Columbus, OH

Wells Fargo, Morgan Stanley and Bank of America are among a group of Wall Street banks accused of bilking customers out of billions of dollars in interest payments, according to a new report. The U.S. Securities and Exchange Commission is probing the banks to determine whether they purposefully directed clients...

Wells Fargo, Morgan Stanley and Bank of America Accused of Cheating Customers Out of Billions of Dollars in Interest Payments: Report

A total of 94 US banks are at significant risk of experiencing bank runs by uninsured depositors if they show financial weakness, according to a new report. An analysis from Florida Atlantic University finds the billion-dollar banks in question – which include seven US financial giants – have all reported a 50% or higher ratio of uninsured deposits to total deposits.

94 US Banks at ‘Serious Risk’ of Bank Runs, Including BNY, State Street, JPMorgan Chase and Citi: Report

Reuters

NEW YORK (Reuters) - JPMorgan Chase has been accused in a new lawsuit of sweeping customers' idle cash into accounts with "unreasonably" low interest rates. The proposed class action against the largest U.S. bank was filed on Friday night in Manhattan federal court.

JPMorgan Chase is sued over low rates on cash sweeps

TORONTO (Reuters) -TD Bank on Thursday reported its first loss in over two decades after setting aside an extra $2.6 billion to cover expected fines from U.S. regulators which have been probing weaknesses in Canada's second-largest lender's anti-money laundering (AML) controls.

TD Bank posts first loss in over two decades after $2.6 billion hit tied to US probe

It’s another day in the Long March out of China by Western firms. This time around, it’s IBM’s turn. On Monday, the tech giant announced it would be shutting down its Chinese research and development team, shifting some operations to other international locations and affecting around 1,000 employees in the process. At this point, it would have been more surprising had it stayed.

IBM Shutters Its China R&D Division

The U.S. Securities and Exchange Commission (SEC) announced on August 26 that it had filed settled charges against Plutus Lending LLC, doing business as Abra, for allegedly failing to register the offers and sales of its retail crypto asset lending product, Abra Earn. The SEC also alleges that Abra operated as an unregistered investment company.

Abra Settles With U.S. SEC Over Alleged Sales of Unregistered Crypto Securities

Markets Insider

Stocks could see a 1995-like rally after the Fed cuts rates, said Wells Fargo's head of global investment strategy.

Stocks will embark on a run of gains unseen in 30 years after the Fed cuts rates, Wells Fargo strategy chief says

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Gillian May

I’m a former nurse and recovering alcoholic, and I’ve been concerned by the lack of health education given to the general public about the dangers of mixing alcohol with certain medications. The common practice is to place warnings on medications that they should not be combined with alcohol. Although some doctors will provide warnings and some education, they often don’t because education takes up a lot of time in a busy healthcare environment. Plus, many doctors underestimate the ability of patients to retain education. Lastly, discussing this may prompt people to stop taking their vital medications so it becomes a risk/benefit issue.

Opinion: Why You Shouldn’t Mix These Medications With Alcohol

Stock investors should keep at least 20% of their portfolio in cash, according to billionaire investor Mark Mobius.

Investors need to be cautious on stocks because the economy is flashing a warning not seen in nearly a century, billionaire investor Mark Mobius says

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A Fed Interest Rate Cut (0.25%) Is (Probably) Coming in September 2024 -- Here's What It Means for Your Bank Account

Polk County, FL

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Fort Meade, FL

Uncovering Florida

The Polk County Sheriff's Office has made an arrest after conducting an investigation into a case of credit card fraud involving 28-year-old Burger King employee, Kellyn Miley. The incident was discussed in detail during this morning's briefing with Sheriff Grady Judd.

Burger King Employee Caught Using Customer's Credit Card for Food at Former Job

The four largest banks in the US now believe the Federal Reserve is about to cut interest rates amid rising recession fears. A Bank of America economist says a September Fed rate cut is a “virtual lock” following last week’s $6.4 trillion global stock market rout, reports Business Times.

JPMorgan Chase, Bank of America, Wells Fargo and Citi Predict Abrupt Fed Rate Cuts Amid Global Market Turbulence: Reports

Palmdale, CA

By any other name an Amazon driver? Last week, prosecutors for the National Labor Relations Board concluded that a group of 84 unionized Amazon drivers in Palmdale, California are, in fact, employed by Amazon. That may not sound like an especially startling revelation, but implications are potentially huge for the...

A Small Union Win Casts a Big Shadow Over Amazon

New York-based financial giant BlackRock has warned about cryptocurrency scams. Financial behemoth BlackRock has issued a warning about cryptocurrency-related scams on its social media account. "We urge caution in dealing with individuals, websites or social media platforms using our brand and offering training or investments," BlackRock said. BlackRock has stressed...

BlackRock Issues Major Crypto Warning

Maine State

Sagadahoc County, ME

Lewiston, ME

The Maine Monitor

Editor’s note: This story contains references to suicide. When a bill to strengthen Maine’s yellow flag law went into effect earlier this month, Sagadahoc County Sheriff Joel Merry said he felt a sense of relief.

Law enforcement officers can now get a warrant to take someone into protective custody

Chicago, IL

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NewsNinja

Some people have had a flattering experience of being well-over 21 and being carded at a local bar or restaurant. But one woman was more confused than thrilled when it happened at her local Target.

'I have to ask': Target shopper gets stopped by security guard at entrance. She is puzzled as to why

Strong US stock market performance could limit the dollar's downside — even if the Fed is easing, according to Goldman Sachs analysts.

Powell's rate-cut signal hits the US dollar — but strong stock markets could limit the blow, says Goldman Sachs

PYMNTS

MercadoLibre has filed a complaint with Argentina’s competition regulator, alleging that Argentine banks are using an anti-competitive tactic against the company’s FinTech arm, Mercado Pago. In its legal complaint filed with the country’s National Commission in Defense of Competition, MercadoLibre accused the banks of “illegally concentrating” under one...

MercadoLibre Targets Banks in Complaint With Argentina’s Competition Regulator

Denver, CO

David Heitz

More dangerous substances are entering the Denver drug supply, Harm Reduction Action Center warned in a newsletter this week. “The Iron Law of Prohibition posits that as law enforcement becomes more intense, the potency of prohibited substances increases,” HRAC Executive Director Lisa Raville wrote in the newsletter. That is exactly what is happening, she said.

Dangerous substances entering Denver drug supply

There is talk of an emergency rate cut from the Fed following Monday's market meltdown, as Japan recovered most of its losses on Tuesday.

Markets are rebounding after Monday's massive meltdown, making rate decisions harder for the Fed

NewsBreak

Franklin Templeton, TD Bank in Regulators’ Crosshairs

If you can’t pay the fine, don’t (allegedly) do the crime. Regulators are intensifying their focus on two major financial institutions, and potential fines stretching into...

Franklin Templeton, TD Bank in Regulators’ Crosshairs

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