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JPMorgan Data Breach Involves Information on 76 Million Households, 7 Million Small Businesses, CRS Legal Sidebar, October 23, 2014 “JPMorgan did not provide individual customers with notice of the breach because it believed that it had no obligation to do so because no “sensitive customer information” was involved in the data breach. This means that …
Finance and Economics Discussion Series- Divisions of Research & Statistics and Monetary Affairs. Federal Reserve Board, Washington, D.C. Signaling Status: The Impact of Relative Income on Household Consumption and Financial Decisions. Jesse Bricker, Rodney Ramcharan, and Jacob Krimmel. 2014-76. “This paper investigates the importance of status in household consumption and financial decisions using household data from the Survey of Consumer Finances …
Demyanyk, Yuliya S., The Impact of Missed Payments and Foreclosures on Credit Scores (October 24, 2014). FRB of Cleveland Working Paper No. 14-23. Available for download at SSRN: http://ssrn.com/abstract=2514370 “This paper debunks the common perception that “foreclosure will ruin your credit score.” Using individual-level data from a credit bureau matched with loan-level mortgage data, it is …
Summary: H.R.5490 — 113th Congress (2013-2014) All Bill Information (Except Text). There is one summary for this bill. Bill summaries are authored by CRS. Shown Here: Introduced in House (09/16/2014) Wall Street Accountability Through Sustainable Funding Act – Amends the Commodity Exchange Act to require the Commodity Futures Trading Commission (CFTC) to impose fees to recover the cost …
Šmejkal, Václav, CJEU and the Social Market Economy Goal of the EU (October 22, 2014). Charles University in Prague Faculty of Law Research Paper No. 2014/I/1. Available for download at SSRN: http://ssrn.com/abstract=2513377 “From the entry into force of the Lisbon Treaty the EU has among its constitutional objectives the goal of achieving a highly competitive …
“The Federal Deposit Insurance Corporation (FDIC) today released the economic scenarios that will be used by certain financial institutions with total consolidated assets of more than $10 billion for stress tests required under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The baseline, adverse, and severely adverse scenarios include key variables that reflect …
BLS news release: “Regional and state unemployment rates were generally little changed in September. Thirty-one states had unemployment rate decreases from August, 8 states had increases, and 11 states and the District of Columbia had no change, the U.S. Bureau of Labor Statistics reported today. Forty-two states and the District of Columbia had unemployment rate …
Ryan Banerjee and Hitoshi Mio, Working Papers No 470. October 2014: “To the best of our knowledge, this is the first study to estimate the effect of liquidity regulation on bank balance sheets. It takes advantage of the fact that not all banks were made subject to tighter liquidity regulation by the UK Financial Services Authority (FSA) …
Preliminary Information on IRA Balances Accumulated as of 2011 [Reissued on October 22, 2014]. GAO-14-878T: Published: Sep 16, 2014. Publicly Released: Sep 16, 2014. “For tax year 2011 (the most recent year available), an estimated 43 million taxpayers had individual retirement accounts (IRA) with total reported fair market value of $5.2 trillion. About 99 percent of …
Michela Zonta, Center for American Progress: “Persistent racial and ethnic inequality in the mortgage market is not a coincidence. Nearly 50 years after the adoption of the Fair Housing Act, newly released federal data indicate that people of color continued to lose ground in the homeownership market in 2013. In particular, black and Hispanic households continued to …
The Board Should Enhance Its Supervisory Processes as a Result of Lessons Learned From the Federal Reserve’s Supervision of JPMorgan Chase & Company’s Chief Investment Office “Our report contains four findings. First, as part of its continuous monitoring activities at JPMC, FRB New York effectively identified risks related to the CIO’s trading activities and planned …
William C. Dudley, President and Chief Executive Officer – Remarks at the Workshop on Reforming Culture and Behavior in the Financial Services Industry, Federal Reserve Bank of New York, New York City, October 20, 2014. As prepared for delivery: “As I noted earlier at the start of today’s workshop, improving culture in the financial services industry is …
