Tag Archives: CFPB

Your Daily Dose of Financial News

BY: Michael D. Reif | February 7, 2019

Regional lenders BB&T and SunTrust have announced plans to “unite in an all-stock deal” that would value the combined bank at $66 billion. The new lender would be the sixth-largest in the US, and, if allowed, would be created as part of the biggest post-crisis US bank merger – NYTimes and Law360 and WSJ and … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | February 4, 2019

All of that SuperBowling seems to have put activist investor Starboard in the mood for some pizza—specifically, former NFL-partner Papa John’s, which has struggled in the wake of the removal of its founder and namesake John Schnatter – WSJ Goldman Sachs has begun hinting that fallout from its role in the Malaysian 1MDB scandal may … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | December 4, 2018

We’re glad the steak dinner went well, but we’re also still anxiously awaiting actual details about what exactly is covered by the pause in the US/China trade war – NYTimes and Bloomberg The markets were less concerned about the finer points, it would seem – NYTimes and WSJ and Bloomberg DC Federal District Court Judge … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | October 25, 2018

New York has sued Exxon Mobile over its alleged failure to disclose to its shareholder the “expected risk of climate change to its business”—behavior that the state asserts amounts to a “’longstanding fraudulent scheme’ to deceive investors, analysts and underwriters” – NYTimes and CNBC and Law360 Wells Fargo’s chief administrative officer and auditor are out … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | July 27, 2018

Facebook’s disappointing Q2 earnings (and, presumably, some pent-up scandal-fueled anti-‘Book sentiment) sent its stock into freefall yesterday, erasing more than $120 billion from the company’s market value as shares dove down nearly 19% by the closing bell – NYTimes and WSJ and Bloomberg and MarketWatch That dive helped bring down the entire Nasdaq – NYTimes … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | July 19, 2018

OMB official Kathleen Kraninger is likely to face serious questions as she takes to the Hill today to begin confirmation hearings for her surprise nomination to lead the Consumer Financial Protection Bureau. Why? Her lack of any “record or experience in financial regulation,” for one thing – NYTimes and Law360 and WSJ The Journal reacts … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | June 22, 2018

A couple of big-time SCOTUS opinions released yesterday will leave their mark on the financial world— First, the High Court found that internet retailers can be “required to collect sales taxes in states where they have no physical presence,” overruling a 1992 decision that found the Constitution bars states from collecting sales taxes in states … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | June 18, 2018

Theranos founder and ex-CEO Elizabeth Holmes has been indicted on federal fraud charges along with former company president Ramesh Balwani.  The charges come three months after Holmes settled civil charges with the SEC – NYTimes and Law360 Mick Mulvaney’s extended stint as interim CFPB director is finally nearing an end. Next up for the agency … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | June 8, 2018

The Commerce Department on Thursday announced a deal with China that will see the US lift stringent American sanctions on telecom giant ZTE in exchange for ZTE’s payment of a $1 billion fine and allowing the US to “more closely inspect the company” – NYTimes and WSJ and Bloomberg and Marketplace and Law360 Dealbook’s Common … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | June 7, 2018

We’ve begun exploring here the impact that the White House’s Iran deal pullout (and subsequent threat to impose sanctions on Iran’s trading partners) will have on particular EU-based companies (right, Peugeot)?  Now we’ve learned that EU leaders have officially asked the US for exemptions from these sanctions – NYTimes While we’re talking tariffs, it’s worth … Continue reading