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At their May meeting, Federal Reserve officials were divided on whether further interest rate increases would be needed to reduce inflation, amid heightened uncertainty about the impact of banking sector stress on the economy. But the economy, labor market and price pressures have proven more resilient than expected, although banking sector strains…

Prosecutors with the U.S. Attorney's Office for the Eastern District of Missouri said Brittish "Cierrah" Williams, 33, pleaded guilty to five counts of misuse of a Social Security number, four counts of bank fraud, three counts of making false statements to the IRS, and three counts of wire fraud. Williams used Social Security numbers that were not hers to open…

The U.S. Securities and Exchange Commission ordered Integrated National Resources Inc., doing business as WeedGenics, and its owners, Rolf Max Hirschmann and Patrick Earl Williams, to stop an alleged ongoing offering fraud and Ponzi-like scheme. Hirschmann and Williams, who raised over $60 million from investors to expand their cannabis operations, allegedly utilized the majority…

St. Louis Federal Reserve Bank President James Bullard believes the Fed will have to raise interest rates twice more this year to control inflation. Bullard, known for being a hawk on monetary policy, does not vote this year on decisions made by the Fed's Federal Open Market Committee, which decided on May 3 to unanimously approve a 25 basis point increase in the…

Data: Federal Reserve; Chart: Axios VisualsThe share of Americans who skipped medical treatment last year because of costs rose substantially from the lows of 2020 and 2021, per a Federal Reserve Survey out Monday.Why it matters: The ability to afford health care often translates into better health. The survey also found that in families with income less than $25,000, 75% reported…

The Securities and Exchange Commission (SEC) has outlined charges against Red Rock Secured LLC and three individuals regarding an alleged fraudulent scheme targeting investor retirement accounts.© Shutterstock The SEC complaint alleges El Segundo, California-based Red Rock Secured LLC, its CEO, Sean Kelly and two of its former Senior Account Executives, Anthony Spencer and Jeffrey…

On Tuesday, May 30, the CEO of Theranos will turn herself in to serve a sentence of just over 11 years in prison. Sentenced on 4 counts since January 2022 for conspiracy and fraud, her entry into a federal prison in the United States will conclude one of Silicon Valley's most scandalous cheating cases, specifically in the clinical trial industry.

USA social security card and a Medicare health insurance card. Getty Images.WASHINGTON — A U.S. default on its debt would have a significantly broader impact on federal operations, financial markets and the global economy than recent government shutdowns that have left ordinary Americans largely untouched. While the two have been confused frequently during debate over the debt…

In addition, the Federal Reserve has raised interest rates. According to a recent study by MyLendingTree, a real estate company that focuses on buying and selling, refinancing and insurance, Georgia and Maryland top the list of states where people have the hardest time dealing with their personal liabilities. In the former, the average person has $45,778 in…

On May 11, the Minnesota Supreme Court disbarred longtime personal injury attorney Bradley Ratgen. He operated Ratgen Personal Injury Law Firm LLC in St. Paul. In June 2015, a confidential informant with the Minnesota Commerce Fraud Bureau contacted a person known to be a“ runner,” or a person who recruits people who have allegedly been injured in car accidents to…

Providers who had their hands full treating COVID patients stopped doing routine procedures and nonemergency operations, while many members stayed away because of fear of infection. That’s why health insurers must pay members $1.1 billion in premium rebates this year.

What happened  Wells Fargo has agreed to a preliminary settlement for a lawsuit filed by a group of shareholders that has been in litigation for three years. The plaintiffs claim the bank inaccurately portrayed its progress in recovering from a recent series of scandals involving customers, including opening fraudulent accounts. This claim was substantiated by a report from the…

One Michigan lawmaker plans to introduce a bill that would stop health insurance companies from using copay accumulators. But will it help patients?

U.S. credit-card debt appears to be stubbornly holding near $1 trillion, the Federal Reserve Bank of New York said in its quarterly report on household debt and credit Monday. In the fourth quarter, when credit-card debt tends to rise due to holiday shopping, credit-card balances hit a whopping $986 billion, surpassing pre-pandemic levels, the New York Fed said in a previous…

A jury found three former executives of Aequitas Capital guilty of multiple counts of fraud and conspiracy charges related to the financial firm’ s 2016 collapse. Prosecutors accused Bob Jesenik, company founder and chief executive officer, and two other senior executives, Brian Rice and Andrew MacRitchie, of lying to investors about the safety of the…

Kevin Stitt and state Treasurer Todd Russ against a range of progressive policies, state officials met with BlackRock representatives this week to discuss the firm's ban from doing state business. The investment giant will lose access to funds it manages for the state's public retirement system because of a state law passed by GOP lawmakers and signed by…

Michigan Attorney General Dana Nessel and Director Anita Fox from the Department of Insurance and Financial Services announced a criminal enterprise and related charges against. six individuals who are accused of auto insurance fraud and taking advantage of Michigan residents who were in auto accidents.. "I am grateful for the work of the fraud…

Larry Cook, 76, wired $ 3.6 million to possible scammers abroad. The bank reported him to adult protective services, but continued wiring his money.

The five-week fraud trial of three former executives of Aequitas Capital, which went to the jury after Wednesday’ s closing arguments, offered a compelling example of what attorneys call the“ two-prosecutor” dilemma. Defendants Bob Jesenik, Andrew MacRitchie and Brian Rice found themselves pitted against not only federal prosecutors but also officials who…