What will become of The Epoch Times with its chief financial officer accused of money laundering?
The Epoch Times’ chief financial officer, Weidong Bill Guan, was indicted on charges of misappropriating $67 million in criminal proceeds to the media outlet, its affiliates and himself. Guan pleaded not guilty but was suspended from the media company. Founded in 2000, The Epoch Times is a newspaper published in 23 languages. The arrest this […]
Consumers discouraged by high interest rates and deteriorating financial health: study
More consumers are considered financially unsound than last year. (iStock) Inflation and the pandemic have driven up interest rates and lowered consumer satisfaction, with roughly 73% of consumers with loans classified as financially unhealthy. J.D. Power Consumer Lending Satisfaction Survey found. Last year, 67% of consumers fell into a similar category, indicating that times remain […]
Consumer Financial Protection Bureau to launch registry of ‘repeat offenders’
The Consumer Financial Protection Bureau (CFPB), the federal government’s top consumer watchdog, announced Monday that it will create a registry to go after companies and individuals that repeatedly violate consumer protection laws. The new rules, originally proposed in December 2022, would require non-bank companies that receive enforcement orders from local, state, or federal consumer protection […]
Financial dangers of store credit cards can be 'severe,' expert warns – Fox Business
Financial expert talks about ‘profound’ impact of retail credit cards: ‘There are so many strings attached’ Nearly every store offers rewards credit cards for customers, but not all of the offers translate into big savings — and one personal finance expert warns that these offers are often a “catch-up” for long-term problems. “For consumers, it’s […]
Biden’s move to lift financial restrictions on notorious dictatorship triggers backlash
Cuban-American lawmakers have slammed the Biden administration after the U.S. Treasury Department announced it would lift some financial restrictions on Cuba. Treasury officials Adjustment The initiative aims to support independent businesses and “internet-based services to promote internet freedom in Cuba, support independent private Cuban entrepreneurs, and expand access to certain financial services” for Cubans who […]
Former MLB umpire Angel Hernandez took financial settlement to retire: reports
It’s the end of a tumultuous career for MLB umpire Angel Hernandez, who announced his retirement late Monday night. Hernandez last played on May 9, so it’s easy to understand why he was off the field for nearly three weeks before suddenly retiring. Hernandez and MLB reportedly reached a financial settlement that will allow the […]
UBS rules out external successor to chief Sergio Ermotti – Financial Times
Get your free copy of Editor’s Digest FT editor Roula Khalaf picks her favourite stories in this weekly newsletter. UBS is not looking to appoint an outsider to succeed Chief Executive Officer Sergio Ermotti, and will choose from among three internal candidates when he steps down in about three years. The Swiss bank has decided […]
Supreme Court Slaps Down Challenge That Could Have Gutted Financial Regulatory Agency
The Supreme Court rejected a challenge on Thursday that could have paved the way for a consumer protection regulator to be dismantled. The court ruled by 7-2 vote that the unconventional way the Consumer Financial Protection Bureau (CFPB) receives funding is constitutional, dealing a blow to the business interests who brought the challenge. Two trade […]
Lawmakers urge financial regulators to take action on banking discrimination
A group of Democrats in the House and Senate is calling on the heads of the Treasury Department, the Federal Reserve and other financial regulators to ensure fair banking access for Muslim Americans and immigrants. Sen. Elizabeth Warren (D-Mass.) and Rep. Ilhan Omar (D-Minn.) wrote Wednesday to Treasury Secretary Janet Yellen, Federal Reserve Chairman Jerome […]
Red-state financial officers urge Biden to back Israel, ‘alarmed’ of wavering support in ‘hour of need’
First appearance on Fox: More than 20 U.S. state-level financial officials are calling on the Biden administration to continue aid to Israel amid the Israeli Defense Forces’ recent invasion of Rafah. The 23 members of the State Treasurer’s Foundation (SFOF) said, “As the State Treasurer, we are grateful for your early commitment to provide unyielding […]