Access to Federal Reserve Alarms Financial Experts

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According to the Washington Post, notoriously risky cryptocurrency firms may be integrated into the traditional banking system under a little-noticed provision in a new bill that raises alarms among financial experts. Questions When was the bill introduced and what will it allow? What has happened to the digital asset market since early May? What are… Read more »

Roth IRAs for Children

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According to IRS rules, there is no minimum age to open a Roth IRA as long as certain rules are met. Questions: What is probably the most important rule for children to meet? What are some other Roth IRA rules? Does money for a Roth have to come directly from your child’s pocket? What if… Read more »

Largest Penalty Fine Ever by the SEC for Ernst &Young (EY) Cheating

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According to the New York Times, the Securities and Exchange Commission (SEC) said the cheating involved hundreds of EY’s workers from 2017 to 2021, resulted in the largest penalty ever imposed by the agency against an auditing firm. Questions: What amount was the fine imposed by U.S. securities regulators? What were the three (3) charges… Read more »

Trouble Ahead? Bad Economic Week

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Are we headed for a recession? Questions: What is the opinion of Goldman Sachs’ CEO? What did JPMorgan Chase’s CEO say? What did Elon Musk say? What is your opinion and why? Source: Mui, C. (2022). More than 60% of executives think a recession will hit soon, new survey finds. Fortune, June 17 (Retrievable online… Read more »

Attention Cryptocurrency Investors

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According to the New York Times, the fall in Bitcoin was accelerated in recent weeks by the collapse of two major cryptocurrency projects; this sows doubts about the stability of the overall cryptocurrency market. Questions: Bitcoin dropped below $20,000 this week. This is the first time since when? From March 2020 to November 2021, what… Read more »

Attention Zelle Users

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According to the New York Times, when customers say their money was stolen on Zelle, banks often refuse to pay. Questions: What is Zelle? What Federal Rule protects consumers in fraudulent electronic transfers of money? How much money was sent through Zelle and Venmo last year? What is Sim Swapping? What progress has been made… Read more »

Two Sets of Books

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According to the New York Times, a congressional committee looking into wrongdoing within the Washington Commanders N.F.L. franchise referred the case to the Federal Trade Commission. Questions: What did the 20-page letter to the FTC allege? What is the basis of the team’s categorical denial of financial impropriety? If true, what would the allegations mean… Read more »

Fraud and Money Laundering at the Lourve

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Former president and director of the Lourve from 2013 to 2021, Jean Luc Martinez, has been charged with fraud and money laundering in connection with Egyptian artifacts that were trafficked over the past decade. Questions: Under the French legal system, what is ahead for Mr. Martinez? What is Mr. Martinez’s current role? According to Le… Read more »

Who’s on the FORBES AI 50 List this year?

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On Sunday, May 9, Forbes released its fourth annual artificial intelligence (AI) list of the top companies that will shape the future. Questions: As you can see from the list, there is significant breadth and depth of artificial intelligence. Which area do you see as most promising and why? How was the list compiled? How… Read more »

Who Can You Trust in the World of Money Laundering?

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Augustine Osemwegie, the owner of a used car dealership in Fall River, Massachusetts, has pleaded guilty to money laundering. Questions: How was Osemwegie caught? What was the method he used to launder money? Was this his own money? Explain. Source: Media Team of RegXSA. (2022). US-based owner of used car dealership pleads guilty to international… Read more »