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Your go-to guide: The FDIC has issued a Notice of Proposed Rulemaking (Proposed Rule) that would impose new recordkeeping requirements on certain custodial deposit accounts, such as those commonly used in bank-fintech partnerships. The proposed rule is intended to allow the FDIC to make deposit insurance decisions more quickly. However, the cost of complying with the new requirements can be significant. FDIC-insured banks and fintechs should review their business models and assess what steps they need to take to become compliant. If the proposed rule is adopted in its current form, affected entities should also consider submitting comments by December…

North Texas Commercial Real Estate enters a new chapter this week with the appointment of Jamie Jolly as the newest CEO of the Real Estate Council (TREC). The organization is a public policy investment, community investment, and career development agency. Among its major projects, TREC is implementing the $3 million Dallas Catalyst project. The project is an initiative launched in 2018 that focuses on neighborhood revitalization. The project has recently focused on the Mill City area. Jolly’s appointment follows the retirement of Linda McMahon, who was selected as the first CEO of the Dallas Economic Development Corporation. The appointment is…

TD Bank today pleaded guilty and agreed to pay more than $1.8 billion in fines to resolve a Department of Justice investigation into violations of the Bank Secrecy Act (BSA) and noncompliance with anti-money laundering regulations. Separately, the Financial Crimes Enforcement Network fined a New Jersey-based subsidiary of a major Canadian bank $1.3 billion for violations. At a press conference this afternoon, U.S. Attorney General Merrick Garland announced that TD Bank is the largest bank in U.S. history to plead guilty to violating the Bank Secrecy Act and the first bank in history to plead guilty to money laundering conspiracy.…

Home decor resource Burton James makes its debut under new ownership of HPMKT.HIGH POINT — Burton James, a California-based home decor resource, is entering the High Point market under new ownership. For the first time, Burton James will be showcasing its products as one of Ardmore Home Design’s brands and will be part of the company’s portfolio, which also includes Made Goods, Pigeon and Poodle and Blue Pheasant. AHD founder-owners Chris DeWitt and Oscar Jaag said the new showroom, which spans more than 8,000 square feet, will offer upholstery products featuring a “wide range of fresh designs and fabrics.” “We…

market environment China’s difficulties are well documented. From the second quarter onwards, consumer sentiment continued to deteriorate, and real estate prices continued to decline month-on-month. Premiums are being reduced as consumers spend more, but consumers are becoming much more selective about what they spend on.Nevertheless, many Chinese companies showed resilience. While earnings were disappointing in many areas, there were notable exceptions, particularly in e-commerce, where the focus is more on improving profitability than purely on sales growth. Companies with more direct ties to China’s domestic economy faced greater challenges. Among retailers, we are seeing margins decline as companies try to…

France has announced plans to sell 300 billion euros ($328 billion) of national debt next year, up from 285 billion euros this year. The move comes as the country faces fiscal pressures and political instability following months of turmoil. Proceeds from the bond issue will help finance an expected budget deficit of 136 billion euros in 2025, 31 billion euros less than this year’s shortfall.The bond issuance target is in line with expectations from financial analysts, who expected borrowing to rise due to a large number of maturing bonds and continued financial difficulties. The French government faces increasing pressure to…

CLEVELAND — After a summer in which many property owners learned their taxes would go up starting in 2024 thanks to a state-required reassessment, those same property owners will vote again on whether to raise taxes again. Across Northeast Ohio, school districts and other entities with voting systems will face an uphill battle to get voters to fund a variety of projects after being reevaluated. Outside his home in Cleveland’s West Park neighborhood, Charles Barrett still can’t believe his home has just been revalued for 41 percent more than its current value.Once everything is done and finalized, we anticipate paying…

Soaring grocery bills and car prices have subsided, but the relief in prices for Americans has not extended to health care, a new study shows.The average cost of a family health insurance plan offered through an employer rose 7% this year to $25,572, according to the annual Employer Health Benefits Survey released Wednesday by KFF, a nonprofit health policy organization. It became.The cost of family health insurance rose 7% for the second year in a row, after a decade of modest annual increases. Family insurance premium rates increased by just 1% in 2022.Individual premiums rose 6% this year to $8,951,…

Millions of Americans rely on their 401(k)s to ensure a comfortable retirement, but new research from Vanguard shows many workers may be falling into a common pitfall. , it turns out you can miss out on thousands in savings, even if it’s the same amount. As $300,000. The issue revolves around a typical experience for American workers: changing jobs. When people take a new job, they often get paid more, but they also often make the mistake of enrolling in a new 401(k) plan with a lower contribution level than their previous employer. . As a result, the irony is…

Continues to Execute on AI Strategy with Significant New Investments Net Asset Value Anticipated to be $6.50 to $7.00 Per Share NEW YORK, Oct. 10, 2024 (GLOBE NEWSWIRE) — SuRo Capital Corp. (“SuRo Capital”, the “Company”, “we”, “us”, and “our”) (Nasdaq: SSSS) today provided the following preliminary update on its investment portfolio for the third quarter ended September 30, 2024. “For over a decade, SuRo Capital has been the public’s gateway to curated venture capital. This access, once reserved only for venture capitalists, has provided exposure to some of the largest, most compelling, and highly sought after private companies in…