Latest Articles

  • Dow Officially Enters Bear Market

    By:
    Chris Gaetano
    |
    Mar 12, 2020
    The Dow Jones Industrial Average is now in full bear market territory as the coronavirus epidemic ravages the global economy, thus ending the longest-running bull market in history. 
  • Administration Promises Tax Payment Relief in Response to Virus

    By:
    Chris Gaetano
    |
    Mar 12, 2020
    The president, speaking last night, said that the Treasury Department will defer tax payments in response to the coronavirus outbreak. 
  • Latest Wells Fargo CEO Contrite at House Hearing, Promises to Do Better

    By:
    Chris Gaetano
    |
    Mar 11, 2020
    At a hearing before the House Financial Services Committee on March 10, Charles W. Scharf, the latest CEO of scandal-ridden bank Wells Fargo, conceded that the company culture was broken and the business model flawed.
  • Trouble Brewing in Corporate Bonds as Coronavirus Slams Economy

    By:
    Chris Gaetano
    |
    Mar 11, 2020
    While fluctuations of the stock market have grabbed most of the headlines, the corporate bond market has begun to send some dire warnings, especially after Monday's oil rout. 
  • White House Calls for Payroll Tax Cut as Balm to Soothe Virus Impact

    By:
    Chris Gaetano
    |
    Mar 10, 2020
    With markets volatile at best and plunging at worst, the White House has called for a payroll tax cut to help stimulate the economy and assist workers whose jobs have been affected by the coronavirus epidemic. 
  • CFPB Lawsuit Charges Cincinnati Bank with Wells Fargo-esque Abuses

    By:
    Chris Gaetano
    |
    Mar 10, 2020
    The Consumer Financial Protection Bureau has filed suit against Cincinnati-based Fifth Third Bank for signing up customers for financial products with neither their knowledge nor consent, in a set of circumstances extremely similar to what happened at the larger Wells Fargo bank.  
  • Regulatory Roundup - March 3-9

    By:
    Chris Gaetano
    |
    Mar 9, 2020
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYSSCPA's regular series that collects relevant regulatory announcements from the past week, and puts them in one place to help you stay on top of the issues.
  • Wells Fargo Chair Abruptly Resigns Over Phantom Account Scandal

    By:
    Chris Gaetano
    |
    Mar 9, 2020
    Elizabeth A. Duke, chair of embattled bank Wells Fargo, has resigned her post in response to growing congressional anger over the bank having engaged in abuses against its customers by opening up millions of checking and credit card accounts without their knowledge or consent. 
  • IRS Taps Criminal Investigations Veteran to Lead New Fraud Enforcement Office

    By:
    Chris Gaetano
    |
    Mar 9, 2020
    The IRS has selected Damon Rowe, a longtime veteran of its Criminal Investigations Division, as the head of its new Fraud Enforcement Office. 
  • Poll Finds Leaders Overestimate How Inclusive Their Firm's Culture Feels to Employees

    By:
    Chris Gaetano
    |
    Mar 6, 2020
    A recent poll has found that company leaders really don't know what their employees are thinking when they talk about how inclusive and supportive their firm culture is, as they believe that employees like their work environment a lot more than they actually do.