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Fed terminates 2013 money-laundering enforcement action against Citigroup

WASHINGTON (Reuters) -The Federal Reserve announced on Tuesday that it had terminated a 2013 enforcement action it filed against Citigroup over shortcomings in its capacity to police money laundering. Citi announced in late 2023 it planned to split Banamex from the rest of the bank in the second ... WASHINGTON (Reuters) -The Federal Reserve announced on Tuesday that it had terminated a 2013 enforcement action it filed against Citigroup over shortcomings in its capacity to police money laundering. Citi announced in late 2023 it planned to split Banamex from the rest of the bank in the second half of 2024.The enforcement action, which did not carry a fine, was filed against the bank and its Banamex subsidiary over deficiencies in the firms' anti-money laundering programs, and ordered the firm to strengthen its efforts and update regulators on its progress.

Cramer Says 'Hot Money' Flowing From Nvidia, Apple Into China, Focus On Alibaba 'If You Must'

Jim Cramer is sounding the alarm, but not in the way you might expect. For those bullish on Nvidia Corp (NASDAQ:NVDA) and Apple Inc (NASDAQ:AAPL), Cramer's latest take might be hard to swallow. Hot Money Streaming Out Of Nvidia, Apple In a tweet, ... In a tweet, Cramer said, “The hot money is streaming out of Nvidia and Apple and into China. Let it stream. Do not defend these now. Let this money leave. On China only BABA has actual fundamentals if you must... But let it rain here.This article Cramer Says 'Hot Money' Flowing From Nvidia, Apple Into China, Focus On Alibaba 'If You Must' originally appeared on Benzinga.com

5 secrets about money American banks don’t want you to know — plus how to beat them at their own game

Your bank can’t evaluate how risky or trustworthy a borrower you are if you have no track record of paying debts off. So even though it wants to make money off of you, if it’s not sure you’re likely to pay back a loan, it will probably deny your application. As consumers, we rely on banks to keep our money safe and secure.These 5 magic money moves will boost you up America's net worth ladder in 2024 — and you can complete each step within minutes.There are certain tricks banks employ to make money and protect their own interests — and these tactics aren’t necessarily general knowledge.From maintenance fees to overdraft charges, one of the main ways banks make their money is through various fees.

U.S. Money Supply Recently Did Something for the First Time Since the Great Depression -- and It May Signal a Massive Move to Come in Stocks

A historic move not seen in M2 money supply in 90 years may foreshadow trouble for Wall Street. Meanwhile, M2 takes into account everything you'd find in M1 and adds in savings accounts, money market accounts, and certificates of deposit (CDs) below $100,000. This is still money consumers can access and spend, but it requires a little more work to get to.With few exceptions, M2 money supply slopes up and to the right. This is a fancy way of saying that the amount of capital in circulation tends to increase over time, which is normal and expected, given that the U.S.U.S. M2 money supply is reported monthly by the Board of Governors of the Federal Reserve and peaked at $21.722 trillion in April 2022. As of the latest report for August 2024, M2 stood at $21.175 trillion, which is down 2.52% from its all-time high.Furthermore, even the peak 4.74% drop in M2 from its all-time high pales in comparison to the historic year-over-year increase in M2 money supply of more than 26% registered during the COVID-19 pandemic. Multiple rounds of fiscal stimulus injected capital into the U.S.

‘This money is not bringing me a lot of happiness’: My husband and I have $7 million, but our kids are trouble. Should we cut them off?

“His son and his wife are not good to us. We rarely see them and they never offer to help us with anything.” We do not have a relationship with my husband’s daughter, and we have written her out of our wills. We currently have a net worth of about $7 million, and it’s growing every year through investments. My husband is amazing with money; however, he would rather save it than spend it.He is going through a divorce now and his soon-to-be-ex doesn’t believe in sending their two children to school, so who knows what their future is going to be like? We did make a provision to mete out his money over a number of years, which I am OK with. How do I approach my husband with my decision to cut his son out of my share of our money?He won’t take it well and I don’t blame him, but it kills me to think that they will inherit so much. Two are not my biological children, although I adopted his son. I feel that he cares for us and will benefit greatly from some money, and yet I don’t feel comfortable giving him millions.The attorneys said that we don’t just have money, we have generational wealth, but I feel burdened by it. This money is not bringing me a lot of happiness. At times, I have to twist my husband’s arm to spend a little. He loves saving the pennies and watching the millions grow.

The strategy a $69 billion hedge fund uses to make sure it never loses money in the stock market

Millennium Management's $69 billion hedge fund has lost money in just one year since its 1989 founding by employing this stock market strategy. The $69 billion Millennium Management hedge fund employs a simple yet effective trading strategy to make sure it almost always makes money in the stock market: cut losing stock positions as quickly as possible.The firm, which is one of the largest hedge funds in the world, was founded in 1989 and since then has lost money in just a single year — 2008, when a financial crisis turned into a sharp recession and sent the S&P 500 crashing 38%.Millennium Management has lost money in just one year since its 1989 founding.The $69 billion hedge fund uses a strict trading strategy to make sure it consistently makes money.

Campaign Finance: The Massive Role Money Plays in US Politics - Bloomberg

Your guide to the rules of campaign finance in a country where there are no legal limits to spending — and candidates who spend the most tend to win Money plays a bigger role in elections in the US than it does in other countries. There’s no legal limit to campaign spending in the US, and candidates who do more of it usually win.

Earle, Arkansas council members freeze city funding

— The city of Earle, Arkansas is having money problems, causing the city to freeze all of its money. Wednesday is usually a trash day for Earle, Arkansas residents. But this Wednesday will be different. “The city of Earle is on a purchasing freeze. My garbage truck and my boom truck have ... EARLE, Arkansas. — The city of Earle, Arkansas is having money problems, causing the city to freeze all of its money. Wednesday is usually a trash day for Earle, Arkansas residents. But this Wednesday will be different. “The city of Earle is on a purchasing freeze.So, I cannot purchase anything to pick up garbage for my residents,” said Mayor Jaylen Smith. ... Smith blames the city council for the freeze and says he has no access to the money.— The city of Earle, Arkansas is having money problems, causing the city to freeze all of its money. Wednesday is usually a trash day for Earle, Arkansas residents. But this Wednesday will be different. “The city of Earle is on a purchasing freeze. My garbage truck and my boom truck have broken down.Last Tuesday, during a city council meeting, the council froze the city’s money claiming the mayor is using it to buy things for his own gain.

I’m a Money Expert: 4 Reasons You Should Stock Up on $100 Bills Before the Winter

Winter is creeping up, and it’s time to stock up on $100 bills. This article outlines why it’s important to withdraw $100 bills before unpredictability kicks in. Look, no one is saying you should pull all your money out and hide it in a safe or in your mattress. But it’s a good idea to have a few thousand dollars, or more depending on your personal expenses, on hand.Digital payments are expected to reach $11 trillion in 2024. That’s a lot of virtual money changing hands.So, one thing is clear — there are many things could happen that prevent you from using your hard-earned money. So, is it a good idea to stock up on $100 bills now?Waiting could mean your money gets tied up, and you miss out on your planned purchase.

Money expert reveals aspects of a happy retirement that are often overlooked — how many are you ignoring?

It’s easy to obsess about numbers and discount how the qualitative measures of a joyful retirement add up. Retiring in stages can ease the transition. For her own part, Benz is trying “mini-retirements, or sabbaticals” from her day job that allow her to rest and explore options in education. “I want to try to continue to do the aspects of my work that make an impact,” she told MarketWatch.Read more: These 5 magic money moves will boost you up America's net worth ladder in 2024 — and you can complete each step within minutes.Money expert reveals aspects of a happy retirement that are often overlooked — how many are you ignoring?