Secaucus NJ, Attorney General Matthew J. Platkin announced today that the New Jersey Bureau of Securities (“Bureau”) within the Division of Consumer Affairs (“Division”) has filed a civil enforcement action against the former vice-president of a New Jersey-based real estate investment firm that defrauded investors nationwide who had invested $630 million in that firm.
Ridgewood NJ, Wells Fargo, once the largest mortgage lender in America, is facing accusations of discrimination linked to the industry’s widespread practice of providing mortgage loan discounts to specific borrowers, as reported by CNBC.
Ridgewood NJ, bank stocks continue to face a crisis of confidence , on Tuesday after Moody’s Investors Service announced it had downgraded 10 small and midsize American lenders, and that it may do the same with a handful of major firms. Higher funding costs, potential regulatory capital weaknesses and rising risks tied to commercial real estate are among the strains that prompted a review, Moody’s said.
Washington DC, the Federal Reserve implemented a widely-expected 25 basis point hike, bringing interest rates to their highest level since 2001. Continuing in its quest to normalize interest rates and bring down inflation .
Ridgewood NJ, the Federal Reserve on Thursday announced that its new system for instant payments, the FedNow® Service, is now live. Banks and credit unions of all sizes can sign up and use this tool to instantly transfer money for their customers, any time of the day, on any day of the year.
Summit NJ, Johnson & Johnson spun off its Kenvue consumer brands division on Thursday, raising the most cash from an initial public offering (IPO) in more than a year. Johnson & Johnson said it sold 172.8 million shares(opens in new tab) at $22 a pop in Kenvue, giving the company whose brands include Band-Aid, Tylenol and Listerine a valuation of roughly $40 billion.
Washington DC, the US Federal Reserve did what almost everyone expected it would do, raising interest rates by a quarter percentage point and hinting it could be the final move in its tightening campaign. With a slight tweak to its language, the central bank signaled that the time to step back and watch may have finally arrived.
Ridgewood NJ, according to Quantitative Easing Janet Yellen ,and her media supporters , the sky is falling and there’s one month left for Republicans to relent on their refusal to raise the debt limit (so the US can pay its existing bills) unless the White House meets their demands (future cuts that will likely slash climate, education and social funding). Now, it turns out there may only be seven days left. President Joe Biden invited top congressional leaders for a meeting on the matter, but fear in markets has been rising for some time now, with yields on Treasury bills for early June soaring. Democrats are already looking at some radical options to keep the world’s largest economy from defaulting.
Washington DC, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent in March on a seasonally adjusted basis, after increasing 0.4 percent in February, the U.S. Bureau of Labor Statistics reported today.
Washington DC, (8:30 am)total nonfarm payroll employment rose by 236,000 in March, and the unemployment rate changed little at 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in leisure and hospitality, government, professional and business services, and health care. This news release presents statistics from two monthly surveys.
Washington DC, the Federal Deposit Insurance Corporation (FDIC) entered into a purchase and assumption agreement for all deposits and loans of Silicon Valley Bridge Bank, National Association, by First-Citizens Bank & Trust Company, Raleigh, North Carolina.
Paulsboro NJ, a former North Carolina resident appeared in court after he was arrested and returned to the United States from Phuket, Thailand, for his role in a large-scale market manipulation scheme related to two publicly traded companies, U.S. Attorney Philip R. Sellinger announced .