Lawmakers, who have run out of patience with the cryptocurrency industry’s attempts to live out an unregulated Libertarian, bank-free world, are now desperate to implement stringent oversight.
Credit card debt surged in the United States from April through June as Americans borrowed billions of dollars to continue spending in the face of growing inflation, according to a Tuesday report from Federal Reserve Bank of New York.
For more than a decade, US Bank pressured its employees to open fake accounts in their customers’ names in order to meet unrealistic sales goals, the Consumer Financial Protection Bureau said Thursday.
The Fed is tightening credit even while the economy has begun to slow, thereby heightening the risk that its rate hikes will cause a recession later this year or next.
Aearo Technologies filed for Chapter 11 bankruptcy protection this week as a way to deal with the more than 230,000 product liability suits filed against the company and its corporate parent, 3M, in recent years over its now-discontinued Combat Arms earplugs.
Scale Computing CEO Jeff Ready said the $55 million investment will help the fast-growing company move closer to its goal of an initial public offering.
Companies hit the brakes on deal-making during the first half of 2022 as concerns over pervasive inflation, interest rate hikes and the threat of a recession loomed over Wall Street.
For several years, Celsius was a crypto golden child under co-founder Alex Mashinsky, offering more than 20 percent yields under what he and other executives said was a disruptive plan that avoided the fees and greed of traditional banks.
The recent crypto meltdown has prompted a larger question: For pension funds that ensure teachers, firefighters, police and other public workers receive benefits in retirement after public service, is any amount of crypto investment too risky?
Inflation tightened its grip on businesses and consumers during the second quarter and investors expect to see a dent in the latest round of corporate earnings.
The U.S. Dollar Index, which measures the value of American money against six major foreign currencies, has jumped nearly 12% this year, to a two-decade high.
Fishers-based American Acquisition Opportunity Inc. says it has entered into a merger agreement with Royalty Management Corp. in an all-stock deal that values Royalty Management at $111 million. The merger will create a new Fisher-based public company.
At the close of trading June 24, Bloomberg’s Indiana Index was trading at $375.30, up 0.55% from the beginning of the year. The S&P 500 was down 18.45% and the tech-heavy Nasdaq was down 26.59%.
Starting Friday, the three major U.S. credit reporting companies will stop counting paid medical debt on the reports that banks, potential landlords and others use to judge creditworthiness.
The S&P 500, Wall Street’s broad benchmark for many stock funds, closed the first half of 2022 with a loss of more than 20% after starting the year at an all-time high. It’s the worst start to a year since 1970, when Apple and Microsoft had yet to be founded.
Christopher Day, the CEO and cofounder of Indianapolis-based marketing tech firm DemandJump, will take over as CEO of the Indianapolis-based organization on July 18.
In its lawsuit, the agency alleged that for years, Walmart failed to properly secure the money transfer services offered at its stores.
The deal, expected to close in the fourth quarter, includes about $500 million in client assets held in about 157,000 accounts associated with more than 3,000 employer groups.
The loan default comes at a perilous moment for cryptocurrencies, with investors enduring staggering losses. The market value for all cryptocurrencies stood just below $1 trillion on Monday; seven months ago, that figure approached $3 trillion.
The tests vary from year to year, but generally involve the Fed testing to see how steep the losses in the banking industry would be if unemployment were to skyrocket and economic activity were to severely contract.
