Tag Archives: Justice Department

Financial Daily Dose 10.9.2020 | Top Story: New Jobless Claims Top 800,000 Again As U.S. Recovery Stalls

BY: Michael D. Reif | October 9, 2020

Yesterday’s jobless numbers were down a bit from a week earlier but still topped 800,000 for the 4th week in a row. “Claims remain above the pre-pandemic peak of 695,000 and are higher than in any previous recession for records tracing back to 1967” – WSJ and Marketplace and NYTimes We’ve been talking in the … Continue reading

Financial Daily Dose 10.8.2020 | Top Story: Feds fine Citi $400M over “Longstanding” Governance Failures

BY: Michael D. Reif | October 8, 2020

Federal regulators—including the Federal Reserve and the OCC—have fined Citigroup $400 million over “longstanding” failures in the areas of risk management, data governance, and internal controls. In addition to the fine, the OCC will require Citi to seek its approval before making even minor acquisitions of credit-card portfolios or non-bank companies  – Law360 and WSJ … Continue reading