INN Daily Newsletter INN Insider Only

INN Insider News RSS Get our newsletter

According to an Erie email, on Aug. 23 a U.S. District Court judge issued a ruling in the town's favor in Erie's lawsuit against National Union Fire Insurance Company. Judge Daniel D. Domenico ruled the money stolen in the 2019 fraud scheme resulted from direct use of a computer and triggered the town's computer-fraud insurance coverage with National Union.

Fed likely won't change key rate. Since Federal Reserve officials last met in July, the economy has moved in the direction they hoped to see: Inflation continues to ease, if more slowly than most Americans would like, while growth remains solid and the job market cools. U.S. stocks drifted in quiet trading as Wall Street made few big moves overall in advance of the…

Baby boomers who haven't retired yet, as well as early Gen X-ers, are looking at Washington, DC, with some apprehension. The 176-member House Republican Study Committee (RSC) approved a fiscal blueprint in June 2023 to increase the full retirement age to 69 for those turning 62 in 2033. This measure, along with others, would reduce the number of Americans collecting Social Security…

The fact that home values have soared in recent years is a bad thing for today's buyers. But it puts existing homeowners in a stronger financial position. U.S. homeowners are now sitting on almost $30 trillion in home equity collectively, according to the St. Louis Federal Reserve. That amounts to roughly $200,000 per homeowner in tappable equity — meaning, the amount of equity…

The labor market finds a balance in the United States, inflation picks up but moderately: these two ingredients lead the market to expect the Federal Reserve to keep its benchmark interest rate unchanged at its meeting this week. Spending "modest" Fed Chairman Jerome Powell will hold his regular press conference on Wednesday after learning of the FOMC's…

Mark Cuban, billionaire and owner of the Dallas Mavericks, is no stranger to the realms of technology and innovation. Despite his tech-savvy credentials and enthusiasm for blockchain and cryptocurrencies, Cuban became a victim of a crypto scam, losing roughly $870,000. It’s an interesting change from a previous crypto venture, where Cuban was accused of defrauding investors in an…

Sep. 13— Syed Rizwan Mohiuddin, a Houston businessman who oversaw operations at United Memorial Medical Center, the embattled hospital that garnered nationwide attention in the early days of the pandemic, pleaded guilty Wednesday to a charge of conspiracy to defraud the United States. The charge, which stems from a 2010 business deal, carries a maximum sentence…

An Essex County real estate investor admitted on Wednesday, Sept. 6, to his involvement in a $1 million mortgage fraud scheme, according to authorities. Investigators also said they received more than $1 million in loans from lenders, resulting in loan defaults and more than $1 million in potential losses for the lenders and the U.S. Department of Housing and…

Data: U.S. Bureau of Labor Statistics, FactSet; Chart: Axios VisualsYesterday's inflation data came in a touch hot — and you can blame your car.What's happening: Auto insurance prices for American consumers are rising at their fastest pace in more than 40 years. And gasoline prices, as measured by the Consumer Price Index, surged almost 11% in August alone, on the back of rising…

Iowa's disenrollment of about 120K residents from Medicaid since April is factoring into record requests for humanitarian help, a metro health organization and multiple food assistance networks tell Axios.Why it matters: The domino effect comes as federal officials warn state Medicaid directors that some recipients who were terminated from the program shouldn't have been.Catch up…

Federal Reserve officials say they have no intention of lowering interest rates until they see convincing evidence that inflation is retreating back to their 2 percent target.. “There are promising developments, but given the continued strength in demand, my view is that it is just too early to take the recent improvements as evidence that inflation is on a…

But according to financial advisor Heather Ettinger, we are currently in a unique situation in which sitting on some cash for a short time period is not the loss that it used to be. As she explained to CNBC, the multiple rate hikes that the Federal Reserve made to combat inflation over the last year bring the federal funds target rate range to between 5.25% and 5.50%.

A federal jury in February found State National Insurance Co. in breach of contract for denying coverage of a legal malpractice claim against a Mansfield real estate attorney, but a judge recently ruled that’ s all for naught when it comes to the injured client collecting her $1.1 million verdict as assignee of the policy. In 2018, plaintiff Joan Stormo made her…

A-list stars have been out in force snapping selfies on picket lines in the bright California sun, but it's the people who may have never walked the red carpet who are forgoing a paycheck and potentially their health insurance as the negotiations drag on and work dries up. Often referred to in hushed, reverent tones as the " Cadillac of health insurance" by those who…

United States Attorney for New Jersey Philip Sellinger announced that Christopher Anderson, 47, of Flemington, and Richard Curry, 36, of Northumberland, Pa., each pleaded guilty to a charge of conspiracy to commit securities fraud. Prosecutors say the alleged scheme, which NJBIZ reported on last month, was spearheaded by Eliyahu "Eli" Weinstein, 48, of Lakewood,…

As Chris Varley locked in a 5.5% mortgage interest rate in April for three months, he knew the clock was ticking. His family stretched the house hunt from Kittery, Maine, to Marion, Massachusetts, to find a suitable home to move to from Cleveland, Ohio, so they can be near family and friends. The Federal Reserve has raised rates by 5.25 percentage points since March 2022…