Daily News: December 18, 2015

Reuters: Prime Rates Rise Following Fed Rate Hike


Reuters reported that major U.S. banks raised their prime rates for the first time since 2006, following a rate hike from the Federal Reserve.

Banks including Wells Fargo, JPMorgan Chase and Bank of America raised their prime rates to 3.5% from 3.25%, according to Reuters.

Reuters noted slightly higher rate lending could give a small boost to bank earnings in the coming quarters.