Ten members of a cybercrime network are charged with stealing millions in the 2016 release of malware that allegedly helped them transfer money out of victims' accounts. The US and five other nations worked together on the investigation -- a level of international cooperation that's vital to combating fraud of this scope, said Craig Newman, a partner at law firm Patterson Belknap Webb & Tyler.
Eric Blankenstein, a policy director at the Consumer Financial Protection Bureau, is leaving his post at the end of May to pursue another opportunity. Blankenstein was criticized for racially charged blog posts he made in 2004.
U.S. Bank is using products from mortgage-software company Blend to offer a digital experience for home equity lines of credit, mortgages and home equity loans. Approval is possible in minutes, the bank says.
First-time unemployment claims fell 16,000 last week to 212,000, the US Labor Department said. Economists surveyed by Reuters had expected claims to drop to 220,000.
Housing starts climbed almost 6% in April but fell short of the pace a year earlier, according to the US Commerce Department. Building-permit issuance edged up less than 1%, suggesting the trend is unlikely to accelerate.
The relationship between inflation and labor, as well as other resource markets, has broken down and could be problematic if the Federal Reserve cannot bring inflation closer to a 2% target, said Fed Governor Lael Brainard. Eventually, Americans could lose faith that inflation will ever meet the target, she said.
Congress should take action if the Financial Accounting Standards Board moves forward with new loan loss standards for banks, said Rep. Brad Sherman, D-Calif. The rules are scheduled to take effect in 2020, but Sherman is calling for a delay.
Republicans have criticized House Financial Services Committee Chairwoman Maxine Waters, D-Calif., after she abruptly ended a 3½-hour hearing, even though lawmakers still had questions for witnesses. "This is a travesty the way you've handled this," said Rep. Patrick McHenry, R-N.C.
Passion is one of the most-sought-after traits in potential hires, writes Monster career expert Vicki Salemi, citing information from executives in the communication field. They also want ambition, curiosity, confidence and an ability to listen.
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