US regulators are flagging JPMorgan Chase, Bank of America, Citibank and Goldman Sachs over the banks’ contingency plans for trillions of dollars in derivatives. The Federal Reserve and Federal Deposit Insurance Corporation (FDIC) say the lenders’ so-called “living wills” – which in part detail how banks could safely unwind their derivatives portfolios without requiring government assistance – are inadequate, reports Reuters.

JPMorgan Chase, Bank of America and Citibank Flagged for Holding Trillions of Dollars in Derivatives Without Proper Contingency Plans: Report

California State

Silvergate Bank's parent company settled charges with the Securities and Exchange Commission, Federal Reserve and California Department of Financial Protection and Innovation alleging it failed to maintain a proper anti-money laundering program and made misleading disclosures about the program's effectiveness. The SEC also charged Silvergate's former executives. Former CEO Alan...

Crypto-Friendly Silvergate Bank Pays $63M to Settle Charges With SEC, Fed, California Regulator

The Ripple lawsuit might be finally approaching its long-awaited resolution. According to Ripple CEO Brad Garlinghouse, his company is approaching the very end of its long-lasting legal battle with the SEC. "Why did the SEC go after XRP kind of first…? You know, in some ways, you look at that...

Ripple CEO Names Most Important Date for XRP Holders

Axios

The parent company of now-defunct crypto bank Silvergate has agreed to pay $63 million to settle a lawsuit from the Securities and Exchange Commission and accusations brought by the Federal Reserve Board and California regulators against the bank and former executives. Why it matters: The SEC's suit has to do...

SEC sues Silvergate parent and execs over Bank Secrecy Act violations

In the past month, branches from major American banks such as Wells Fargo, Chase, and Bank of America have shut down across various states. This wave of closures comes as many customers manage their finances online, reducing the need for physical bank locations. In just six weeks, 79 branches of...

Bank of America and Wells Fargo Among 79 Banks Closing Branches as Customers Shift to Online Banking

Cava Group's shares doubled over the last year and could follow in Chipotle’s footsteps. Dutch Bros’ flavorful menu of coffee and other beverages is winning over customers. These stocks could grow your savings toward a happy retirement. Finding successful consumer brands while they are small is one of...

2 Stocks That Could Be Easy Wealth Builders

Markets Insider

"The bar for being short equities right now is very high given these upcoming flow and random market dynamics," Goldman Sachs' Scott Rubner said.

Stocks are about to hit a 'wall of money' that will drive the market to record highs in July, Goldman Sachs says

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NewSantaAna

The FBI has seen a rise in scams targeting timeshare owners. In this kind of scam, criminals con these part-time property owners into shelling out hefty sums of cash, all under false pretenses related to their timeshare properties.

FBI warns that Mexican cartels are targeting Americans with timeshare scams

You generally need to demonstrate sufficient income to buy a house, but it is possible to buy a home with no income. You’ll need to prove to a lender that you can afford the mortgage payments in other ways, such as by paying with assets, or you’ll need to buy the house with all cash. Learn more about how to buy a house with no income.

How to Buy a House With No Income

Earning the highest rates on savings and CDs usually requires going with smaller and medium-sized banks and credit unions. But a few big-name banks pay a respectable APY—if you shop around. An even more select group of large U.S. banks offer both a savings account rate in the 4-5%...

These Big Banks Pay the Best Savings Account Rates Right Now—With Good CDs, Too

Newark, NJ

Morristown Minute

NEWARK, N.J. – Eight individuals associated with the "793 Bloods" street gang, a subset of the national Bloods gang, have been charged for their roles in a Newark-based drug trafficking organization, U.S. Attorney Philip R. Sellinger announced.

Eight '793 Bloods' Gang Members Charged in Newark Drug Network

The average 30-year mortgage rate has moved up to 6.99%. Rates have wavered in upper-6% territory all of June, but ended the month with a one-week march upwards. Most other mortgage types also saw moderate increases across the week. National Averages of Lenders' Best Mortgage Rates. Loan Type New Purchase...

Mortgage Rates Inch Up for a Fifth Day

Georgia State

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Coffee County, GA

Douglas, GA

Daily Coffee Press

A 49-year-old woman from Douglas was recently arrested for allegedly submitting a life insurance policy for her ex-husband without his knowledge. According to a Coffee County Sheriff’s Office incident report, detectives met with a man on May 7 at the Coffee County Law Enforcement Center concerning a reported case of insurance fraud.

Georgia woman charged for allegedly filing life insurance policy application on ex-husband

According to value investor Bill Miller IV, Bitcoin looks like a classic value investment. Despite recently hitting a new all-time high, Miller says Bitcoin may still be significantly undervalued. Even at a $1.3 trillion market cap, Bitcoin may be worth much more. Even at its current market cap of $1.3...

1 Top Cryptocurrency to Buy Before It Soars Another $1 Trillion in Market Cap, According to Value Investor Bill Miller IV

New Jersey State

NEW JERSEY - Attorney General Matthew J. Platkin and the Division of Consumer Affairs announced today that Walmart has agreed to pay $1.64 million to settle allegations of unlawful unit pricing practices across its 64 New Jersey retail stores. The settlement, which includes a $1.61 million civil penalty, marks the largest ever obtained by the Division’s Office of Weights and Measures (OWM).

Walmart Pays $1.64M Settlement for Unlawful Pricing in NJ

Kiplinger

The $3.2 billion all-cash deal will expand BlackRock's footprint in the fast-growing private markets data segment. Here's what you need to know.

What BlackRock's Acquisition of Preqin Means for Investors

Chicago, IL

Your article was successfully shared with the contacts you provided. A former jet-setting Chicago billionaire was sentenced to seven and a half years in prison for a $1 billion fraud at an advertising startup that included investors such as Goldman Sachs Group Inc., Google parent Alphabet Inc. and Illinois Governor JB Pritzker’s venture capital firm.

Ex-Billionaire Gets 7 1/2-Year Sentence for Defrauding Investors Goldman, Google

Reuters

LONDON (Reuters) - The Bahamas, the first country in the world to issue a central bank digital currency (CBDC), is now preparing regulations that will require commercial banks to provide access to the e-money in a bid to stimulate adoption, its central bank governor told Reuters.

Bahamas to regulate banks to offer cbank digital currency

The Guardian

Exclusive: Rise in dealmaking likely to be reflected in spring bonus season as interest rate hike cycle ends

London investment bankers to rake in bigger bonuses after two-year slump

Missouri State

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CJ Coombs

The first time my family walked into a Ponderosa Steakhouse was in the late 1960s. It was new and the experience was great. Like other new restaurants, if the management doesn't stay on top, the quality of service can decline. The location we went to did change through the years, but in the beginning, it was great.

The 1960s: the Ponderosa and Bonanza Steakhouses are still around in some states

NewsBreak

Regulators Fine Silvergate Bank For Misleading Investors in FTX-Linked Case

Regulators such as the SEC and Federal Reserve fined Silvergate Capital for misleading investors and breaking anti-money laundering rules. The company allegedly misled investors about the...

Regulators Fine Silvergate Bank For Misleading Investors in FTX-Linked Case

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