowing costs and softening demand hurting high-debt businesses, it is likely to be a treacherous terrain for fundamentally weak stocks. Thus, it…

StockNews.com

3 Fintech Stocks to Avoid Until Further Notice

While the pandemic brought massive growth opportunities for the fintech industry as digital transactions skyrocketed, the current uncertain macroeconomic environment has dampened the industry’s prospects. The stock market is expected to remain under pressure amid growing fears of recession. Therefore, it could be wise for investors to avoid fundamentally weak…

StockNews.com

3 Financial Services Stocks You Wouldn’t Want to Buy Right Now

Financial services providers usually benefit from a rising interest rate environment due to the positive correlation of their revenues with interest rates. However, financial services stocks SoFi Technologies (SOFI), Upstart Holdings (UPST), and Marathon Digital (MARA) are not well-positioned to capitalize on the current interest rate environment. One should avoid…

StockNews.com

2 Stocks You Should Think About Shorting

Interest rate increases and consequent market volatility look all set to persist in light of the better-than-expected September employment figures. Since the outlook seems bleak for fundamentally weak stocks SoFi Technologies (SOFI) and Cassava Sciences (SAVA), one may consider selling them short. Continue reading….

StockNews.com

1 Tech Stock That Could Get Pushed Even Lower in Q4

Financial services provider SoFi Technologies (SOFI) has lost more than 65% this year. Given its bleak fundamentals, the stock could get pushed even lower this quarter. Hence, it might be best avoided now. Read on….

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