Subprime Auto Lender Execs Accused of Fraud
The SEC says the former principals of Honor Finance misrepresented the quality of loans that they packaged into a $100 million securities offering.
GE Buys BK Medical in $1.4B Ultrasound Bet
The acquisition will enable GE Healthcare to expand its ultrasound business "beyond diagnostics into surgical and therapeutic interventions."
Fed Signals Bond-Buying Taper Coming Soon
The Fed's monthly purchases of government-backed bonds to prop up the economy "still have a use, but it’s time for us to begin to taper them."
OECD Urges Caution on Easing Fiscal Support
"A premature and abrupt withdrawal of policy support should be avoided whilst the near-term outlook is still uncertain.”
U.S. Bancorp to Buy MFUG Union Unit for $8B
“The acquisition of MUFG Union Bank underscores our commitment to strengthen and grow our business on the West Coast."
U.S. Slaps Crypto Exchange With Sanctions
In an unprecedented enforcement action, the Treasury Department says Suex OTC facilitated the laundering of illicit proceeds from ransomware attacks.
Coinbase Shelves ‘Lend’ Amid SEC Pushback
Having to scrap the lending program "is a major blow for Coinbase as the firm tries to diversify revenue beyond its trading fees.”
SEC Brings First Crowdfunding Fraud Case
A Michigan businessman and two associates allegedly misrepresented that their crowdfunding offerings would raise money for cannabis real estate investments.
Probe Faults World Bank Over China Ranking
An internal investigation finds management pressured staff to alter data in the bank’s Doing Business report to placate China.
Fed’s Powell Orders Review of Ethics Rules
The move follows the disclosure that Dallas Fed President Robert Kaplan made multiple trades worth $1 million or more last year in individual stocks.
Retail Sales Rebound in August With 0.7% Gain
Consumers delivered an unexpected increase in sales despite the delta variant and supply-chain bottlenecks that have hurt auto production.