News

Regulation

Supreme Court Rejects Fannie Mae, Freddie Mac Investors’ Claims

But the Court said the plaintiffs could seek remedy on the part of their lawsuit that argues the FHFA's structure was unconstitutional.

Source: Benzinga
June 23, 2021
The Economy

Fed Officials See Inflation Surge Lasting Longer

"Temporary is going to be a little longer than we expected initially ... Rather than it being two to three months it may be six to nine months."
Cash Management

Goldman Sachs Tests Tokenized Treasury Bonds

The investment bank swapped swapped a tokenized version of a U.S. Treasury bond for JPM Coin — JPMorgan Chase’s stablecoin.
The Economy

Equipment Finance Borrowings Jump 20% in March

"Even more robust demand for financing is being constrained by supply chain shortages in several economic subsectors."
Fraud

Mutual Fund Operators Accused of $100M Fraud

The SEC says Ofer Abarbanel and Victor Chilelli misappropriated investor funds to buy Treasury securities for themselves.
Capital Markets

Lordstown Motors May Run Out of Gas

The electric vehicle pickup truck maker issued a "going concern" warning, disclosing it didn't have the funds to start commercial production.
Cybersecurity

AM Best Warns of ‘Grim’ Future for Cyber Insurers

The increase in cyber losses outstripped rate hikes last year, suggesting "more trouble for 2021 as ransom demands continue to grow."
The Economy

U.S. Home Sales Slide Again Amid Low Supply

"Lack of inventory continues to be the overwhelming factor holding back home sales," the National Association of Realtors says.
The Economy

Small Business Hiring Continues to Lag in May

"Small business owners are struggling at record levels trying to get workers back in open positions."
Credit

Fed to Unwind Emergency Corporate Bond Program

The Federal Reserve’s first foray into corporate debt "proved vital in restoring market functioning" during the COVID-19 pandemic.
M&A

Cloudera to Go Private in $5.3 Billion Deal

The company is betting that private equity investment will boost its turnaround efforts in the competitive data management software space.
IPOs

Acorns to Go Public Through $2B SPAC Deal

“Now was the time to go public to accelerate our growth and get the tools of responsible wealth-making in everyone’s hands as fast as possible."
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