Money
Federal Trade Commission Report To Congress: Adults 60 and Older Report Losses of $1.6 Billion in 2022 to Scams; Investment Scams are Top Reported by Dollars Lost
FTC Issues Annual Report to Congress on Agency’s Actions to Protect Older Adults; Adults 60 and older report losses of $1.6 billion in 2022 to scams. The analysis of fraud reports ...showed that adults aged 60 and over were substantially less likely to report losing money to fraud than adults aged 18-59... Consumers 80 and older reported losing a median of $1,750 to fraud, while those in their 70s reported a median loss of $1,000, with both numbers increasing over 2021...The report calls on Congress to update the FTC Act in response to the Supreme Court’s 2021 ruling in the AMG Capital Management case, which severely limited the FTC’s ability to recover money that older adults and other consumers lose to scammers. more »
Board of Governors of the Federal Reserve System: Something’s Got to Give by Governor Christopher J. Waller
Christopher J. Waller: "The data in the past few months has been overwhelmingly positive for both of the FOMC's goals of maximum employment and stable prices. Economic activity and the labor market have been strong, with what looks like growth well above trend and unemployment near a 50-year low. Meanwhile, there has been continued, gradual progress in lowering inflation, and moderation in wage growth. This is great news, and while I tend to be an optimist, things are looking a little too good to be true, so it makes me think that something's gotta give. Either growth moderates, fostering conditions that support continued progress toward our 2 percent inflation objective, or growth doesn't, possibly undermining that progress. But which is going to give — the real side of the economy or the nominal side?" more »
Federal Reserve: Financial Stability in Uncertain Times, A Speech by Governor Michelle W. Bowman
Michelle W. Bowman:"Many central banks are facing challenging and uncertain times as they strive to restore price stability and promote financial stability. A stable and resilient financial system is essential for the effective transmission of monetary policy and for a healthy economy. Healthy economies foster financial stability and financial stability fosters healthy economies. It is essential that central banks facing high inflation bring inflation back to target. A failure to do so would only lead to greater financial stability risks through less certain and unstable economic conditions and through reduced central bank credibility. It is, therefore, necessary that central banks, in collaboration with other financial regulators as appropriate, develop and use supervisory and prudential regulatory tools to promote financial stability." more »
Women's Congressional Policy Institute Legislative Update Including a Bill to Provide Loan Deferment for Borrowers And Survivors of Sexual Harassment, Stalking and Assault
A number of bills introduced: September 18-22, 2023: A bill to extend protections to part-time workers in the areas of family and medical leave; increasing access to short-term child care; a bill to provide access to an annually updated list of adoption agencies that are licensed and not-for-profit; extend protections to part-time workers in the areas of family and medical leave; a bill providing deferment of loans for borrowers who are survivors of sexual harassment, stalking, and assault; A bill to provide birth mothers and adoptive families with access to an annually updated list of adoption agencies that are licensed and not-for-profit in states across the United States; and a bill to recognize the Women-Owned Small Business program in the Department of Veterans Affairs procurement hierarchy of small business preferences.
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