A pandemic-era temporary auto insurance regulation that has returned more than $26 million to Nevada drivers is set to expire later this year. The Nevada Division of Insurance estimated this regulation provided $26.7 million in refunds to more than 195,000 policyholders in Nevada who were improperly charged. The expiration of this regulation may not…
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Byline: Michael Sasso Bloomberg News. The wealth of the typical U.S. senior climbed by about $91,000 during the pandemic years as home and stock values soared, new research shows. That was the median increase in net worth between 2019 and 2022 for households headed by someone age 65 or older, according to research from the Federal Reserve Bank of St. Louis, using data…
Two Columbia, Missouri residents were sentenced in federal court on March 6 for their roles in a $1.1 million insurance fraud scheme that involved false claims of injuries suffered in faked car accidents. Michael Lee Gene Stapleton, 37, and Latoya Marie Brown, 37, were sentenced in separate appearances before U.S. This case stems from a long investigation by…
A Monmouth County man was charged Friday with allegedly defrauding at least 30 victims of more than $5 million in a decades-long scheme. Vincent Dispoto Jr., 66, of Belmar, was charged with one count of wire fraud, U.S. Attorney Philip R. Sellinger said Friday. Dispoto owned and operated Giddeon Financial Services, a purported investment services firm, and Liberty…
The December 2020 claim of voter fraud was explosive, if true: More than 700,000 people had voted twice in Wisconsin, the tip alleged. The expert, Ken Block, learned it had first appeared in a post on a website called TheDonald.win, where it was spotted by the owner of an IT company, who brought it to the attention of the general manager of Trump's golf course in the Bronx.
"The people who are getting hit the hardest are the people with scores of 670 or lower." Interest rates have spiked dramatically since 2022, as the Federal Reserve battles inflation. According to the new Bankrate survey, the odds of getting approved for a loan today amount to a coin flip.
Cooling inflation is setting the stage for the Federal Reserve to cut interest rates after a series of hikes that began in 2022 and lasted well into 2023. At its last few meetings, the Fed held interest rates steady. And while the central bank is not expected to cut interest rates at its upcoming March meeting, the Fed has signaled that interest rate cuts are likely in store for…
T he U.S. economy does not appear to be close to falling into recession, Federal Reserve Chairman Jerome Powell said yesterday, indicating that it is not yet clear when the central bank might cut interest rates. In his appearance before lawmakers, Powell said that "there is no evidence, there is no reason to think, that the U.S. economy is, in any kind of near-term risk, of…
David Scott Cacchione, a Bay Area man who served five years in federal prison for a 2009 securities fraud conviction and was barred from employment as an investment broker or adviser, has been charged with another investment-related crime. But instead of buying receivables, they used the money for personal expenditures and to pay off other investors,…
Congress should provide Medicaid-like coverage to those living in the 10 states holding out on expanding Medicaid and forbid states from kicking enrollees younger than 6 years old off Medicaid due to paperwork issues, President Joe Biden is expected to ask lawmakers during his State of the Union address Thursday. Research shows that when children have…
President Joe Biden is expected in his State of the Union address to a joint session of Congress on Thursday, March 7, 2024, to discuss taxes, housing and so-called junk fees. In this photo, Biden delivers his State of the Union address at the U.S. Capitol on Feb. 7, 2023, as Vice President Kamala Harris and former House Speaker Kevin McCarthy., R-Calif., listen. Photo by Jacquelyn…
The Federal Reserve is in no rush to cut interest rates. Federal Reserve chairman Jerome Powell testified before a house committee Wednesday, celebrating a slowdown in inflation. "The economic outlook is uncertain," Powell told the House committee on Monetary Policy Wednesday as part of his semiannual testimony to Congress.
Nationwide, Americans lost over $10 billion to fraud and scams, with Colorado residents losing $164.2 million. The FTC also breaks down data on fraud and other reports by metro area. The median amount each victim lost to scammers was $500, the FTC reported.
FRITCH— Many Panhandle residents whose dwellings and possessions burned in the region's ongoing wildfires may never financially recover for one simple reason: Their homes weren't insured. In Texas, those without insurance are also more likely to be those who have a harder time recovering from disaster: lower-income households and rural residents.
Jerome Powell, the chairman of the Federal Reserve, insisted that the U.S. central bank will not be ready to cut the country's benchmark interest rate until there is greater confidence that inflation is making steady progress toward its 2% target. The central banker will speak today before the U.S. House Financial Services Committee as part of a bimonthly…
Crestbrook Insurance Co., a subsidiary of Nationwide, is the latest insurer to withdraw home coverage from California, according to public filings. Crestbrook stopped writing new policies in December, according to documents filed with the Department of Insurance. As of 2022, Nationwide was the 14th largest insurer in California with about a 2.4% market…
Thomas Nicholas Salzano, 65, of Secaucus, pleaded guilty in Newark federal court on Tuesday to securities fraud, conspiracy to commit wire fraud and conspiracy to defraud the United States, the U.S. Attorney’ s Office District of New Jersey said. Salzano concealed his managerial role at the Secaucus- based firm in order to hide his history of fraud from potential…
Social Security benefits for millions of people will rise by an average of over $50 a month starting in January, thanks to the Social Security Administration's 3.2% annual cost of living adjustment for 2024, announced on Oct. 12. The COLA has been relatively volatile in recent years, however, and future retirees are understandably concerned about the health of…
California’ s unemployment insurance fund is $20 billion in debt, putting the state in a terrible position in case of a recession. Now the situation is more dire, with the Employment Development Department issuing a spring forecast that the debt— which the Legislative Analyst’ s Office has said does not include the infamous unemployment fraud that mostly…