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Category Archives: Financial System

Financial Institutions: Fines, Penalties, and Forfeitures for Violations of Financial Crimes and Sanctions Requirements

“Since 2009, financial institutions have been assessed about $12 billion in fines, penalties, and forfeitures for violations of Bank Secrecy Act/anti-money- laundering regulations (BSA/AML), Foreign Corrupt Practices Act of 1977 (FCPA), and U.S. sanctions programs requirements by the federal government. Specifically, GAO found that from January 2009 to December 2015, federal agencies assessed about $5.2Continue Reading

Growth in Personal Income Shows Uneven U.S. Recovery

Pew Charitable Trusts: “One of the longest U.S. economic expansions in history has lifted personal income in all states. But growth has varied, from a constant annual rate of less than 1 percent in Nevada to more than 5 percent in North Dakota since the start of the Great Recession. A handful of states, though,Continue Reading

Economist and Time Websites blocked in China

New York Times: “The Economist and Time have joined the list of foreign news websites currently blocked in mainland China. The sites appear to have been censored as a result of recently published cover articles in the magazines critical of the growing power of China’s president, Xi Jinping. According to, a website that tracksContinue Reading

Report – In Six States, Immigration Relief Takes Over 1,000 Days on Average

“Despite the recent appointment of new immigration judges, the Immigration Court’s backlog continues to rise each month. The latest figures show that at the end of March the number of pending cases had reached 486,206. The ballooning backlog has many implications; this month TRAC is spotlighting what our overloaded court system means for individuals seekingContinue Reading

Earth Day – April 22 – Earth Day Network

“Earth Day Network’s mission is to broaden and diversify the environmental movement worldwide and to mobilize it as the most effective vehicle to build a healthy, sustainable environment, address climate change, and protect the Earth for future generations. Growing out of the first Earth Day, Earth Day Network is the world’s largest recruiter to theContinue Reading

Atlantic article calls out the financial fragility of America’s majority

The Secret Shame of Middle-Class Americans, Neal Gabler: “Since 2013, the Federal Reserve Board has conducted a survey to “monitor the financial and economic status of American consumers.” Most of the data in the latest survey, frankly, are less than earth-shattering: 49 percent of part-time workers would prefer to work more hours at their currentContinue Reading

April is Financial Literacy

“Whether you’re a student, young adult, parent, older person, or military service member, managing finances is a key part of your life; and you know that if you do it well it’s a great skill that reaps many rewards. In fact, strong financial literacy covers many areas, including spending, saving, investing, protecting, and making the most of yourContinue Reading

GAO reports – Counterterrorism, CFTC Leasing Guidance, DoD and mental health, national flood insurance, VA health care

Counterterrorism: DOD Should Enhance Management of and Reporting on Its Global Train and Equip Program, GAO-16-368: Published: Apr 18, 2016. Publicly Released: Apr 18, 2016. Federal Real Property: Commodity Futures Trading Commission Needs Better Leasing Guidance to Improve Cost-effectiveness, GAO-16-434: Published: Apr 18, 2016. Publicly Released: Apr 18, 2016. Foreign Aid: USAID Generally Complied withContinue Reading

Six of the Government’s Best Mobile Apps

“There’s an app for everything in this digital age, including hundreds developed by the federal government. Here are six apps that we found especially useful. Smart Traveler – Planning a trip out of the country this year? Smart Traveler by the State Department is great for all your trips abroad. Get the latest travel alertsContinue Reading

Value Relevance of Voluntary Risk Disclosure Levels: Evidence from Saudi Banks

Al-Maghzom, Abdullah and Hussainey, Khaled and Aly, Doaa A, Value Relevance of Voluntary Risk Disclosure Levels: Evidence from Saudi Banks (April 15, 2016). Al-Maghzom , A. , Hussainey, K. and Aly, D. (2016). Value relevance of voluntary risk disclosure levels: Evidence from Saudi banks. Journal of Accounting and Taxation, Volume 8, Number 1. Available atContinue Reading

CBO’s Contributions to Fiscal Transparency

“On April 12, 2016, CBO Deputy Director Robert Sunshine presented at the 8th Annual Meeting of OECD Parliamentary Budget Officials and Independent Fiscal Institutions. The OECD (Organisation for Economic Co-operation and Development) defines fiscal transparency as the full disclosure of all relevant fiscal information in a timely and systematic manner. Each year, CBO produces numerousContinue Reading

WSJ graphic – how much does it cos to produce a barrel of oil?

Barrel Breakdown – The cost of producing a barrel of oil and gas varies widely across the world, setting up winners and losers as the price of crude fluctuates at historically low levels. See also via New York Times – Major Oil Exporters Fail to Agree on Production Freeze – “A freeze would have involvedContinue Reading