The U.S. Attorney alleges that Cesar Humberto Pina of Franklin Lakes defrauded dozens of victims out of millions.
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Retail sales in the United States registered a 0.7% monthly increase in September, beating initial estimates and suggesting that consumption continues to be solid despite high interest rates following the adjustments made by the Federal Reserve. The retail sales index, published today by the Commerce Department, showed a 0.7% increase in September, after…
The president of the Federal Reserve in Richmond, Tom Barkin, said on Tuesday that there is "progress" in the fight against inflation, which is moving in the right direction, although not yet at the point the institution is aiming for. At the Real Estate Roundtable event, he commented that he sees a mismatch between the most recent data on the US economy and what he…
Fred Daibes originally pleaded guilty to one of 14 charges in exchange for probation, but that deal was rejected by a judge last week.
The inflation surge is over. The next risk to family finances is a recession caused by increasing interest rates too high.
A Walnut woman who worked with her brother to operate an estimated $6 million real estate fraud in which homes were listed for sale without the owners' consent and would-be buyers were bilked out of money was sentenced Monday, Oct. 16, to three years and 10 months in federal prison. Bianca Gonzalez, 41, pleaded guilty last year to one federal count of conspiracy to…
Mortgage Rates pushed to a new high last week as the market reacted to uncertainty over the Federal Reserve's next move and the geopolitical climate, according to Freddie Mac. The average 30- year fixed-rate mortgage increased to 7.57% for the week ending Oct. 12, according to Freddie Mac's latest Primary Mortgage Market Survey. Higher mortgage rates have…
The bank has hired more than 100 mostly U.S. bankers this year, about half of them from Credit Suisse. "The possibility of accelerating growth in the U.S. was a logical opportunity for us," Ana Botín, Santander's chief executive, told the FT. As part of its U.S. expansion, the bank has acquired Amherst Pierpoint Securities, a principal trader for the Federal Reserve.
The latest Fidelity retirement study shows that the number of retirement millionaires jumped in the second quarter of 2023. There was a 10% increase in individuals holding 401(k) accounts, with over a million compared to the previous quarter. However, the average American has a significantly smaller 401(k) account balance. Who Are the Retirement Millionaires? Although the Fidelity…
A hospital bed in the infirmary unit of Southern State Correctional Facility in December 2016. File photo by Phoebe Sheehan/VTDigger Incarcerated people have long been ineligible for Medicaid. When the federally funded health care program began in 1965, it expressly excluded “inmate(s) of a public institution” from coverage. In Vermont and other states, officials are now…
Seventeen deputies at the Broward Sheriff's Office are accused of falsifying paperwork to collect money under government programs meant to help keep small businesses alive during the COVID pandemic. Many of the Sheriff's Office deputies made their first appearance in federal court in Fort Lauderdale on Thursday before U.S. Magistrate Judge Patrick M….
Federal Reserve officials agreed that the interest rate should remain elevated until they are convinced that inflation will reach the 2% target. The document also showed that members of the Federal Open Market Committee agreed that caution can be exercised in future decisions, with reference to emerging economic data. The Fed's bull cycle began in March…
Mohammed El-Erian is one of the most respected economic sages in the business world, the holder of a prestigious academic post at Cambridge University and an advisory position at the international financial firm Allianz. El-Erian warned that the Federal Reserve's commitment to keeping interest rates high to quell inflation will sap the likelihood of a "…
West Des Moines' American Equity demoted an executive after an insider trading violation that one expert calls 'pretty suspicious'
International markets tried to avoid volatility after the weekend's attack in Israel by the armed group Hamas. The stock markets managed to reverse their negative trend after the president of the Federal Reserve Bank of Dallas, Lorie Logan, said that an increase in the yields of long-term Treasury bonds could mean that the central bank has less need to…
Inflation’ s days may be numbered, beaten back by round after round of interest rate hikes delivered by the Federal Reserve. But the Fed’ s cure is causing its own pain. The 10- year Treasury is pivotal because it’ s considered the“ risk free "return against which most investments are weighed.
California has just asked for and received a waiver from the federal government that allows the state to skip eligibility verification for Medi-Cal. In California, where the Medicaid program is referred to as Medi-Cal, there is little incentive to address waste, fraud and abuse in the handling of billions in federal funding. With Medi-Cal, it now appears that…
You saved all your life for retirement and bought that dream home in Florida. During the first eight months of 2023, there were 23 billion-dollar weather and climate disaster events, according to the National Centers for Environmental Information, an office within the National Oceanic and Atmospheric Administration. The Maui wildfires made the list after…
"Let me say that again: cut Social Security by $700 billion.… They want to raise the Social Security retirement age, which means a 13 percent cut in benefits for seniors who retires at age 67. Biden made a number of claims, but we're going to focus on what he said about Social Security. Social Security provides an interesting case study of the nation's current political…
