News

Regulation

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.”
Fraud

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.
Global Business

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.
Ethics

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.
The Economy

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.
Regulation

FTC Releases Study of Big-Tech Mergers

The report found that 616 deals of more than $1 million flew "under the radar" of antitrust reporting requirements between 2010 and 2019.
Fraud

Ex-Controller Testifies in Trial of Theranos CEO

So Han Spivey said Theranos provided investors with revenue projections that did not match the reality of its finances.
Fraud

App Annie Fined $10 Million for Misusing Data

The SEC says the mobile data and analytics firm used confidential information from app developers to induce trading firms to become subscribers.
Cash Flow

Facebook Unveils $100M Trade Finance Program

The social media giant will buy invoices from small businesses owned by women and minorities, sparing them the usual wait to be paid by customers.
Regulation

Regulator Hits Wells Fargo With $250M Fine

The OCC says deficiencies in a Wells Fargo loan modification program constituted “reckless unsafe or unsound practices."
COVID-19

Biden Mandates Vaccines for Large Companies

“We’re going to reduce the spread of COVID-19 by increasing the share of the workforce that is vaccinated in businesses all across America.”
M&A

Mastercard to Buy CipherTrace in Crypto Bet

CipherTrace's blockchain analytics tools will be combined with Mastercard's cybersecurity solutions to help businesses identify crypto risks.
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