Embattled NYC Schools Chancellor David Banks exiting post earlier than expected as fed probe intensifies
New York City Schools' embattled Chancellor David Banks plans to step down from his position in the coming weeks, the Post reports, months earlier than previously planned. Banks announced his retirement from his top post at the Department of Education on September 25, just weeks after federal authorities raided the home he shares with Deputy […]
Fed will help banks get cash in hurricane affected areas, Powell says
Federal Reserve Chairman Jerome Powell said Monday that the Fed will help local and regional banks in hurricane-hit areas ensure they have enough cash for their customers during the ongoing emergency. said he could assist. “We're able to ensure through the Reserve Bank that banks have cash available, so even if there is an extended […]
British Banks Split on Charging Fraud Reimbursement Fees – PYMNTS.com
UK lenders are reportedly divided over whether to charge fraud victims under new fraud reimbursement rules. From October 7, UK banks will be required to refund up to £85,000 to customers who have fallen victim to authorized push payment (APP) fraud. However, as reported by the Financial Times (FT), reported On Monday (September 30), these […]
Newlywed Adams officials David Banks, Sheena Wright may not get ‘pillow talk’ privilege in fed probe: experts
Their “pillow talk” may be fair game. A wedding took place Saturday at the embattled Big Apple school's Martha's Vineyard, and President David Banks and First Vice Mayor Sheena appear to be shielding the couple from possible federal criminal charges. Maybe, but experts say this marriage won't completely protect them. The longtime lovebirds' wedding, which […]
Status of the US Dollar as Global Reserve Currency: Share Drops to Lowest since 1995. Central Banks Diversify to “Nontraditional” Currencies and Gold – WOLF STREET
However, China's yuan continues to decline. Written by Wolf Richter of Wolf Street. The US dollar, which remains the number one reserve currency held by central banks, continues to slowly lose share to other key currency combinations as central banks diversify their dollar-denominated asset holdings to other currency-denominated assets. There is. And they are also […]
$1,100,000,000,000 Pours Into US Banks Amid High Interest Rates As JPMorgan Chase, Bank of America Pay Pittance To Depositors: Report – The Daily Hodl
After two and a half years of the Fed's “prolonged high interest rate” policy, US banks have reportedly collected more than $1 trillion. The high interest rate system has allowed thousands of U.S. banks to earn higher yields on their Fed deposits, according to data from the Federal Deposit Insurance Corporation (FDIC). report Financial Times. […]
Australian Dollar receives support from divergent policy outlooks between central banks – FXStreet
The Australian dollar strengthened as the RBA and Fed adopted diverging policy outlooks. The RBA's Financial Stability Review suggests that Australia's financial system remains resilient and risks are broadly contained. China plans to inject 1 trillion yuan of capital into its major banks. The Australian dollar (AUD) recovered some of its recent losses against the […]
China weighs injecting $142 billion of capital into top banks, Bloomberg News reports – Yahoo Finance
HONG KONG (Reuters) – China is considering injecting up to 1 trillion yuan ($142.39 billion) in capital into the country's biggest state-owned banks to boost their ability to support its struggling economy, Bloomberg News reported on Wednesday. The move is part of a wide-ranging stimulus package introduced by Beijing this week to jump-start China's sluggish […]
Biden-Harris feds shut down solvent banks in an unconstitutional move against crypto banking
Many of you may remember my coverage of “Operation Chokepoint 2.0” in the spring of 2023. To recap, Biden’s financial regulators, namely the Fed, FDIC and OCC, began cracking down on banks dealing in the cryptocurrency space. The first victim was the Silvergate Bank. Voluntary LiquidationThe standard reporting on Silvergate was that the bank lent […]
Another Outer Banks home collapses, third home lost on Rodanthe street this week
A home on the Outer Banks has collapsed into the Atlantic Ocean, the third house on that stretch to meet the same fate since Friday. The home, located in GA Kohler Court, Rodanthe, sank into the sea on Tuesday afternoon. It's the 10th home in Caller Court, Georgia, to be swallowed by the ocean in […]