Politics Aug 07 Trump opens door for 401(k) retirement plans to invest in private equity and crypto Millions of Americans saving for retirement through 401(k) accounts could have the option of putting their money in higher-risk private equity and cryptocurrency investments, according to an executive order signed Thursday by President Donald Trump that could give those financial players long-sought access to a…
Economy Jul 10 Federal regulators fine Citigroup $136 million for taking too long to fix internal control issues The fines come from the Federal Reserve and the Office of the Comptroller of the Currency, which said in separate releases that Citigroup had failed to meet its obligations stemming from a 2020 consent order related to the bank's risk…
Politics Jun 13 Biden to nominate Christy Goldsmith Romero to replace FDIC chair who quit amid workplace abuse allegations President Joe Biden will nominate Christy Goldsmith Romero to replace Martin Gruenberg as head of the Federal Deposit Insurance Corporation.
Politics May 20 FDIC chairman to step down following report on agency’s ‘toxic culture’ The White House said Monday that President Joe Biden will name a replacement for Martin Gruenberg "soon" and called for the Senate to quickly confirm the person's nomination.
Nation Mar 28 FTX founder Sam Bankman-Fried sentenced to 25 years in prison Bankman-Fried, 32, was convicted in November of fraud and conspiracy — a dramatic fall from a crest of success that included a Super Bowl advertisement and celebrity endorsements from stars like quarterback Tom Brady, basketball star Stephen Curry and comedian…
Nation Mar 28 Former crypto mogul Sam Bankman-Fried to be sentenced for defrauding FTX investors Bankman-Fried once led companies so successful that they were featured in a Super Bowl advertisement. A jury found that Bankman-Fried illegally used billions of dollars from FTX depositors.
Politics Mar 05 WATCH: Biden administration to cap credit card late fees at $8 in move against junk fees The Biden administration has portrayed the White House Competition Council as a way to save people money and promote greater competition within the U.S. economy.
Politics Jan 24 Biden administration targets transaction-declined fees, considered another type of bank ‘junk fee’ The Biden administration has proposed banning another type of bank "junk fee," targeting fees that are typically charged by banks when a transaction is declined in real time.
Economy Jan 17 New regulation proposed by Biden administration would limit overdraft fees at big banks to as low as $3 Under the proposal, banks would have to show how much it costs for them to run overdraft services, or instead charge a benchmark fee that could be as little as $3.
Economy Jan 10 Regulators approve new bitcoin funds in move that could spur more investment in cryptocurrency The Securities and Exchange Commission has reluctantly approved trading of the first exchange-traded funds that hold bitcoin. But the agency said Wednesday that it is still deeply skeptical about cryptocurrencies and did not approve or endorse bitcoin in its decision.