More criminals, cartels, human traffickers, terrorists, rogue states, and sanctions evaders are using cryptocurrencies to hide and launder transactions and profits than ever.
The Federal Reserve recently weakened the rating system it uses to supervise the country’s largest banks, making it easier for banks to pursue riskier investments that could imperil the financial system. These ratings help determine whether giant financial institutions are considered “well managed.” Banks that keep that label can pursue acquisitions, take on more risks, and expand into a broader range of activities.
Financial headlines these days are dominated by chaos and uncertainty. Families across the country face soaring prices that have only gotten worse with the war in Iran. Worries abound over an artificial intelligence bubble, oil price shocks, gyrations in crypto, and rising default rates in the private credit markets. And economists have said that we
Last week, the FBI reported that online crypto crime continues to surge and is taking a bigger bite out of people’s pockets than ever.
While people might assume that insurance companies set their property insurance rates solely or primarily by evaluating the risk profile of individual homes, a homeowner’s credit characteristics are often a bigger driver of the price of homeowner’s insurance. As Federal Reserve researchers put it in a new report, insurers often price rates for “who is living in the house rather than the risk of the house.”
Elon Musk’s SpaceX took the first official step to go public yesterday by confidentially filing paperwork with the Securities and Exchange Commission (SEC).