In 2020, amid a global reckoning for racial justice, the largest Wall Street banks make public pledges to better serve communities of color. But their recent lawsuit to overturn the enforcement of the updated 1977 Community Reinvestment Act starkly undermines the principles they claim to champion.
Today, Sam Bankman Fried – known as SBF, the founder of crypto firm FTX; the once exalted face of the crypto boom, and now the poster child for crypto scandals – was sentenced to serve 25 years in prison, after being found guilty of seven counts of fraud in a jury trial last year. The presiding judge found SBF, in addition to his other charges, had committed perjury and witness tampering during his trial as well.
Financial institutions like insurers, banks, and mortgage lenders, might raise prices or simply withdraw from major markets they deem environmentally risky. If that sounds trivial, consider that in the case of property insurance we’re already seeing these exclusions cover entire states.
Physical risks from climate change are growing, and the pace is accelerating. In 2023, the United States set an unfortunate record by experiencing 28 weather and climate disasters that each inflicted over $1 billion in damage.
The Federal Trade Commission (FTC) announced its final rule targeting deceptive conduct in the sale and financing of motor vehicles, titled the “Combatting Auto Retail Scams” (CARS) Rule. The rule holds great promise, safeguarding consumers and promoting transparency within the motor vehicle industry. This crucial regulation is poised to bring much-needed protection to car buyers
On November 29th and 30th, the Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra will testify before Congress regarding the Semi-Annual Report of the CFPB.