As interest rates climbed, major banks charged borrowers more for mortgages and auto loans, yet never increased payouts to savers, despite telling lawmakers they would do so, say two U.S. senators in letters to seven CEOs, shared exclusively with CBS News. In March 2022, the Federal Reserve started raising the federal funds rate, with banks
Washington — The Senate confirmed John Ratcliffe as CIA director on Thursday as Republicans work to approve officials to the top posts in President Trump’s administration amid delays by Democrats. The Senate confirmed Ratcliffe in a 74 to 25 vote, making him the second of Mr. Trump’s nominees to be approved by the upper chamber. Senate
Republican Sen. Lisa Murkowski said Thursday she is “unable to support” Pete Hegseth for secretary of defense. She’s the first Republican to state her opposition to President Trump’s nominee ahead of his Senate confirmation vote. The Alaska Republican had been seen on Capitol Hill as a possible “no” vote and had tough questions for Hegseth
Trump sued for birthright order Trump’s birthright citizenship executive order in court 04:12 Washington — A federal judge in Seattle temporarily blocked President Trump’s new executive order that seeks to eliminate birthright citizenship. U.S. District Judge John C. Coughenour said during a hearing in a challenge to Mr. Trump’s order that it is “blatantly unconstitutional,”
Washington — President Trump is threatening to withhold federal disaster aid for the Los Angeles area if California doesn’t change the way it manages water in the state. Mr. Trump said he plans to head to Southern California on Friday to visit the communities affected by the fire. In an interview that aired Wednesday on
Secretary of State Marco Rubio is preparing to travel to Panama, Costa Rica, Guatemala and other Central American and Caribbean nations in the coming weeks, State Department spokesperson Tammy Bruce confirmed to CBS News. The trip, expected to be his first overseas as the top U.S. envoy, will include a stop in Panama to meet
The Sackler family and Purdue Pharma, the maker of the addictive painkiller oxycontin, have reached a $7.4 billion settlement with a bipartisan coalition of 15 states for fueling the opioid crisis, New York Attorney General Letitia James announced Thursday. The settlement bars the Sackler family from selling opioids in the U.S. and ends its control