Light Snow 32°
Tag:

Federal Reserve

Business
American Express To Pay $230M For Misleading Small Business Customers American Express To Pay $230M For Misleading Small Business Customers
American Express To Pay $230M For Misleading Small Business Customers American Express said it will pay $230 million to resolve federal investigations into deceptive sales tactics and recordkeeping violations involving small business credit card and wire transfer products. The credit card company agreed to pay a $108.7 million civil penalty, the Department of Justice said in a news release on Thursday, Jan. 16. The settlement resolved claims against American Express of deceptive marketing and "dummy" account information. American Express was accused of engaging in unlawful sales tactics and falsifying records between 2014 and 2021. "When financial companies …

SHARE

by Chris Spiker
Real Estate
DC Home Of Alice Rivlin Hits Market At $6.6M DC Home Of Alice Rivlin Hits Market At $6.6M
DC Home Of Alice Rivlin Hits Market At $6.6M If you are looking for a home grounded in the nation's budget and economic history, 2838 Chesterfield Place NW in Washington DC could be your best bet. The $6.6 million home is nestled in the highly coveted and secluded Forest Hills neighborhood, and was once owned by the late Alice M. Rivlin, a former economist and 16th vice chair of the Federal Reserve. Before her appointment to the Federal Reserve, Rivlin was director of the Office of Management and Budget. Originally built in the 1950s, the home is suited for both grand entertaining and private relaxation. It overlooks Rock C…

SHARE

by Jon Craig
News
Wall Street Investor With NJ Tie Predicts Economic Downfall Wall Street Investor With NJ Tie Predicts Economic Downfall
Wall Street Investor With NJ Tie Predicts Economic Downfall A Virginia-raised investor with a tie to New Jersey is going viral for his recent prediction on the status of the economy. “The economy is going to collapse,” Novogratz said in a Wednesday, June 15 interview with MarketWatch. “We are going to go into a really fast recession, and you can see that in lots of ways.” The Princeton University graduate's remarks came shortly before the Federal Reserve raised rates by 0.75 percent in an attempt to reduce inflation without going into a recession. Novogratz, CEO of cryptocurrency investment firm Galaxy Digital, cited layoffs in …

SHARE

by Nicole Acosta