Commission analysis reveals fake bank fraud warnings as the most common. The Federal Trade Commission (FTC) has announced the findings of recent analysis of text message scams. In…
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Treasury Reaches Settlement with British American Tobacco
Resolves alleged violations of U.S. sanctions against North Korea. The Department of the Treasury reached a legal settlement with British American Tobacco (BAT) on Thursday, allowing the company…
Read MoreFederal Reserve Raises Interest Rates Again
Currently at 5 percent. Federal Reserve officials raised interest rates a quarter of a percent Wednesday. Rates are now at their highest since 2007. This increase is yet another…
Read MoreU.S. District Judge Sentences Infinity Q Founder to 15 Years
Imprisonment is the result of securities fraud. U.S. District Judge Denise Cote sentenced James Velissaris, the founder of Infinity Q Management, to 15 years of prison for misleading…
Read MoreLegislators Agree Bank Closure Fallout Requires Action
Promise to subpoena SVB CEO after two-week district break Senators began a two-week break to do local work in their respective states, but not before communicating their agreement…
Read MoreSenators Questions Fed Banking Regulators
They ask why there was no federal response to the warning signs ahead of the bank’s collapse. The Senate Banking Committee pressed banking regulators on their failure to…
Read MoreTreasury Secretary Says Financial Sector Stabilizing
The department continues support for banks, advocates for regulation updates Secretary of the Treasury Janet Yellen said that she believes that the financial sector is beginning to recover…
Read MoreFed Again Considers Interest Rate Hike
Central bank members meet Wednesday. The two-day policy meeting of the Federal Reserve will meet Tuesday and Wednesday. Among their major considerations are the strains that have come…
Read MorePresident Biden Seeks Tougher Penalties on Execs of Failed Banks
He wants Congress to levy legal and monetary penalties. President Biden has urged federal legislators to pass legislation for regulators that would hold the executives of failed banks…
Read MoreThree U.S. Banks Have Failed
The FDIC, Treasury Department, and Federal Reserve are working together to ensure depositors’ access to funds. The Federal Deposit Insurance Corporation has taken over the Silicon Valley Bank…
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