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“The Social Security Board of Trustees today released its annual report on the long-term financial status of the Social Security Trust Funds. The combined asset reserves of the Old-Age and Survivors Insurance, and Disability Insurance (OASDI) Trust Funds are projected to become depleted in 2034, one year later than projected last year, with 79 percent …
“Throughout the United States, people unfamiliar with our financial marketplace are more likely to fall prey to frauds and schemes. Low English literacy can make it even harder to manage money safely and effectively on a day-to-day basis. To help, the Consumer Financial Protection Bureau (CFPB) developed a series of guides that provide information about …
Annie E. Casey Foundation: “The 2015 KIDS COUNT Data Book reports that 14% of children — 10.1 million total — are now living in areas of concentrated poverty. These numbers represent an unsettling trend: An increase of nearly 4 million more children living in high-poverty areas since 2000. State-by-state, the percentage of children living in …
“The Consumer Complaint Database is a collection of 420,678 complaints, on a range of consumer financial products and services, sent to nearly 3,000 companies for response. We don’t verify all the facts alleged in these complaints, but we take steps to confirm a commercial relationship between the consumer and the company. See publication criteria. Since …
Decline in number of bank branches continues in most EU countries Number of bank employees down by about 74,000 to around 2.8 million Share of assets of five largest institutions at national level varies from 32% to 94% “The European Central Bank (ECB) has published a comprehensive dataset of structural financial indicators for the banking …
“The Federal Reserve Board on Monday approved a final rule requiring the largest, most systemically important U.S. bank holding companies to further strengthen their capital positions. Under the rule, a firm that is identified as a global systemically important bank holding company, or GSIB, will have to hold additional capital to increase its resiliency in …
Bank for International Settlements: “The Basel Committee on Banking Supervision has today issued for public consultation a revised version of the General guide to account opening, which was first published in February 2003. Most bank-customer relationships start with an account opening procedure. The customer information collected and verified at this stage is crucial in order …
Bank for International Settlements: “The Basel Committee on Banking Supervision today published the final Guidelines for identifying and dealing with weak banks. Weak banks are a worldwide phenomenon. They pose a continuing challenge for bank supervisors and resolution authorities in all countries, regardless of the political structure, financial system and level of economic and technical …
“This year, when the editors of MIT Technology Review began our annual search for the smartest companies, we did not have trouble finding big ideas. To make the list, a company must have truly innovative technology and a business model that is both practical and ambitious, with the result that it has set the agenda …
Cumming, Douglas J. and Dannhauser, Bob and Johan, Sofia, Financial Market Misconduct and Agency Conflicts: A Synthesis and Future Directions (July 17, 2015). Journal of Corporate Finance, Forthcoming. Available for download at SSRN: http://ssrn.com/abstract=2632506 “This paper reviews recent research on the causes and consequence of different forms of financial market misconduct and potential agency conflicts …
Gregory E. Miller, Tianyi Yu, Edith Chen, and Gene H. Brody. Self-control forecasts better psychosocial outcomes but faster epigenetic aging in low-SES youth PNAS 2015; published ahead of print July 13, 2015. Summary – “Most childhood outcomes pattern by socioeconomic status (SES). Children from low-SES families complete less education, have worse health, and are convicted …
Ungerer, Christoph, Monetary Policy, Hot Housing Markets and Leverage (May 22, 2015). FEDS Working Paper No. 2015-048. Available for download at SSRN: http://ssrn.com/abstract=2628295 “Expansionary monetary policy can increase household leverage by stimulating housing liquidity. Low mortgage rates encourage buyers to enter the housing market, raising the speed at which properties can be sold. Because lenders …
