banks Archives - Media City Groove

Sunday, December 22, 2024

By Fronnie Lewis Sunday, December 22, 2024

Three major banks sued for fraud by the Consumer Financial Protection Bureau

A government agency that protects consumers has sued JPMorgan Chase, Bank of America, and Wells Fargo. The three major banks and the operator of Zelle, a popular payment app, were sued last Friday, December 20. The Consumer Financial Protection Bureau accused them of allowing fraud to fester on Zelle’s peer-to-peer network. The CFPB says shoddy safeguards on the network […]

Saturday, December 5, 2009

By Fronnie Lewis Saturday, December 5, 2009

President Obama talks about those upbeat job figures, the economy, and where we go from here

Photo: Pete Souza/The White House 12/03/09 President Barack Obama gets it. The economic recovery will not really hit home for many until the sluggish job market is revitalized. Yesterday, the Labor Department reported the national unemployment rate took a surprising dip to 10 percent in November— the best it’s been since December of 2007. Companies laid off 11,000 workers last month, compared to 111,000 […]