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GE rails against new whistleblower allegations of fraud
GE picks apart new whistleblower allegations of $38 billion accounting fraud. “Market manipulation—pure and simple,” says Chairman and CEO Larry Culp.
European Central Bank announces data breach
The European Central Bank announced unauthorized parties breached the security measures protecting its Banks’ Integrated Reporting Dictionary (BIRD) website, which is hosted by an external provider.
Capital One hacker may have targeted dozens more
It appears Capital One may be just one in a long list of companies and organizations to be victimized by what now appears to be the inner workings of a serial hacker, in what the Department of Justice is calling one of “the largest cyber intrusions and data thefts in ...
Fed study minimizes lending, volatility concerns of CECL
A new analysis out of the Federal Reserve suggests concerns over the expected economic effects of CECL, the new rule on credit losses, may be overstated.
Fed wants real-time payments, settlements
The Federal Reserve is making an effort to develop a round-the-clock real-time payment and settlement service.
Aspen to pay $9.7M to settle U.K. competition concerns
Aspen Pharmacare has offered to pay the U.K.’s National Health Service £8 million (U.S. $9.7 million) following suspicions that the company paid rival firms to delay marketing a vital medicine to retain market dominance.
FASB formally proposes accounting change delays, including CECL
FASB is formally proposing major changes to effective dates for several significant accounting standards, including a CECL delay for smaller reporting companies.
Suspecting illicit assets, British police freeze record $121M
The U.K.’s National Crime Agency announced it has frozen eight bank accounts containing more than £100m (U.S. $121 million), which it suspects derived from bribery and corruption overseas. This represents the largest amount of money frozen to date.