In a surprising turn of events, Reserve Bank of New Zealand Governor Adrian Orr has announced his resignation without providing a reason for his abrupt exit. The announcement […]
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Reserve Bank of New Zealand’s Governor Resigns After Seven Years of Service
Adrian Orr, the Governor of New Zealand’s central bank, has announced his resignation effective at the end of the month after seven years in the role. Christian Hawkesby, […]
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CFPB Drops Lawsuit Against Banks Over Zelle Scams
The Consumer Financial Protection Bureau (CFPB) has withdrawn a significant lawsuit against three major U.S. banks concerning alleged inadequate safeguards on the Zelle money transfer network. Filed during […]
Banks
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Goldman Sachs to Cut 3% to 5% of Workforce in Annual Layoffs
Goldman Sachs, under the leadership of CEO David Solomon, is set to lay off between 3% and 5% of its global workforce. This decision, which affects over 1,395 […]
Banks
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CFPB Drops Lawsuit Against JPMorgan Chase, Bank of America, and Wells Fargo Over Zelle Fraud
The Consumer Financial Protection Bureau (CFPB) has dismissed its lawsuit against Early Warning Services, the operator of the Zelle payments network, along with JPMorgan Chase, Bank of America, […]
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US CFPB drops Zelle case against JPMorgan, BofA, Wells Fargo
March 4 (Reuters) – The U.S. Consumer Financial Protection Bureau (CFPB) informed a federal court on Tuesday that it was dropping a lawsuit filed in December against JPMorgan […]
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SEC Dangles $50,000 Incentive for Employees to Resign or Retire
The U.S. Securities and Exchange Commission (SEC) is offering eligible employees a $50,000 incentive to resign or retire by April 4, according to an email reviewed by Bloomberg. […]
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Citigroup Briefly Makes Customer the Richest Person in History With Mistaken $81 Trillion Transfer
In April of the previous year, a Citigroup employee mistakenly initiated a fund transfer of $81 trillion to a customer’s account, an amount that would have made them […]
Banks
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‘Alarming’: Trump CFPB Drops Cases Against Companies Accused of Cheating Consumers
Consumer advocates have criticized the Trump administration for dropping enforcement actions against companies accused of fraudulent activities. The Consumer Financial Protection Bureau (CFPB), under temporary leader Russell Vought, […]
Banks
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Citi’s $81 Trillion Inputting Error Underscores Ongoing Operational Challenges
Citigroup recently encountered an operational mishap involving an $81 trillion ‘inputting error,’ although no funds were actually transferred out of the bank. This incident follows a series of […]