Daily Reads 2/8/19
BB&T Corp. announced that it will soon close a deal to purchase SunTrust Banks Inc. for $28.2 billion in hopes to better compete with larger consumer lending banks such as JPMorgan Chase & Co. and Bank of America. Despite the positive synergies in technology innovation that this merger will create, the deal faces scrutiny from US Senators who are critics of Wall Street.
07/maxine-waters-says-bbt-and- suntrust-merger-deserves- serious-scrutiny.html
Trump announced that he is open to revisions to the SALT cap which limits to $10,000 the amount of state and local taxes including property taxes that taxpayers can deduct each year on their federal returns. Lifting the cap would cost $ 673 billion over a decade.
news/articles/2019-02-07/ trump-says-he-s-open-to- changing-salt-deduction-cap- in-tax-law
Senator Lamar Alexander, a republican from Tennessee proposed withholding monthly student loan payments from employed citizens’ paychecks. How likely is it that Senator Alexander’s proposal will pass and become reality?
story/prominent-republican- wants-to-take-student-loan- payments-out-of-your-paycheck- 2019-02-06
As more and more investors turn to fixed income securities for a safety net given the projected slowing global economy, the mortgage rates took a different trajectory, decreasing with the 10 year treasury rate. The upside is that monthly mortgage payments will decrease for the average home owner.